There are many ways that companies celebrate the holidays with their employees. Here are just a few examples from Vault's survey:

"Las Vegas Style Casino Games"

"We rent out all 4 of the Hilton's Ballrooms& it's about 3000 employees plus guests."

"We are having a gathering with the department (350 people) to build bicycles for needy children. There is a push to contribute this holiday season more than to celebrate."

"We get a week off paid instead."

Vault's 2005 Company Holiday Party Survey, conducted in mid-late November, is comprised of 755 responses from employees representing a variety of industries across the U.S.

A majority of companies (45%) will be spending about the same amount of money as they did on last year's party, and a practically equal amount will be increasing the spending (18%) as will be lowering the party budget (17%). One employee knows exactly what the party will cost because "we have to pay for it!!!!"

When asked about how elaborate the company holiday party is, 20% of respondents said their party is usually "extravagant," and 25% placed the festivities on the opposite end of the spectrum at "bargain basement." A majority of employees (55%) said their parties were "average" in terms of lavishness. One survey respondent who expects an extravagant affair said, "Every year they consider getting rid of it, and every year (they) do it bigger than the year before due to threats of riots." On the flip side, another employee stated, "Each year, the holiday party is less than what it was the year before. This year they're just getting us a 6-ft. sub."

Everyone knows that atmosphere can make or break a party. While a majority of company holiday events have a "normal" party atmosphere (63%), still many unfortunately qualify as "sedate and boring" (23%), while some can get "wild and crazy" (14%). Makes you wonder what these parties are really like. One employee who classified his party as boring said, "Last year I spent the entire night sitting at a table staring at a 10 foot painting of Janet Reno. Horrifying." Another, from the wild and crazy category, stated, "The theme was 'On Broadway' - with tents dedicated to different musicals - the 'Chicago' tent featured scantily clad cage dancers for the first (and last) time in company history."

Some classic tales of company holiday parties gone wild can probably be attributed to alcohol loosening peoples' inhibitions, which must happen quite often as alcohol is served at over 73% of company holiday parties. Many blame alcohol intake for the crazy things they've seen take place at their company holiday parties, which range from co-workers fooling around (38% of employees have seen fooling around at the party) to becoming ill from drinking too much.

Many survey respondents shared stories of company holiday parties past:

"At a past holiday party my former employer had rented an inflatable castle on which you could bounce. It produced many drunk romps, lots of jumping up and down by inadequately clothed people, and had to be shut when an employee jumped up and down too much - this employee has been appropriately named the 'puker'."

"&Went to a strip club where our boss paid for everyone to get lap dances last year."

"A coworker of mine, 24 year old, made out on the dance floor with our Human Resources Manager. It remains his claim to fame to this day."

"Two women hooked up during an especially rowdy truth-or-dare game."

Even with examples like these, only 12% of employees have ever seen a co-worker disciplined or fired for their actions at the holiday party. Guests are usually invited to attend the company holiday party (72% of respondents said that they were allowed to bring a guest), and that can affect an employee's perspective on the event. One employee stated, "We, of course, get dinner for free, but we have to pay for our family members - and the expectation is that family members will attend. It's kind of disheartening to have that forced expense." This employee was one of the 14% that said they "dread" the party. More employees enjoy it, however; 34% said that "it's always a good time."