Corporate Prepaid Cards Highlights the Hidden Costs of Cheap Corporate Gifts

BusinessManagement

  • Author Hanaa El Asla
  • Published August 3, 2023
  • Word count 544

Sydney, Australia – Corporate Prepaid Cards, Australia's leading provider of prepaid Mastercard and Visa cards, is shedding light on the hidden costs of cheap corporate gifts. While cost control is essential in business, cutting corners on corporate procurement can have detrimental effects on a company's reputation and relationships with stakeholders. By investing in quality corporate gifts, businesses can build positive brand buzz, foster stronger connections, and create a healthy company culture.

A recent Forbes article highlighted the negative impact of frugality in corporate gifting. When companies opt for cheap gifts, recipients often feel undervalued, leading to a poor impression of the brand. Additionally, research shows that only 21% of corporate gifts are kept by recipients, while 23% are thrown away, contributing to global landfill waste. Dissatisfaction with low-quality gifts can result in disengaged employees, negative reviews, and substantial costs for businesses.

Corporate Prepaid Cards emphasise the importance of selecting company gifts that are truly rewarding. Businesses don't have to spend a fortune to make a meaningful impact. With smart, sustainable corporate gifting practices, companies can achieve better results within their existing gift budget. Allocating a bit more for gifts can yield even greater dividends, attracting high-performing employees and enhancing brand loyalty.

To ensure corporate gifts delight recipients, Corporate Prepaid Cards offers the following principles for businesses to consider:

Select gifts that reflect company values: Align corporate gifts with sustainability goals and values. Instead of giving low-quality, disposable items, opt for high-quality gifts made from renewable and recyclable materials. Showcase your commitment to the environment and other values.

Always check the reviews: Avoid ordering cheap, plastic gift items. Research and check reviews to ensure the quality of the products. Don't risk giving gifts that break or disappoint recipients.

Recognise employees who go above and beyond: Rewarding all stakeholders involves recognising and appreciating their contributions. By tiering gift values based on performance, each individual's efforts are acknowledged appropriately. This approach motivates high achievers, fosters a sense of fairness, and encourages everyone to strive for excellence, ultimately benefiting the entire organisation.

Avoid "frugal" waste in corporate gifting: Going cheap with corporate perks may actually waste money instead of saving it. If struggling to find suitable gifts within budget, consult an expert in sustainable corporate gifting, like Corporate Prepaid Cards, for guidance and innovative solutions.

"At Corporate Prepaid Cards, we understand the importance of thoughtful and impactful corporate gifting within budget," said Hanaa El Asla, Marketing Director of Corporate Prepaid Cards. "Our Mastercard, Visa and eftpos prepaid card solutions offer businesses the opportunity to provide valuable rewards and incentives that stakeholders will love to receive, every time. With customisable designs and flexibility for recipients to use their gift on something they truly need or want anywhere in store or online, our prepaid cards help companies to create a positive brand experience and foster stronger connections, whilst avoiding wasting valuable budget.”

Corporate Prepaid Cards is dedicated to helping businesses navigate the challenges of corporate gifting and make a lasting impression. Through their prepaid card solutions that can be used in over 37 million retailers in store or online, businesses can empower their recipients with the freedom to choose their own rewards, enhancing engagement and loyalty.

For more information about Corporate Prepaid Cards and its prepaid card solutions, please visit https://corporateprepaidgiftcards.com.au/.

For more information about Corporate Prepaid Cards and its prepaid card solutions, please visit https://corporateprepaidgiftcards.com.au/.

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