CHICAGO ( TheStreet) -- The office holiday party is a December tradition, but like many it must change with the times. While free-flowing cocktails used to be a given, today's office festivities are just as likely to be alcohol free. Back in the days of unlimited entertainment budgets, companies were considered chintzy if they didn't spring for a lavish meal for employees and spouses; now, rampant cost-cutting has made semi-formal dinner-and-dancing parties an endangered species.
So what are the new rules of the office party? When small businesses are performing a cost-benefit analysis on practically every penny of spending, can they justify the expense of an annual office bash?
With office-party season in full swing, here are the key issues small-business owners should keep in mind when it comes to holiday celebrations:
1. DO ask your staff
While holiday parties can be a good way to reward employees with some free food and time off work, they aren't necessarily the best use of your money. After all, some offices are more social than others. The best way to assess whether a party makes sense for your particular group of workers is to ask them.