A staggering 83% of staff surveyed said they would choose a bonus or gift over a get-together with colleagues.
More than half weren’t bothered about any kind of work bash.
Most cited the bills crisis – but having to socialise with people they’re not overly fond of was another reason for a quarter.
Awkward small talk and annoying drunken co-workers were among the niggles.
Employees told pollsters a £110 payment would be a sufficient alternative to a festive soiree.
One in five favoured a gift card or voucher over money in the bank.
But 92% said they’d still like to be given the choice between the bonus or a party.
The poll of 2,000 revealed the average worker has to contribute £33 to their staff Christmas party to cover costs such as food, drink and decorations. Only one in 20 say they are lucky enough to get a shindig and a financial bonus in their December pay packet.
But while the office bash appears to be out of favour, the number of workers enjoying Secret Santa present-giving has risen, with 50% taking part and people spending an average of £14 on gifts.
Staff aged 18 to 24 spend more than double the amount on their gift than older colleagues, splashing an average of £23 compared with £9 for those aged 55 to 64.
However, Secret Santa giving is not so popular in Scotland – where just 5% enjoy joining in. Frank Creighton, of the gift voucher firm Love2shop, which conducted the research, said: “Everybody has experienced a rise in their cost of living since the pandemic, so it’s hardly a surprise to see the work Christmas party become less and less of a priority as people struggle to make ends meet during the festive period.
“This should be a wake-up call for UK business owners to start listening to what their employees want – and that’s a financial bonus.
“The money that would otherwise go on a seasonal celebration could be better spent going straight into the pockets of employees.
“While the benefits of a cash injection in December are evident, employers should also note the knock-on effect it can have on their workforce, increasing morale and retention rates in the long run.”
