Tis the season for giving – to clients and staff – and you’re wondering if it’s time to put a stop to all of this. Do visions of doubt (not sugarplums) dance through your head:
- Can you afford it with the economy and business the way it is?
- Will some employees be offended because of the religious associations to Christmas?
- Are all of the options in your budget too cheesy to make it worthwhile?
- Is it too much effort to figure out what to get?
Well, at LGK we say absolutely! Despite whatever objections you might have, it important to give thanks to your clients for their business and let them know you appreciate whatever they have done with you the past year. If possible, the gifts should be hand delivered and thus provide an opportunity for face-to-face contact and greetings. If this isn’t enough of a reason, consider that portions of your gift may be deductible. Check with your tax adviser first about the limitations and what sorts of purchases are excluded. For example, promotional gifts with your company logo are probably not deductible. Some affordable options:
- Latest tech gadget (such as the Logitech Cube, which is a mouse-presentation aid combo) or the Sky Wifi Smartpen (which allows you to record and write with pen and paper and transfer them via wifi to a laptop, tablet or smartphone)
- Book (book of quotes, coffee table book, book related to their industry, business book)
- Nice bottle of champagne
- Service discount from you (if appropriate for your business)
- Catered lunch (or breakfast) for their staff
- Something personal (but not too personal – no perfume or clothing please!), perhaps related to a hobby (a heart monitor for a fitness buff, a new cooking utensil for the home chef)
A favorite of ours is The White House Christmas Ornament. The White House Historical Association comes out with a new collectable ornament each year, beautifully packaged in a classy box, perfect for gift-giving.
Just as important is something for employees. It is an expectation at this time of year and it boosts morale, particularly in a slow year as well as it creates a feeling of goodwill and a festive atmosphere. And despite the religious undertones, it can be positioned as year-end “thank you,” rather than a Christmas gift. Less expensive options can be in the form of an extra day off or a nice crisp $100 bill. It’s often safer to give everyone the same thing and to be mindful of any special circumstances – for example, the champagne option might not work or be appropriate for some situations.
A final thought — stay away from the Jelly-of-the-Month Club. It caused Clark Griswald to lose his composure in National Lampoon’s Christmas Vacation and we’d hate for your heartfelt thank yous to turn into a year-end disaster.