You don’t need to be a genius to know that giving gifts can be a good way of getting what you want. In the business world, money given to partners and clients to compel them to act in certain ways can be considered bribes; gifts on the other hand are not regarded as bribes.
If you are a business person and want to know how to use corporate gifts to further your position or increase gain then this post have you covered; it will explain why corporate gifts are crucial and how they can be used to your advantage.
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Corporate Gift Giving
By definition, corporate gift-giving is when businesses give presents to their staff or clients. These gifts can be in-house or out-of-house but are always given in a professional way, so they are not misconstrued as bribes. If the recipient of a gift feels as though they have been bribed then they can report the giver to their regulatory body. Such reports can lead to investigations and sometimes fraud or bribery cases being brought up against givers deemed guilty of making bribes.
The gifts that you give have to be appropriate. You cannot in most cases give monetary gifts unless you are giving employees bonuses for good behaviour. Monetary gifts given to clients and partners can be perceived as bribes. Experts advise using a company swag store platform to ensure your gifts are appropriate and beneficial to recipients. You should always be thinking of ways to make sure that the recipients of your gifts are going to be able to enjoy them. Do not make the mistake of giving people things that have no purpose or use. Such gifts are nearly always received poorly.
Getting Your Way
You can use corporate gifts to get your own way. When doing so it is important to be delicate so that you do not end up bribing gift recipients. As mentioned earlier bribery is a serious offence. In certain countries, business bribery can yield prison sentences. It is therefore essential that you do not cross the line and make corporate gifts bribes. That being said, you can quite easily use corporate gifts to get your own way which is really no different to bribery; it is just that bribes are usually financial gifts, whereas corporate gifts never are.
Because giving gifts to get your own way in business can in some circumstances be considered bribery it is very important for you to take steps to protect yourself and to give gifts subtly. Do not make the mistake of giving them in such a way that recipients feel as though you are paying them to do what you want them to do. It is better to give gifts over a long period of time without directly asking for something so that you build a good relationship, then asking for a favour once your relationship has been established.
Employee Productivity
Giving corporate gives to employees can be a good way to get them to work harder. Employee productivity is strongly linked with company profitability. When employees work hard it is easier to make strong profits. As a business owner, it is important that you do everything you can to boost productivity. One good way of doing this is by giving gifts. You do not need to worry about being accused of bribery when you are giving gifts internally as it’s expected; you can actually outright tell employees you will give them gifts if they behave in certain ways or complete specific tasks for you.
If you are planning on giving gifts to your employees then it might be worth letting them know why you are doing it; you may also want to consider setting up bonus schemes that involve giving gifts to employees who work hard or complete certain tasks. Bonus schemes can be a good way of improving overall employee productivity. When setting up bonus schemes you must ensure the gifts you are giving are attractive and desirable – if you’re giving pensioners tickets to see a rock band, for example, it won’t motivate them to work harder. Ensure the gifts you give are appropriate.
Strengthening Relationships
Relationships with employees and clients can be hard to maintain. It’s not uncommon for people’s relationships to falter and business contracts to not go ahead or break down. In order to have a good relationship with clients and employees, give gifts. Giving gifts to such individuals can help them to feel a stronger bond with you. Improving your bond with them can then make them want to work harder and perform better just to please you; in addition, they will want to give gifts to you. You should never give gifts just to get them, but it is a nice bonus.
Other ways of strengthening bonds with employees and clients are corporate lunches, noticing improvements in their work efforts and behaviours, and complimenting personal changes such as new hairstyles or fitness improvements. A lot of business owners focus exclusively on building relationships with collaborators, partners, and clients.
However, the same amount of focus should go into building relationships with employees. If your employees do not feel like you value them then they might begin underperforming or looking for work elsewhere. A good marker of a business’s success is employee retention. Your company’s employee retention rates will help you determine how successful it is.
Bribing People
As mentioned throughout this post, bribing people can get you into a lot of trouble. If you are caught bribing people then the least punishment you can expect to receive is a fine. In more serious cases imprisonment is a definite risk. Some people are sent to prison for many years because they are caught bringing people. Certain countries deem bribery as a type of fraud. If you are somebody who’s determined to keep their reputation clean then bribery is off the cards. Being accused of bribery can destroy your reputation. A bribery charge in some countries could result in you being unable to continue practiicing business.
Gifts can be a good way of getting what you want and encouraging employees to improve their work performance. If you are not careful giving, you could end up unintentionally bribing people; if you plan on giving gifts then in addition to avoiding accidental bribery you also need to make sure that the gifts you are giving are worthwhile and beneficial to recipients.
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