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Gifts, Not Bribes: Seven Best Corporate Gifting Practices For The Holidays—Part Two

Ensuring compliance

To enforce a corporate gifting policy, compliance officers need to ensure the guidelines are effectively communicated to employees, according to Thomson Reuters. Also helpful, Bayer suggested, are leadership oversight, occasional internal audits, and more frequent spot checks in countries where bribery and corruption are a problem.

Gifting policies vary from company to company, and there’s no one-size-fits-all approach. Thomson Reuters recommended these seven best corporate gifting practices:

1.Ensure a gifts-and-entertainment policy is in place, no matter how small the business.
2.Designate gifts-and-entertainment approvers who can interpret and make decisions according to the company’s policy.
3.Implement a cost threshold. Any gift that surpasses the set price point must be approved by a designated manager. Typically, US$100 to US$250 is a relatively standard threshold, but this differs across countries.
4.Implement a widespread tracking system to record gifts given or accepted.
5.Get prior approval for any gifts to a government official, compliance officer, or senior executive.
6.Consider capping the number of gifts given to a single individual in a year and, similarly, the number of gifts an employee can accept.
7.Never accept cash gifts or anything that could impact a business decision, such as obtaining or retaining a business advantage.





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原文見: Gifts, Not Bribes: Seven Best Corporate Gifting Practices For The Holidays—Part Two | SourceEC - Corporate Gifts Malaysia | Promotional Gifts | Door Gifts Blog
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