Year-end events chopped as costs bite

Planning the outfit for your year-end function? Do not bother – the chances are it will be a “bring and braai”. As the countdown to the end of 2016 begins, companies have started planning their functions for the end of the year. And the tough economic climate has seen many scaling back on their celebrations. While some companies are still hosting functions, many are resorting to less extravagant festivities. Corporate events management agency Cievents business leader Stephanie Scorgie said the agency’s trend analysis showed that the banking and telecommunications sectors had cut their functions budgets.

“They have gone for smaller, department year-end functions as opposed to big company celebrations,” she said. “The functions have also become more casual and have gone from evening events at a venue to afternoon events at the office. “Quite a few companies are having functions at the office, like braais, or taking their teams to restaurants.” Companies were also asking suppliers to sponsor part of their function and opting for personalised beverages that fitted the theme. They had reduced the average budgeted amount per person for year-end functions by 20%, with the average cost now being around R300 a person for office or restaurant events, and R650 or more for functions held at an outside venue.