Business Gift Giving Tips

No matter what kind of business you are in, you owe much of your success to your employees and your loyal customers. Even though it has been a rough year for many of us, expressing gratitude to customers, employees, subcontractors, vendors and others who have helped keep us afloat is more important than ever. Here are some rules-of-thumb when choosing gifts to let your team know how much you appreciate them.

If the gift is for a customer or prospective customer, check with the company to see if they have any rules regarding the type of gift they are allowed to receive. Some companies may not allow their employees to accept gifts at all, and regulated professionals may be limited on the value or type of gift that they may accept.

Never give a gift in lieu of compensation for wages or services. Cash is for payroll and settling invoices. Gifts should be over and above with nothing expected in return.

It's better to give a gift for the individual's business use. Personal gifts may offend some clients or employees. Keep in mind the diversity in tastes and lifestyles of the group you are giving to.

Set a budget for your corporate gift giving. Try not to go overboard with elaborate gifts that you can ill afford, yet don't cut corners by distributing "cheap" ad specialties items left over from the last trade show! Gifts may be customized with a logo, yet tastefully done. For instance, an engraved Cross pen vs. a pad printed plastic ballpoint with a bobble head.

Give gifts that make recipients feel good. Food gifts are always welcomed, but make sure something non-consumable is part of the package. A selection of nuts or candy packaged in a decorative wooden box, for example.

To make more of an impact, consider giving gifts at Thanksgiving or New Year's. A simple greeting card during the peak holiday season is often enough.

And corporate gift giving can be less expensive than you might think. If you plan ahead you can order tastefully customized items in bulk to reduce the overall price. The key is to find a modestly priced item and give it a higher perceived value by adding your corporate logo. This makes even an ordinary desk clock a unique and cherished keepsake. The point is to go out of your way to say "thank you".