In this our blog post, I would like to share with you some thoughts about gifts that are usually offered on the course of business transactions. The exchange of gifts in business has been in practice for years. While the gesture is good and commendable, most company policies do not support the acceptance of gifts. This is based on the fact that when it comes to businesses, gifts are usually offered for several reasons and in most cases, the giver may have some ulterior motives for offering gifts to the recipient. As directors and employees therefore, we have to be very circumspect at accepting gifts offered to us by our business associates.
By its very nature and definition, gift is something that is freely given. Gifts come in different forms and shapes. Gifts are not limited to cash or monetary compensations alone but include business courtesies, promotional products and items, services like travels, meals, accommodation, as well as other personal benefits that may be extended in connection with the individual’s relationship with an outside entity.
One of the reasons why most company policies prohibit their employees from offering and accepting gifts is that such an act influences an individual’s decisions and thus may constitute a conflict of interest. A conflict of interest is a situation when an employee has two or more competing interests. A situation of conflict of interest can compromise an employee’s decision, action, commitment, and judgment in the place of work.
Furthermore, more often than not, gifts are offered as a bait and inducement. In such a situation, the giver is not doing you any favor by offering you the gift, rather, the giver is expecting you to return the favor given. Most of the gifts given in business come as Greek gift. A Greek gift is a gift given or a favor done with a treacherous purpose. Once you receive such gifts, you will be ready to dance to the tunes of the donors.
Gifts help to facilitate business relationships but employees must be careful to differentiate between gifts and bribery. When it comes to knowing the reason behind the gift that has been given, the intention of the donor, appropriateness, timing, and value in terms of money all play a part in determining whether gifts should be accepted or refused. A gift is given without the intention or expectation of return but a bribe is offered in the hope of influence, benefit or return. To avoid being in a situation of ethical dilemma, it is therefore good for employees to know where to draw the line when it comes to offering and receiving gifts.
To conclude, offering and receiving gifts is good. It helps in building and strengthening business partnership and relationship. However, it can also pose an ethical challenge. There are times when gift is truly not a gift. Outside employees learning to be contended, firms and organizations should also ensure that their employees are well-paid so that they will avoid falling prey to the antics of their business partners who come to lure them with different kinds of gifts.
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