At least that's the trend that's appearing in the US, where entrepreneurs are rewarding workers with Christmas cash bonuses rather than a knees-up.

The 2006 Small Business Holiday Outlook Survey, carried out by Constant Contact, found fewer than half of the firms it quizzed were planning a Christmas party for staff, and the number was down on last year. Almost four out of ten said they were handing out bonuses - up on last year.

Although more businesses are putting on parties than offering bonuses, analysts reckon that cold, hard cash is better than cold beer to boost employees' motivation.

Gail Goodman, of Constant Contact, told CNN Money:

"This year we are seeing small businesses prioritising holiday bonuses over office or store festivities, which shows that financial incentives still work best for many businesses."

Perhaps the bonus route is also the way to go to avoide potential litigation - according to the conciliation service Acas, the office party can be a legal minefield.