Importance of Corporate Gifting
Corporate gifting is used as a token of recognition and appreciation through gifting physical or non-physical products in hopes of creating stronger bonds between the company/ brand and the employee. Unboxing gifts creates an experience of emotional connection that forms an encouragement or motivation to take pride in the company.
Psychology behind Corporate Gifts
The effects of gifting creates a ripple on the sense of ownership over an item which translates into an individual valuing it more highly also known as Endowment effect. This effect occurs when an individual gets an unexpected surprise or gift, they will experience such a phenomenon during the action. Thus, influencing a chain effect on reciprocity and trust of an employee’s feeling towards your company, creating an instantaneous positive brand association.
For Employees
Breaking from the tradition of only rewarding on certain official events, companies can reconsider different events of gifting.
- Personal Events: New family member or personal milestone, completion of a certificate or degree program and other personal achievements.
- Company Events: Hitting certain years of service, milestone years recognition, service level acknowledgement or the completion of training programs that further their skills.
- Exceptional Recognition: Rewarding instances where an employee had shown remarkable skills in certain situations or making extra efforts to help achieve a business goal
Businesses need to consider looking internally, not only clients and prospects. Almost entirely, the main success for greater customer outcomes starts from within. Further proven by a study outline that 57% of people feel more valued when they receive personalized mail gifts. Demonstrating that if you’ve ever been the recipient of some nicely-branded, high-quality and productive product it may work just as well for your staff.
A good quality and well-personalized gift became a way to keep employees connected, creating a feeling of being appreciated by your employer. Come up with a few essential branded items they’re proud to own and show off. A team sense of belonging and connection to the company interprets into ways employees fulfill their roles and which also has an effect on external (stakeholders, customers, and prospects) service quality provided. Employees then approach their workday and clients with a positive mindset and higher levels of eagerness.
Case Study
Article from Forbes further mentions that Over 80% said gifts have developed relationships between employees and/or clients, with 48% saying gifting delivered a valuable merit. Out of the benefits gained was making the recipient feel valued (45% reported substantial benefits), improved customer loyalty (43% substantial benefit) and improved employee retention (41% substantial benefit).
Safe to say with such compiled benefits, companies have plans to maintain their ongoing pace of corporate gifting or even increase it.
How to choose a valuable corporate gift?
Budget - Instead of blindly approaching, it is essential to identify a targeted budget on corporate expenses to focus more on gifting ideas and setting realistic gift prospects. Corporate gifts do not have to be luxurious but instead meaningful and functional has a higher impact on employees. Hence, depending on the gifting audience, you can allocate a percentage of budget for each grouping accordingly.
Pick a gifting partner - Make use of Relax to do all of the heavy lifting on your behalf to make corporate gifting easy. Fuss free transactions, we cover selections from 1 year warranty ready stock products to custom printing and shipping the items, Relax offers high quality thermal flask at the fraction of the price without having clients' stress about sourcing inventory. For example: custom branding, shipping services, inventory management, bulk orders, etc. Write to us below for more information.
