As the holiday season approaches, many Connecticut businesses are planning their end of the year company parties and gatherings. Holiday parties offer a festive opportunity to foster employee relations and happiness, but unfortunately office parties also come with additional liability and loss exposures. When planning your company’s holiday shindig, there are a number of factors to consider: location, food, beverages, time, theme, and whether or not to make the party family friendly, being a few. These factors and more can dramatically impact your exposure to losses and other complications during what should be a fun and cheerful gathering.
Here are a few things to think about when planning your holiday bash:
- Who is invited? While employee parties are inherently held for employees, many Connecticut businesses choose to allow their workers to bring a quest or family to the event. Opening your company holiday party up to loved ones and family can place additional liability exposures on employers who are now not only responsible for their employees but also for employee’s guests.
- Where will the party be held? While many small businesses opt to have their holiday party in-house to save a little cash, the truth is doing so could end up costing your company more than expected. Should your employees or guests get a little rowdy and the party gets a little out of hand there are a number of property and liability concerns which can ensue. Moving the company party to a third party premises, whether it’s a local eatery or a festive venue, will help protect your physical premises from damages and also help transfer some of the liability issues involved with injury or alcohol.
- Will there be liquor? Providing alcohol is a traditional and festive part of the holiday season; however it might not be suitable for every office party, company or setting. Providing alcohol to employees and guests exposes employers to a host of concerns such as increased exposures to sexual harassment, damage to office property, injuries and a host of other mishaps. Hiring a caterer or a bartender or hosing your party at an outside establishment will help eliminate some of the liability your business has regarding drunken employees and their actions.
- What are the expectations? Be sure to reinforce all dress codes and behavioral expectation when informing employees about the holiday party. Also, be sure to monitor and maintain such standards throughout the event. It is important that all company officials lead by example; doing so will help prevent things from getting out of hand because employees will follow their coworkers’ and superiors’ leads.
Hosting a company holiday party can be a great success with the proper planning and precautions, however even the best laid plans can go awry. As such, it is important to have the proper fail safes established to protect your operation for losses. At Sinclair Risk and Financial Management, we specialize in helping businesses of all shapes and sizes develop strategies that will help preserve your operation’s balance sheet and increase overall profits. Our trademarked Risk Safeguard Advantage combines uncommon risk analysis and strategic risk management with human resources consulting and training to provide businesses with measurable, sustainable results. Our CT Business Insurance experts can even help you secure commercial polices specifically designed to protect your business and your assets from any mishaps your operation may face along the way. Give our specialists a call today at (877) 602-2305 to learn more about all the services we offer.