As much as you are in the best position to get more business from your customers when you use corporate gifts, doing it the wrong way might lead to problems. This is especially true considering the ethics of giving corporate gifts. You need to take care so that you don’t end up losing more business just by ignoring some salient facts.
If you ignore these facts and end up doing things the way you like, you will soon be faced with a team from the ethics and compliance department due to an ethical issue that you overlooked.
There is no doubt that when you give the right corporate gifts, you end up with more benefits to your business. You get to build meaningful business relationships that will translate into more revenue for you. At times, however, whatever represents a gift and a bribe can be unclear, which is the reason why you need to put everything straight before you take the vital step. Let us look at several aspects you need to consider.
What do you expect from this gesture? If you are looking to gain something favorable out of the whole deal, then it isn’t a gift at all. For instance, if you are on the brink of closing a deal and you decide to give the customer a gift to make the process easier, you are looking at a bribe. Additionally, if you send another business a gift just before they close a tendering process, then this isn’t a gift at all.
Choosing the Person
The person you give the gift to, believe it or not, might determine whether it is a gift or something else. Giving gifts to certain persons, such as public officials can be deemed a facilitation payment for a service and might arouse suspicions.
The Need for a Clear Policy
Your employees need to get all the information regarding giving and receiving gifts. The employee tasked with the job ought to understand what he should or shouldn’t do. This guidance ought to be included in the company’s code of ethics. The code needs to be consistent across all aspects of the organization and make a good example for the employees. Following the code to the latter will save you a lot of embarrassment and reputation.
Know Your Limits
You need to also understand the limits to which you can go to give out gifts in business. Some companies don’t encourage their employees to receive gifts from others. You might also have to desist from giving your competitor gifts that might bring about acrimony.
The Right Gift
It also boils down to the kind of gift you ought to give to the recipient. For instance, you need to take time and understand what a client will prefer and then come up with the best gift for the occasion. Perform research and know the personal preferences, hobbies and any special wants that the client might have before coming up with the gift.
Failure to take these factors into consideration can lead to the recipient getting a wrong idea from the gesture. He might end up getting offended and even shun your business products and services. The right gift will elicit the perfect response from your intended recipient; the opposite is also true.
As much as you stand to gain a lot from the use of gifts, you also need to do the right thing. Make sure you follow laid down policies regarding gifting in the area that you trade in. You also need to know your limits and take care not to overstep them.