THE IMPACT OF CORPORATE GIFTING ON EMPLOYEE MORALE & RETENTION RATES

Even businesses have joined the gift-giving race, with the corporate gifts market estimated at INR 12,000 crore and growing faster than a cheetah on steroids. And the secret to their success? According to research, 63% of businesses believe that gift-giving is the key to improving customer relationships.

But it's not just customers who benefit from receiving gifts - employees do too! In fact, a well-thought-out gift has the power to boost workplace satisfaction and employee loyalty faster than a shot of espresso. It shows that the employees are respected and valued, which can be the difference between them staying with the company or running off into the sunset.

So go ahead, gift away! Not only will it strengthen your existing relationships, but it might even help you forge new ones. Plus, who doesn't love a good gift?

• Strong relationships between management and employees

One of the most important advantages that might result from a company's participation in philanthropic activities is the development of closer working connections between management and employees. Businesses may express how highly they regard their workers' accomplishments and how much they care about their employees' well-being by giving meaningful presents to their staff members. This might result in a more pleasant atmosphere at work, which in turn could contribute to improved levels of productivity and increased rates of employee retention.

• Motivation to employees

It is likely that acknowledging individual accomplishments and significant anniversaries by awarding workers with gifts from the company might assist to enhance worker morale. This would be done in the form of an employee recognition program. If employees' bosses show thanks and recognition for the difficult effort that they have already put in, the employees may be driven to continue working at a high level. As a direct result of this, workers may feel higher job satisfaction as well as increased loyalty to the company as a direct consequence of this. This is because they will have the sense that their efforts are valued and appreciated.

• Bonds amongst employees

Giving something back to the community is one way that coworkers may work towards developing a stronger feeling of community and camaraderie at their workplace. It's possible that handing out presents to the whole staff may help develop a feeling of togetherness and cooperation among everyone there. If you accomplish this, it's probable that you'll enhance the culture of the company and deepen the relationships amongst the staff members.

Who doesn't love receiving gifts, especially when it's from the boss? Corporate gifting can work wonders in boosting employee satisfaction and retention. Not only does it make your team feel appreciated, but it can also create a happier workplace and stronger brand loyalty. But hold your horses, folks! Just like in any relationship, you have to do it right. Giving a gift without any thought or consideration can lead to disastrous consequences. So let's make sure we're not just giving gifts for the sake of it, but instead, we're giving them with purpose and appropriateness, while respecting individual preferences and cultural sensitivity.

Check out the best corporate gifting options at: https://www.tonicstudio.in/corporate-gifting