Firms, such as those in serviced offices in Cardiff, may decide to find another way to reward staff if they have had to make cutbacks in Christmas party budgets.
Noelle Murphy, editor of the Employment Review, said companies can show creativity in how they let workers have time off over the festive period to make up for a diminished office outing.
She noted that the majority of businesses are already closed on Christmas Day as it falls on a Saturday this year.
"Ignoring the usual bank holidays, we found that four in ten employers are offering employees company days or extra-statutory days on top of basic annual leave," Ms Murphy added.
Last week, it was reported that a number of Scotland's biggest businesses would not be funding a Christmas social for their staff in 2010.
While RBS and Lloyds stated they would only be making modest contributions towards the cost of employee parties, Standard Life, Aegon and Northern Rock will offer no funding at all.
