Gifts are the expression of love, appreciation or gratitude of one human being to another. They are given without any expectations of a return of favour. In short, they are not kickbacks, but are given with the intention of giving the person something of use or something to remember by. Who does not love gifts? Different kinds of gifts are given on different occasions. There are gifts for loved ones like parents, children, better-half, boy/girlfriend, friends etc. as there are for formal situations. One of the kinds of gifts give in formal situations is corporate gifts.
A corporate gift is the type of gift that is presented by a corporate or business company to the recipients whom the company wants to convey appreciation to. These recipients are usually the ones from whom the company believes to have sought some sort of benefit. There are various target receivers of corporate gifts. They are as follows:
- Employees of the business: Companies often present their customers in the form of awards for doing an exceptional job at work. These usually comprise of cash gift, gift voucher etc. Also every employee is given a yearly gift as a token of gratitude for taking the company forward with its agendas.
- Customers: As a public relations strategy, customers are often gifted by the companies. This kind of gift implies that the company wishes to continue to enjoy the lucrativeness of the relation between itself and the customer, when the customer has generated an equitable amount of sales in the past calendar year.
- Shareholders of the company: Shareholders are often given corporate gifts in the form of tangible gifts or stock splits. These signify the company’s gratitude and appreciation for buying their stocks and making the investment.
- Supplier: Suppliers are gifted usually when they associate with the companies for a very long time or during tough economic conditions.
- A local charity or community: Companies usually gift charity or a community to display their CSR (Corporate Social Responsibilities) activities. This also increases the company’s awareness in the public.
- Clients: For the service industry, clients play a major role in continued revenue generation after the company takes up their projects.
Types of gifts that can be given:
Employees of a company can be given both tangible and intangible gifts. The tangible gifts would include gift cards, money, an electronic gadget, a souvenir, personalised items such as pens, key chains, bags, calendars etc. Employees are given the personalised items usually during the orientation program as a part of warmly welcoming them into the company. The intangible gifts would be offering the employee and his/her family a vacation trip as reciprocation of the employee’s long tenure or exceptional service to the company.
Customers, clients or suppliers could be given the company’s products themselves. They can also be offered a gift voucher or gift points to shop at their company’s store or their associated products. These points are usually accumulated in the customer’s account when they shop at any Titan associated brands and can be used to avail discounts or sometimes buy an entire product by solely using these points. This gives the customers a sense of satisfaction after buying a product of a company.
Stockholders, similar to the customers can be given products of the company or any tangible personalised gifts as a token of appreciation of investing in their company. In addition to sharing their profits with the shareholders, the companies also split stocks to increase the number of stocks offered to the investors. This process is usually done by the year end if the company does exceptionally well throughout the year or any other special occasion such as a milestone in the journey of the company.
A local charity can be donated any relevant product that the company might produce. Voluntary services by the company also act as corporate gift. For example, a company might donate a part of the revenue generated by each product sold for a social cause. Community service such as environmental friendly initiatives is indirectly gifted by the company.