Staff parties are a little luxury, a bonus that comes from being part of a motivated and successful team. As a manager or MD of a company, you throw parties at your discretion, when your team deserve to be rewarded or need a pick me up after a busy period. It can be easy to get carried away and have a little too much fun at a staff party, especially if you are the one in charge and you want to party the night away. This sets a bad example to staff though, if nothing else, and people need to understand limitations and budgets.

That’s why you should set a budget ahead of your party or incentive. Don’t leave a card behind the bar and build up a big tab – make sure you are aware of what your are spending and you’re keeping track. It’s very important for company cash flow.