Corporate gifting is the practice of businesses giving gifts to employees, customers, and other stakeholders. It can be a powerful way to build relationships, show appreciation, and promote your brand. However, it’s important to have a corporate gifting program and policies in place to ensure that gifts are given in a consistent and ethical manner.
Here are some tips on how to effectively implement a corporate gifting policy:
1. Get buy-in from leadership
The first step to building a sustainable corporate gifting program is to gain buy-in from leadership on the importance of having a corporate gifting policy. Explain the benefits of corporate gifting and how it can help the company achieve its goals (client and employee retention top the list). Once leadership is on board, you can start to develop the policy.
2. Define your goals
What do you want to achieve with your corporate gifting program? Are you trying to build relationships with customers? Show appreciation to employees? Promote your brand? Once you know your goals, you can start to develop a gifting strategy that will help you achieve them.
3. Set a budget
How much money do you want to spend on corporate gifting? It’s important to set a budget that’s reasonable and aligns with your organizational culture and brand. Leaders who do “gifting” really well have certain times of the year that are planned ahead of time, with some budget set aside for special gifts like birthdays, work anniversaries, and milestones.
4. Establish guidelines
What types of gifts are allowed? What is the maximum value of a gift? Who can and cannot receive gifts? Tip: ask legal to weigh in if you’re in a regulated industry. It’s important to establish clear guidelines for your corporate gifting program. This helps ensure that gifts are given in a persistent and conscientious way.
5. Communicate the policy
Once you have developed your corporate gifting policy, it’s important to communicate it to all employees who have a stake in workplace culture, client relations, or business development. Use company newsletters and staff meetings or even schedule a session to discuss the new gifting policies and brainstorm gift ideas.
Here are some additional tips for implementing a successful corporate gifting policy:
- Personalize your gifts. The more personalized a gift is, the more appreciated it will be. While food gifts and gift certificates appeal to the masses, try to include a personalized note of gratitude.
- Be mindful of cultural differences. If you are giving gifts to people from different cultures, it’s important to be mindful of any cultural taboos or sensitivities.
- Don’t overspend. It’s more important to give a thoughtful gift than an expensive one. In fact, some recipients may even feel uncomfortable receiving a gift that is too expensive.
Ready to get started? Let us help! Call us today to discuss your goals and budget and see what we can offer for your corporate gifting program. As we enter into the holiday season, check out our resources, they may provide more help!
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