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Half of Canadians Say Their Workplace is Throwing a Holiday Party Despite Challenging Economy: BMO

TORONTO, ONTARIO--(Marketwire - Dec. 10, 2012) - According to BMO's Commercial Banking Holiday Survey, released today, more than half of working Canadians say their boss will be more of a Santa than a Scrooge for hosting a holiday office party. However, for those planning to celebrate the season with their work colleagues, expect 'Santa' to be doing a bit of belt tightening compared to last year.

The BMO survey revealed that 53 per cent of working Canadians say their employer will be hosting a holiday party. Regionally, employers in Quebec are most likely to host a celebration for their employees (60 per cent), with those in Atlantic Canada the least likely (45 per cent).

Employer Hosting a Holiday Party

Yes 53 % 45 % 60 % 50 % 58 % 54 % 52 %
No 26 % 27 % 24 % 28 % 16 % 27 % 30 %
Don't know 21 % 29 % 17 % 22 % 27 % 19 % 18 %

"In a challenging business environment, it is encouraging to see that many employers are continuing to recognize the contribution of their employees and celebrate the successes of the year," said Steve Murphy, Senior Vice-President, BMO Commercial Banking. "This survey, in many ways also reaffirms what we are seeing from employers across the country - that they are investing in their people and their businesses, but in a measured and very deliberate way as they adapt to the new dynamics of the business environment."

Of those who indicate that their boss will be throwing a holiday party, 60 per cent say it will be as generous as last year, and 18 per cent say it will be scaled back from last year (up from 12 per cent in 2011). Only 12 per cent believe that their holiday party will be more generous than last year.

More or Less Generous Party than Last Year?

It will be more generous compared to last year 12 % 8 % 10 % 14 % 15 % 7 % 9 %
It will be scaled back compared to last year 18 % 19 % 14 % 20 % 15 % 12 % 28 %
It will be the same as last year 60 % 58 % 63 % 59 % 58 % 76 % 49 %

BMO's Commercial Banking Holiday Survey was conducted by Pollara Strategic Insights. The survey results cited in this release are from online interviews with a random sample of 1,000 Canadians 18 years of age and older, carried out between November 23rd and November 27th, 2012. A probability sample of this size would yield results accurate to ± 3.1 per cent, 19 times out of 20.

About BMO Financial Group

Established in 1817 as Bank of Montreal, BMO Financial Group is a highly diversified North American financial services organization. With total assets of $525 billion as at October 31, 2012, and more than 46,000 employees, BMO Financial Group provides a broad range of retail banking, wealth management and investment banking products and solutions.

Media Contacts:
Paul Cunliffe, Toronto
(416) 867-3996

Valerie Doucet, Montreal
(514) 877-8224

Laurie Grant, Vancouver
(604) 665-7596

Twitter: @BMOmedia