What constitutes a healthy company workflow? A nice office interior and ambience, fun work hours with necessary breaks, convenient leadership, and flexible work hours, right? But is that all that satisfies your employees? If yes, then what makes employees quit a company leading to a huge voluntary turnover rate?
Well, many employees tend to cut their ties with companies that lack adequate employee reward and recognition programs in their work culture. Thus, employee gifting and R&R are hugely adopted by those companies as cutting-edge strategies for employee engagement and retention with innovative corporate gifts.
However, there are some potential challenges like corporate gifting management difficulties, inventory optimization-related problems, huge expenditure, lack of tools and resources for real-time tracking of gifts’ orders, etc., which lead to shortcomings in conducting healthy employee recognition and R&R programs. So, here’s a complete guide on different challenges faced by employers in conducting corporate gifting programs and how they can do away with these issues.
In managing the entire corporate gifting program, right from gift procurement to delivering them to your employees, corporate sectors face many issues. Most of the time, due to lack of transparency and accountability, there occurs misuse of budget for branded corporate gifts.
Many organizations face hard times in managing finances for merchandise-based gifting programs. Also, due to poor transparency, the money trail lacks online documentation.
One of the cumbersome tasks for employers is to manage multiple vendors for corporate gifting. As employers finalize the order with vendors, many hassles come along with it.
From vendors haggling on prices to failing in adhering to deadlines, these issues can cause a massive delay in the entire process of gifts’ delivery.
While procuring physical gifts for your employees, you need to maintain both quantity and quality. However, if a few products get misplaced or damaged while storing them, it can amplify your challenges.
So, to avoid such hassles with physical gifts, many employers opt for gift coupons and vouchers as corporate gifting ideas for employees. But if these vouchers or cash-loaded gift cards get stolen or missed out, it can adversely affect the entire system and create more obstacles in practising a healthy gifting program in your company.
Upon completing gifts distribution to your employees, you are hardly left with any data on the particular gifting program. Especially for eVouchers, you will barely know if your employees have used them or not.
So, it becomes cumbersome to determine whether your corporate gifting program was compelling enough for your employees or needs more improvements.
Well, achievements must be celebrated as they are unfurled; otherwise, the value of rewards gets waned out. Though employers usually plan an event for award gifting beforehand, they conduct some programs entirely unplanned. And these unexpected programs render employees with immense happiness, making them more productive.
So, employers can either offer on-the-spot rewards to your team members or a token of instant appreciation to one of your vendors for their outstanding performance. But in either case, you need to keep your gifts’ stock ready. So, if you lack instant gifting solutions, organizing such sudden R&R programs would become challenging, making it difficult to leverage employee engagement to a maximum level.
Even though there are challenges, employers can efficiently resolve them by availing of expert corporate gifting solutions. So, here is how a corporate gifting company can help you.
Adding value to your employee reward and recognition program with innovative corporate gifts is necessary to amplify your employee retention score. But managing the entire corporate gifting process takes a lot of resources and effort, which is difficult for employers to spare all the time.
Thus, approaching a one-stop corporate gifting company that can handle all your R&R related responsibilities is a good decision to make. It reduces your expenditure and offers you the freedom to focus more on your business goals and other metrics of your company.