“This level of service is uncommon in the industry, but this is how corporate gifting should be done in 2024”, according to Shmuel.

According to the “State of the Global Workplace” report by Gallup (2023), a significant 52% of staff members acknowledge feeling disconnected from their jobs. 

What’s the impact of this on the workforce? Well, this lack of engagement isn’t just detrimental to productivity; it also incurs a substantial cost to U.S. businesses, estimated at $450-$550 billion annually. So of course, you bet that prioritizing employee appreciation is vital for any small or large business looking for sustainable growth. 

With this in mind, what strategies can ensure employees maintain satisfaction, motivation, and loyalty over the long term? And what role can corporate gifts play in enhancing business growth and fostering stronger relationships? 

Shmuel Moses, CEO of Sockrates Custom Socks, a true specialist in corporate gifting, offers his insights on how corporate gifts can positively impact your company in three significant ways:

1. Employee Commitment

Recent studies show that 82% of employees feel more appreciated when they receive gifts from their employers. So corporate gifts clearly play a key role in making employees feel valued and fostering a sense of belonging. 

Additionally, personalized gifts for different teams or departments strengthen emotional connections, leading to lower turnover rates and retaining top talent.

2. Team Productivity

Recognizing employee efforts with corporate gifts greatly enhances morale and productivity. Studies indicate that 85% of employees are inspired to increase their efforts when they receive recognition for their work. 

Therefore, these meaningful gifts, whether they’re custom socks or other items, can act as powerful motivators during busy times or tough projects, resulting in improved performance and reduced turnover rates.

3. Building Customer Rapport

Corporate gifts play a vital role in cultivating client relationships and expressing gratitude, as shown by research that claims that 73% of clients are more inclined to continue doing business with firms that offer tailored experiences. 

These personalized gifts strengthen brand loyalty and function as discreet marketing instruments by improving client retention and acquisition. 

This personalized approach certainly distinguishes your company and fosters enduring connections that are invaluable in today’s fiercely competitive marketplace.

Selecting the Ideal Corporate Gift Partner

When picking corporate gifts, look for a partner who handles everything on your behalf. 

While some providers offer excellent products, not all provide comprehensive solutions that cover design, packaging, and delivery without requiring additional assembly or delivery. 

Companies like Sockrates Custom Socks provide end-to-end service, managing everything from manufacturing to shipping. This includes designing custom socks, crafting unique packaging, and preparing assembled sock kits for their valued customers, partners, and stakeholders. 

By offering the convenience of shipping orders directly to your office or employees’ homes, Sockrates guarantees a smooth experience for both givers and recipients, boosting efficiency and satisfaction. This level of service is uncommon in the industry, but this is how corporate gifting should be done in 2024, according to Shmuel. 

Conclusion

In an age of “quiet quitting,” it’s essential to show appreciation to employees through thoughtful gestures for business success. Remember that engaged employees lead to 41% less absenteeism and 17% higher productivity. 

Corporate gifts that are on-brand, practical, and truly valuable are strategic investments that foster appreciation, loyalty, and excellence, helping to reduce turnover and enhance brand recognition, which is crucial for organizational success.

Sources:

• ASI Central. (2019). “Employee Appreciation Study.” Retrieved from: https://media.asicentral.com/resources/research/ASI-Employee-Appreciation-Study.pdf

• Glassdoor. (2017). “Employee Appreciation Survey.” Retrieved from: https://www.glassdoor.com/employers/blog/employee-appreciation-day-survey-2017/

• Incentive Research Foundation. (2019). “Employee Recognition: The Key to a Strong Organizational Culture.” Retrieved from: https://theirf.org/research/employee-recognition-the-key-to-a-strong-organizational-culture/2722/

• McKinsey & Company. (2021). “Employee Recognition: Paving the Way to Productivity.” Retrieved from: https://www.mckinsey.com/business-functions/organization/our-insights/employee-recognition-paving-the-way-to-productivity

• Promotional Products Association International (PPAI). (2020). “Study of Promotional Products and Their Impact on Customers.” Retrieved from: https://cdn2.hubspot.net/hubfs/4938921/Assets/PPAI%20Research/2020_PP_Here_for_Good_Factsheet.pdf

• Advertising Specialty Institute (ASI). (2019). “The Global Ad Impressions Study.” Retrieved from: https://media.asicentral.com/resources/research/GlobalAdImpressionsStudy2019.pdf