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Different Rules Of Companies In Accepting Corporate Gifts

By Patricia Campbell

Gift giving is quite typical in the Singapore trade industry. Stores give their customers small gifts, employers give their staff incentives, and companies give their business partners gift packages. The act of gift giving reinforces commercial relationships and hopes to gain allegiance from recipients. But not everything about it is positive. There are times when it can also turn into a conflict when other people misinterpret the act or they have a secret agenda.

Businesses generally give away corporate gift items like ballpoint pens, paperweights, refrigerator magnets, and notepads. They give these mass-produced items to their workers and to their clients. For their stockholders and client partners, they usually give more extravagant items, such as wine baskets, gift baskets, collector's item pens, and gadgets.

But there are consequences in high-end gift giving Singapore corporate items. Especially if the gift item is very extravagant, the deed might be seen as a bribe, and thus, inappropriate. This usually takes place when the giver and the receiver belong to firms that are in the brink of signing a new contract jointly. Even though the act is in good faith, others might think that it's a bribe, and the deal happened because of the gift.

Some establishments avoid rumour about corruption by totally forbidding their employees to accept any present from clients or other firms. Whether the talk is true or not, the staff are forbidden to accept even a seemingly minor and inexpensive gift, such as a lunch or coffee treat, because others might even see it as accepting a business favour.

Other Singapore companies have a bit more lenient policy in accepting gifts. Their staff can accept Singapore corporate gifts only if the presents don't surpass a certain worth. Some firms still allow expensive gifts but the employee recipient would have to file a report about it, just to formalise everything.

There is nothing inappropriate with giving Singapore corporate gifts. Gift giving fortifies the relationship between firms. But, even when it's done in good faith, there are instances when it can attract negative attention. So it is better to research about the firm's gift accepting policies first before buying gifts for their employees.

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