Incentive Gifts
Fen Tan
Incentive gifts are gifts given to employees as the company's sign of appreciation for commendable performance in the workplace. Incentive gifts are given to either an individual or to a team or department that accomplishes minor and major department or company business goal(s). They can also be given to everybody as a sign of the celebratory or congratulatory attitude of the company, usually after a successful undertaking (i.e. winning of new and bid accounts, surpassing quotas, extension of contacts, birthdays of top management executives, etc).
You can also see incentive gifts when special holidays arrive, such as Thanksgiving, Christmas and company anniversaries. Usually, loot bags or gift certificates are given.
The costs of incentive gifts are not deducted from employees. The funding of these is integrated in the costs of the company for its projection for a specific year. Sometimes, companies that are partnered with other companies use these partnerships to improve incentive gifts as partner companies and corporate clients sometimes shoulder incentive gifts as a sign of support and goodwill and as a way of advertising themselves as well.
There are also available corporate incentive gifts and companies specializing in producing and providing gifts for companies in need that offer a wide array of possible gifts to choose from. These companies also offer incentive gifts to be personalized with the company name and logo.
One important consideration when giving an incentive gift is to make sure it fits the need and personality of both the giver (company) and the receiver (employee or team). Factors to be considered include gender, preferences and personality. For example, a vegan employee wouldn't be too happy if he or she receives an all-you-can eat certificate to a meat restaurant. A beauty shop gift certificate is a good incentive gift, but if it's for a male employee, it would be laughable. The wrong incentive gift might become insulting rather than congratulatory.
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