Branded swag is key to onboarding new hires, supporting employees, and creating a positive work environment. A happy employee is a productive employee and a loyal one too. It is important to include swag as part of your annual business budget so you can acknowledge, reward, and retain your hardworking employees.
Consider these four tips when preparing your annual business budget. These will ensure you maximize your future employee swag budgets, and fully reap the benefits from your remaining 2021 budget.
1. Divide Up Your Budget Per Quarter
When creating your swag budget, the first thing to consider is how much you want to spend each quarter. Since the holiday season falls in the last quarter we recommend allocating more money to the fourth quarter than each of the first three quarters in order to provide a higher quality item during the holidays. The following provides an illustrative example based upon a hypothetical $6,000 annual employee swag budget.
It is important to remember that employee swag gifting is a marathon, not a sprint. Do not spend all of your budgets at the start of the year! We will reserve $500 for this first quarter which is around 8% of the budget. Less expensive items do not mean low quality at YouInkIt. There are lots of reasonably priced items to choose from.
An example of a good swag item to purchase in this quarter would be a customized ballpoint pen. This is an inexpensive gift but extremely useful as everyone can use a good pen! It is simple, yet still effectively shows your employees that you appreciate their work. To make this gift more special, you can gift it with a notepad from YouInkIt to encourage your employees to write down their new year career goals, personal aspirations, and items to accomplish in the coming months.
The year is rolling and things are great at work! April, May, and June, and your employees are anticipating an exciting summer! We recommend allocating $750 of the employee swag budget toward appreciation gifts, which represents 12.5% of the total annual budget. One of YouInkIt’s apparel items would be the perfect gift for a second-quarter employee surprise. A t-shirt allows your employees to represent the company in their day-to-day activities. This inexpensive gift will show your appreciation and also serve as a corporate promotion.
Summer is finally here and we have the perfect gift for this quarter. We suggest keeping the same budget as quarter two of 12.5%. Within this budget, you can find the perfect summer gift. YouInkIt carries a full line of fun summer products. For example, with warmer weather, it is important to stay hydrated. This water bottle has your employees’ names written all over it!
The holiday season is here! This is the time of the year where we encourage you to allocate the majority of your budget. This is the gifting season and since you saved in the last three quarters, an expensive gift is not out of reach. We recommend allocating between 30-50% of the annual budget, or $1800 to 3,000 based on the 6,000 budget, for this time of the year. Allocating the bulk of the budget to this quarter allows you to open your budget up to consider apple AirPods or a similarly priced gift. A gift like this will be sure to leave your employees very happy. It will be a wonderful holiday season indeed at your company.
2. Don’t Forget The Other Costs!
What about the remaining budget of about $1,000? We recommend that you maintain an amount in reserve for unexpected costs. For example, there may be additional shipping and fulfillment costs or there may be a need for additional swag purchases throughout the year for new hires (see item three below) or other corporate promotions (see item three below).
3. Project New Hires
A key step when buying company swag is accounting for new hires. Think about how many people you plan to hire throughout the year and consider onboarding your new employees with a swag box. YouInkIt makes the best swag boxes that include your choice of swag that is packaged securely in a company-branded box.
Check out the YouInkIt website and talk to one of our assistants, who can helpfully customize a swag box to meet your unique preferences. We are always aiming to exceed your expectations. Remember too that YouInkIt provides bulk discounts so if you have an idea of how many new hires you can maximize the number of items you can buy! These swag boxes are sure to be a great and unexpected welcome to your new employees!
4. Leave Out Extras For Events
This budget also leaves the perfect amount for extras. Everyone loves great celebrations to look forward to in the busy work world. Anniversaries and other special events are great moments for company swag. Use the extra budget to acknowledge these moments throughout the year as swag can be the perfect trinket to remember these special days.
Take a deep breath now because the budgeting is done and you can expect a great year ahead. Implementing these four easy budget steps will effectively maximize the amount of company swag during the year. More importantly, happy and appreciated employees are productive and loyal employees too. For more information, go to the YouInkIt website that can guide you on all of your swag needs. We are here to help. Don’t delay!