Corporate Gifting Policies

Table of Contents

• What are Corporate Gifting Policies?

• Key Elements

• Best Practices

• Don’ts of Corporate Gifting

• Conclusion

What are Corporate Gifting Policies?

Corporate gifting is an important part of client retention, business connection growth, and employee morale upkeep. When it comes to such an important strategic tool and business process, it is imperative to establish policies and codes. 

Ensuring that guidelines are outlined helps respect professional boundaries, prevent conflicts, and avoid legal and ethical issues. 

Key Elements

Budgetary Limits

Companies often set a value limit for gifts to maintain modesty. Giving gifts of overly high value could be perceived as a bribe, which is why setting limits is important. If any gifts exceed this set value, the permission of higher authorities is required.

Types of Gifts

Corporate gifting occurs strictly in professional settings, and therefore, gifts must be appropriate and healthy. Company policies may describe the types of acceptable gifts and gifts that are off-limits. 

Occasion and Frequency

Companies have policies regarding the occasion on which gifts are to be given and the frequency. This planning helps companies create a budget for corporate gifting and plan accordingly. 

Restrictions

Companies may set certain restrictions on corporate gifting, based on the recipient or occasion. This is to ensure that the gift is not perceived negatively and does not influence any processes between the client and the company. 

Cultural Sensitivity

Companies issue guidelines to respect different cultures in organizations with diverse employees, business partners, and clients. This is especially prevalent in multinational companies, as different countries have different values concerning culture and corporate gifting. 

Best Practices

• Follow corporate gifting policies.

• Choose high-quality gifts.

• Consider the culture and preferences of the recipient.

• Be transparent.

• Prioritize sustainability in corporate gifting.

• Choose gifts that serve a functional purpose.

• Add a touch of personalization.

• Be professional.

Don’ts of Corporate Gifting

• Don't ignore cultural implications. 

• Don't send last-minute gifts.

• Don't go too heavy on the branding

• Don't give cash.

• Don't ignore company policies.

Conclusion

Corporate gifting is an essential tool in building a business network and fostering meaningful connections with clients, business partners, and employees. 

Companies and HR managers should keep in mind the different elements of corporate gifting policies and best practices while giving gifts. 

Apsara Gifts, Bangalore’s best corporate gifting company caters to all corporate gifting needs.