Ethical Guidelines for Giving Corporate Gifts

Gift giving seems like such a nice and simple practice, but as far as businesses are concerned, there are lots of guidelines that have to be followed. This is due to the fact that there are numerous ethical challenges when it comes to giving corporate gifts and you have to comply with the rules or else you may be in breach of various laws. Even though it is undoubtedly good business when you give corporate gifts to your clients, it is essential to know where exactly you should draw the line and avoid any legislation. Appropriate guidelines should be mentioned regarding gift giving in the ethical policies of a business.

The primary reason why corporate gifts pose an ethical dilemma to a business is because they can also be construed as bribery. While there is no denying that these gifts can play a very major role in maintaining a positive relationship with employees and clients alike, sometimes the occasion, circumstances or value of the gift may take them into the bribery territory. For instance, it is perfectly acceptable to pay for throwing a business lunch for your clients or giving them promotional gifts such as pens, shirts or cups because they facilitate relationships and are deemed as good business practices. However, giving a potential or existing client a car or a fully paid vacation can be regarded as bribery.

The best way to distinguish between ethical and unethical corporate gifts is through several factors including the value of the gift, its timing and also the underlying expectations. For instance, when you gift a contractor a nominal predetermined value item as a thank you for meeting a deadline or to clients during Christmas, it is regarded as both ethical and acceptable. However, when you are giving a high-value item as a corporate gift and there are strings attached with it, it cannot be considered ethical. It is a bribe when corporate gifts are given when there are pending and unconfirmed sales or there is a contract award involved.

A business needs to implement an ethical gift-giving policy to ensure they are within the guidelines. This enables it to enjoy the benefits that are associated with corporate gifts. Different gift companies are out there that offer handsome discounts on buying corporate gifts in bulk, such as Gaps, a corporate gifts supplier Singapore. When you give gifts to clients, you are able to develop a connection with them and strengthen your relationship. In addition, it is a subtle yet effective way to advertise your business and ensuring that it is on the mind of your clients.

When corporate gifts are chosen with care and in accordance with the tastes and preferences of clients, they will be immensely pleased and this can encourage them to recommend the brand to others. Apart from that, corporate gifts can also be given to your staff and employees for boosting their morale and instilling the concept of unity. A productive workforce can pave way for a successful business and you should always make the effort of appreciating your employees via simple corporate gifts. The key aim of corporate gifts, whether to clients or employees, is to enhance business reputation and establish a positive image. 

Comments are closed.