Corporations are known to give gifts to employees, clients, contractors, suppliers, vendors and those that they find to be important to their business. There are some guidelines and facts that have to be considered when choosing custom corporate gifts that the company should give away. You have to consider the corporate ethics when you are giving away corporate gifts. They can be complicated and difficult to understand at times. Corporate gifting, however, is a common practice but it is an area that companies have to look into closely. Majority of the big companies have their own set of rules when it comes to sending and receiving corporate gifts.
Defining Corporate Gifts
This is considered a spontaneous gesture that one business gives to another or to employees of another business. They may vary from gift baskets, money donations, gift certificates, objects of any kind, etc. A gift is not considered as part of an agreement; it is also independent of the salary paid for the services rendered. Essentially, it is something that is earned.
Various Policies Regarding Corporate Gifting
It is typical for every company to have a specific policy when it comes to giving away corporate gifts. The policies are meant to guide the marketing and business heads in setting up boundaries that should be observed when it comes to gifting. You may even find some companies that ban corporate gifting altogether. There are cases wherein giving gifts to specific employees is prohibited. This is often the case with insurance companies, government-based businesses, retail stores, and lawyer’s firms. There are also those that limit the amount of corporate gifts they can accept as well as the situations in which they can be given.
Inappropriate Corporate Gifts in Singapore
In giving corporate gifts, it is important for the gift to be not thought of as a means to persuade or dissuade the receiver of it in any situation. It’s not appropriate to give gifts during the bidding process even when Christmas or Diwali for instance if drawing near. These gifts may be seen as bribes. Gifts should not be given to any company when it is still in the process of negotiations over a contract or deal.