In Singapore, gift giving is a typical gesture in the trade industry. There are stores that give their buyers small gifts of gratitude. There are companies that give their commercial clients gift packages. And there are employers that give their employees incentive to give their best at work. And even though gift giving in business is a positive thing, it can also become a problem when people have a secret agenda or if other people misinterpret the act.
Businesses generally give away corporate gift products like ballpoint pens, paperweights, fridge magnets, and memo pads. They give these mass-produced items to their workers and to their consumers. For their shareholders and client partners, they usually offer more expensive items, such as wine baskets, gift baskets, collector’s item pens, and gadgets.
Be warned, though, that extravagant gift giving Singapore items have consequences. The deed might be regarded a bribe, especially if the item is extremely high-end. It is usually considered improper if the giver and the recipient belong to establishments that are in the brink of signing a new arrangement together. Others might think that it is a bribe and the contract happened because of the gift even if the act is in good faith.
That’s why there are businesses that totally forbid their staff to accept any gift from clients or other establishments. They wish to avoid any talk about inducement, whether true or not. The staff can’t even accept an apparently meaningless and inexpensive gift, such as a coffee or lunch treat, since it may still be construed as accepting a business favour.
There are also Singapore businesses that are a bit more lenient in allowing their employees to accept gifts. If the Singapore corporate gifts don’t exceed a certain value, the staff can accept them. Some firms, on the other hand, allow the accepting of extravagant presents if the staff member who has received it would put it on file.
There is nothing wrong with giving Singapore corporate gifts. Gift giving reinforces the relationship between companies. But, even when it’s done in good faith, there are instances when it can attract negative attention. So it is better to research about the company’s gift receiving protocols first before purchasing gifts for their employees.
Every company has some kind of budget set aside for gifts. Gifts are often given to both employees, executives, and customers that are important to your company’s business. The decisions made regarding what gifts to buy and whom should receive them, can often be a tricky road to navigate. The right gifts for the right people can have a very positive effect on both your employee base and your customer base.
Buying for employees can be especially tricky. At it’s worst, it like dealing with a group of small children. Excessive favoritism or neglect can easily become negative fodder for the water cooler discussion crowd. If in doubt, it’s generally best to just evenly divided gifts amongst everyone. Unless of course, there’s a clear and well-defined performance driven basis for the giftgiving, that everyone is well aware of. Try choosing gifts that are useful and meaningful to your employees. Nic-nacs or other useless items, are really just a waste of your budget. As well, try and stay away from items specific to gender, size or other hard to fit attributes.
If your company is small, and everyone knows everyone fairly well, it may be possible to pick gifts based on specific tastes preference and hobbies. This will of course require more work, but certainly has a much more personal touch. It’s important to treat everyone fairly in this exercise.
Presenting gifts in a public forum, or at least with public notice can be nice as well. Acknowledging an employee, and their importance to the company is good for both the employee, and the company. This is especially true with performance-based giftgiving. Try and stay away from the usual run-of-the-mill plaques and trophies. While it may be nice to have something to hang on the company wall, it’s not really much of a perk for the employee.
While were in the process of giving gifts, let’s not forget about executives and our most loyal customers. While executive gift giving can be tricky, it’s just as important as giving gifts to other employees. Executive gifts, should really focus on recognition and performance. It’s more about that than the actual monetary value of the gift. Customers however are different again. When it comes to customers, the monetary value of the gift really does matter. You’re bigger more value, more lucrative customers should obviously received the most expensive gifts.
Giving gifts can be a tricky process depending on who the recipient is, it’s one that every company should go through. Recognition of performance, and major milestones within the company’s teams and employees is all part of building a successful company. One that should not be neglected, and one that can really generate a lot of good morale, for very little expense.