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Christmas party hangovers to cost British businesses £740 million

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Hungover workers will this month cost employers £740 million in lost productivity, according to a report published today by hotel chain Travelodge.

The report found that over 70% of workers are set to party over the next 10 days and employers can expect a day of lost productivity due to excessive drinking. It claims this will cost British businesses £740 million.

In the survey of 2,000 British workers, three times more companies (75%) plan to host a traditional office party than in 2011 (23%) and nearly twice as many as 2010 (38%).

Shakila Ahmed, a spokesperson for Travelodge, said: "It is good to see that more companies are rewarding their workforce with an end of year celebration. This is a positive sign that we are slowly coming out of the recession."

Over half (53%) of employees said that they were preparing to party hard to reward themselves for surviving one of the toughest years of their working career. And 36% said that they would be getting drunk because they deserved it.

Over a third of those questioned also indicated that they generally got the least amount of sleep during December due to excessive partying, working late and preparing for Christmas.

A further 36% of respondents believed that Christmas work celebrations were important as they helped co-workers to bond and boosted team morale, although a further quarter said that they avoided such dos like the plague as they don't enjoy socialising with colleagues.