This week's corporate gift tip is response to a frequent question in our mailbag: Just how much should you spend on corporate gifts? As with all business decisions, it always comes down to what your budget can afford. However, one should emphasize quality over quantity within the constraints of the budget whenever possible, since maintaining a good image should be a high priority for any company -- giving out many flimsy gifts will not do anything to help your brand.
Companies looking for more stringent guidelines should consider a metric system for determining the amount spent. From our past experience, most companies average about $15 for each year of employment. For example, under those guidelines, a $120 employee gift would be appropriate for an employee with 8 years of service. This system can have the added benefit of reducing claims of unequal treatment in gift giving, while still allowing employees to reward those with more years of dedicated service.
Gifts to clients are usually considered with more gravity, with average amounts ranging from $20 to $30. This should really be determined by the nature of your business relationship with the client. The more long standing contracts and major accounts should be rewarded appropriately...it makes sense, after all, to pay more attention to the businesses that provide the foundations of yours.
