Nothing quite compares to the loyalty between a company and its manufacturing partner. As we kick off the New Year, businesses can look to doing a better job at maintaining that relationship as it directly affects the future success of their organization.
Your manufacturing partner is the backbone of your business. While you’re spending hundreds of thousands of dollars on production, your workers are laboring to complete tasks at a fast response rate while avoiding the possibility of defects …
Enter gift-giving, stage left.
According to a study by Harvard University, those who received gifts were seen to care up to 83 percent more about their company than those who didn’t.
With the Chinese New Year approaching, sending your manufacturing partner a gift of appreciation is the perfect way to strengthen that relationship. And not only is gifting the “right” thing to do, but it genuinely shows your partnered factory that you care. You may even see higher morale and increased production rates.
Why Does Corporate Gifting Matter?
Receiving a gift is a meaningful experience. Irrespective of the gifted items, giving someone a gift creates a stronger sense of connection and could lead to more positive associations between the “gifter” and the “giftee,” or in this case, the company and their manufacturing partner.
And it’s not a recently designed activity. For decades, the power of gift-giving has been used by millions of companies to secure relationships between prospects, employees, or clients. More specifically, corporate gifting can be used hand-in-hand with manufacturing partner retention efforts.
How so? Psychologically speaking, when a person or group receives a physical gift, it results in the Endowment effect — or the sense of valued ownership over an object, which is often higher than its actual market value. This effect creates feelings of trust the receiver has in the individual who gave them the gift.
Since trust is a key trait that must be reciprocated between an employer and an employee, gifting your manufacturing partner this Chinese New Year can indirectly lead to various benefits.
Not only will the factory feel more valued upon receiving a gift, but workers may even foster a new sense of connection and belonging to the entire organization, causing them to become more motivated to contribute to the company’s success.
Advice for Corporate Gift-Giving
While gift-giving is typically a happy and generous activity, some laws and guidelines must be considered and followed in the corporate world. Thus, it’s important to establish a gift-giving strategy that’s built around both you and your partner’s company code, values, and culture.
Gifts that generally fit within this criteria are shareable items that are unique and low-cost. Likewise, if your manufacturing partner has a particular charitable organization they’re passionate about, sending them a charitable gift is always a reliable option.
Additionally, you may want to look into your industry’s regulations on the subject of giving and receiving gifts. Some industry gift-giving laws date back multiple decades, whereas others have been updated and modified since then. Either way, it’s best to play it safe and do some research before finalizing the gift for your manufacturing partner.
If you find no clarification about your industry’s gift-giving policies, stick with being cautious and economical. Just as mentioned before, you can never go wrong with shareable gifts, or even useful and fun items that relate to the interest and passion of your factory partner.
The worst that could happen is the receiver says they can’t accept your gift, and the only pain upon that will inflict is your pride. Still, it’s worth taking the time to make sure the item you’re gifting falls within your manufacturing partner’s corporate gift-giving guidelines.
Browse Sourcify’s Gift-Giving Options
Let’s face it: some people are better at gift-giving than others, and maybe your company’s team is having trouble finding a gift suitable for your manufacturing partner in time for the Chinese New Year.
Luckily, Sourcify makes it easy for you.
Sourcify offers two gift package options for companies looking to show some love to their manufacturing partners. For businesses on a budget, you can send your factory a special gift basket with fruit, candy, accessories, and more — all for just $500 — and it’s guaranteed to arrive before the Chinese New Year.
Looking for a higher-quality gift that’s more personal? Sourcify also offers a $1,500 gift package, including everything in the smaller package, plus more. You can even attach a handwritten message wishing your partner a Happy Chinese New Year.
If you want to show how much your factory means to you, purchasing a gift package is a great option that allows items to be shared, loved, and cherished.
Harness the Power of Gift-Giving This Chinese New Year
The relationship between you and your manufacturing partner is a crucial one, and the easiest way to show them your appreciation is by giving them a gift this Chinese New Year.
Regardless of the size of your budget, your gift recipients are sure to be grateful for the gesture. Not only does it make them feel valued, but it can also help motivate your entire organization to move your business in the right direction.
Then, you can start the New Year off with a stronger sense of trust between your company and your manufacturing partner. If you’re interested in harnessing the power of gift-giving this Chinese New Year, reach out to Sourcify to purchase your gift package.
