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So layoffs are actually expensive, but they impact cost projections when you reset revenue or margin expectations. A holiday party is a one time cost. And in a budget as such. 600k equates to about 230k in raw salary costs. That's about 3 employees. And low level at that.
I literally came to say what EVP said, so few people understand the business side of running a business and are utterly clueless as to what it costs an employer to keep employees. That said, it's not their job to know and understand that either. Parties and maintaining a culture and showing gratitude to the staff and allowing time and space to celebrate are integral parts of a healthy work environment, it can't just be doom and gloom, it's not how human nature operates and we all have emotions. But how to do it tastefully and when is appropriate is an art in itself.
I would happily forgo a holiday party if that meant some people weren't laid off
At least you’re getting a party and not paying out a settlement. 🤔
It won't save them because of GAAP and financial accounting rules. I do think it's tone deaf to do lavish things if business isn't great.
Damn, where are you at that you have a $600k budget?
My company holiday party one year had one keg. And was in the office. The keg ran out 20 minutes in.
@EVP1 - Get your point, but I’d still say it’s worth it to screw the big party and save those 3 jobs.
Burnett Breakfast is usually about that much
☝️ loser
RGA
RGA1 - no way on gods earth Bob would spend that much cash on a party. Trust me on this.
Can I be your plus one?
My office is 375 people. We can have a fine in-office party for under 10k. No one likes I but there's still plenty of food and liquor and prizes and shit.
RGA also had a summer party right after layoffs.
👆🏻trying waaaaaaaaaaaaaay to hard
@EVP1 you hit it there. It’s tone deaf. Even though your other point is spot on people will always see it as some bullshit over produced thing that could’ve saved jobs. I’ve seen chatter like that when layoffs came six months later “bet if our party was smaller we wouldn’t be having layoffs”. It’s wrong but that’s because the optics suck
Optics matter. When they have a huge party in the same year as layoffs it’s a horrible message that says ‘we forget about you the minute you’re gone.’ Cancelling the party to save even three jobs would build love. Nobody cares about the party.
I work at a big agency in NYC. Holiday party is fancy and still is under half that cost
Anyone on this thread butt hurt about the $600k party doesn't understand agency business model and is not ready for leadership. If you're reading my message and angry or disagreeing, then then you're not ready to be a leader in an agency. You will be someday and you'll get it