Corporations often give out gifts to clients, customers, employees, contractors, vendors and others who they find integral to their businesses’ success. But there are some must-know guidelines and facts that you need to consider when choosing corporate gifts for your business to distribute. Corporate ethics come into play when selecting corporate gifts. Corporate ethics can be difficult and complex to understand. Corporate gift giving is a common practice, but it is one area where companies must pay close attention to how it may be construed. Most big companies have a policy in place regarding the receiving and giving of gifts.
What Are Corporate Gifts?
Corporate gifts are a spontaneous gesture that is given from one business to another or to employees within a business. They can be gift-certificates, donations of money, or objects, like food baskets. A gift is not part of an agreement, and is given independently of any services rendered. In essence, it is not something that is earned.
Company Policies Vary Regarding Gifts
Typically, each individual company will have a specific policy regarding the giving of corporate gifts. These policies are devised so that marketing and business heads within the company will understand any boundaries that must be created when it comes to gifting. Some businesses actually ban the practice altogether. Similarly, gifts sent to specific employees within the business are also refused. This is often the case with some retail stores, attorneys, insurance companies, or government-based singapore corporate gifts businesses, who don’t want to expose themselves to the possibility of accepting a bribe of sorts. Further, some businesses limit the value of gifts that can be received, and the situations under which they can be given.
Improper Corporate Gifts
When giving gifts, it is important that the gift not be perceived as a gesture from your business that is intended to persuade or dissuade the recipient in any manner, regarding any situation. Never offer gifts during a bidding process, even if Christmas or some other holiday is near. They can be seen as bribes. In general, gifts should never be given to a business if the business is still in negotiations with you over an offer or contract. Also, expensive things should be avoided altogether.
When to Give Company Gifts
Corporate gifts should only be given during appropriate times, such as during the end of the year holidays, and should be reflective of the type of relationship the recipients have with one another. For instance, you might choose more expensive things for long-term clients than for clients who just signed on recently. Corporate gifts should match the tastes and styles of the recipient but be within the proper bounds of the business relationship. You can invariably add a personalized touch by adding a hand-written note.