Shayanne Gal/Business InsiderThe office holiday party will look much different this year for big financial-services companies and law firms, which are known for throwing lavish winter holiday affairs that can cost hundreds of thousands of dollars.
And if it's the end of 2020, and you work in finance or at a big law firm, it's a time to sit on a Zoom call for another hour and open up the fancy gifts your employer sent home — like a Hermès travel bag or snacks and beverages to eat together, apart. Most of those will be virtual events, according to its October survey of 189 US human-resources representatives across industries. Just over 1% of them said they planned to hold in-person gatherings "without any precautions."Up until mid-November, two of Marcy Blum's financial-services clients had planned to hold small socially distanced holiday dinners for senior leadership.
Corporate clients are concerned with the optics of an in-person or over-the-top gathering, Blum said. PayPal plans to hold a virtual global holiday party, hosted on a custom PayPal-designed videoconferencing platform, that will run for 29 hours straight. There will be magic shows, a spokesperson said, as well as origami-folding and cooking workshops and games of drag-queen bingo.
By mid-November, he'd hoped to be able to hold at least hybrid events — part in person, part virtual experience — but firms are shying away from planning any in-person interactions. The bar is high for keeping employees entertained while they're already sitting at home all day in front of their screens.
Wells Fargo Advisors has about 12,900 financial advisors around the US and thousands of other representatives. Its bank parent had 274,900 employees as of September 30, though it hasSchmoozing is making a comeback. Here's a look at how Wall Street is entertaining clients, from golf games to lavish outdoor Hamptons dinners.
Another hedge fund Kumar works with frequently has a five-person staff and chose to create customized gifts for each employee. In that capacity, she works with clients on branding and delivering those gifts. Large and midsize law firms are also working to plan festivities.
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