If you want to build, establish, and improve cooperative relationships with your customers or employees, a company gift is the best way to do so. There are two main reasons why you should practice the art of corporate gifting to develop your business: First, it will get you noticed in front of your customers and help you attract more customers, and second, a gift is the best way to show appreciation for the hard work your employees are doing. Customized gifts in Singapore offer many unique gift ideas that you can spread among your customers and employees. There are other hidden advantages to using corporate gifts in your workplace.
Why You Should Practice Corporate Gifting In Your Workplace
1.Makes Your Employees Happy
When you hire a talented employee or have one work for you, you are in direct competition with your competitors and many other companies. Apart from the fact that a good salary package is a reason to work for you, signs of appreciation in the form of gifts and rewards leave a lasting positive impact on the psyche of your employee. This practice of company gifts helps in the long term and also makes a lot of sense in terms of employee retention.
2. Helps You To Save Tax
There are several companies that do not want to record the benefits for their employees on paper, so they do not give them the benefits together with their salary. By giving bonuses and other gifts, they save taxes and benefit from other tax implications. Since giving gifts and rewards is tax-free, you can pass on more benefits to your employees in this way.
3. Emotionally Connects You With Your Employees
When it comes to employees and vendors, money is not always a motivator. This is where the role of giving company gifts comes into play. Receiving a reward or gift from a manager or colleague can speak volumes instead of just giving money, and it also becomes a topic of conversation among people – as opposed to a salary package. This is just like talking about a gift received from family, friends, or colleagues. This creates a stronger emotional connection with the company.
Also read: Top 10 Beautiful Honeymoon Gifts For Couples
4. Helps To Build Healthy Competition
Normally people do not discuss their salary packages with their colleagues at their workplace. No matter what, salaries do not lead to healthy competition, but rather cause jealousy. It is gifts and rewards that play an important role in building healthy competition among employees. This act of appreciation by the company inspires and encourages colleagues to outdo each other, leading to healthy competition in the workplace.
5.The Real Benefit
Finally, let us discuss the main reason for the practice of corporate gifts. Sometimes there are some employees who are an asset to the company and who can easily be retained by increasing their salary to show your appreciation. But you can show the same level of appreciation by giving a gift, and if you look at the perceived value, it will benefit your company. Suppose you give a gift and the actual cost to the company is, say, $500, but the employee will perceive the value of the gift to be $2000, then it will make a big difference to both. So the employee feels nurtured, loved, and pampered.
Next to read: Everything you wanted to know about GIFTS but were afraid to ask!