The Importance of Retirement Gifts

Of all the important milestones in a person’s life that are celebrated with gifts – birthdays, marriages, new babies – retirement may be the most often overlooked and least celebrated. That’s a real shame because the transition from working life to retired life can be one of the most significant events a person will ever face and one of the most emotionally laden. 

Because retirement is less celebrated, it can be difficult to find practical advice on retirement gifts to mark this major life change. That’s why CorporateGift.com’s gifting experts have drawn upon their experience and research in corporate gift ideas to create this concise guide to selecting retirement gifts worthy of the dedication the employee has shown in their career.

As stated, retirement can be one of the biggest life changes a person experiences, often accompanied by a swirling storm of mixed emotions from joy to dread. In fact, it has been established that retirement is among the most stressful life events we face. 

Retirement gift giving does a number of positive things to counter that stress: 

• It shows gratitude to the retiree for years of service and demonstrates that the employee is leaving on a positive note, a career “high.” It can reassure the recipient that years spent at a company were valued, that they weren’t just another replaceable cog in the corporate machine but an essential asset to the company’s success.    
  This can offer the recipient a sense of accomplishment that they can carry over into their retirement years.    
   
• If the gift is tailored to the recipient's hobbies or other interests, it can reinforce the idea that retirement is not an end but the start of the next chapter, a chance to explore new skills, goals, and accomplishments. It also provides a personal touch to show you care.    
  And, if done publicly, rewarding long-term employees demonstrates that the company will support team members to the end. This can be a subtle but effective reinforcement for employee retention, which has become a battle in many industries today, with 41% of all surveyed workers admitting that they’re looking for a different job.   
   
• One of the reasons for the current state of generalized employee dissatisfaction is that workers don’t feel appreciated. In these days of economic uncertainty, where sudden job layoffs happen with alarming regularity, they fear giving loyalty to an employer because they doubt the employer will be loyal to them.       
  Publicly recognizing and rewarding long-term employees shows everyone in the organization (and even outside observers) that your company is one that truly appreciates the value of its individual workers.  

The purpose of giving retirement gifts, of course, is to make the retiree feel special and appreciated – to let them know that their unique contribution to the organization is recognized and valued. Therefore, the more personal and unique the retirement gift, the better.  

Corporate retirement gifts can be customized by company. If a person has given a good deal of their career to a company, it’s fitting that the leaders of the company would want the retiree to feel connected even in retirement. Gift items that carry company branding can continue to reinforce the feeling of camaraderie. 

This doesn’t mean the same branded swag that you might send a client. Retirement gifts are a thank-you, not really a promotional opportunity. In the case of retirement, the branding may be more subtle, an elegant reminder of the recipient’s long association with the company. It helps if the gift is also tied to a personal interest of the recipient. 

Retirement gifts can be tailored based on the retiree’s interests. If the honoree is an avid golfer, for instance, they’ll appreciate the retirement gift of the latest putter or must-have driver. Or a cool new golf bag. Even better, they’ll think of you and the company every time they play if you fill that new bag with a shiny complete set of clubs.

 Is the retiree looking forward to traveling? Nice luggage will help them get on the road to freedom.

The perfect retirement gift can be simple, or it can be lavish. It’s smart to select the best you can afford; the perceived value of the gift is a visual sign of how much the recipient is valued.

The most personalized retirement gifts are “made” for the recipient, ones that include their name, initials, or other words that are personal to them. It could be a monogrammed flask and shot glass set, or personalized cufflinks. Classic engraving of their initials or other messages is a distinctive touch that people appreciate. 

The earliest known example of employee retirement gifts was 13 BC, when Emperor Caesar Augustus gave his loyal soldiers a retirement package of 13 times their salary after 20 years of service. 

In the U.S., it wasn’t until the Social Security Act was passed in 1935 that many Americans could afford to retire. It is only since then that retirement gifts have become an established tradition.

Starting in the early years, the gift of a gold watch, typically a pocket watch, became the classic notion of a retirement gift. The watch symbolized the time the employee had spent working for the company's success and was a reminder of the free time the retiree could look forward to.

Today’s retirees, however, would probably prefer a smartwatch!

Simply put, there are no traditional gift suggestions for retirement as there are for wedding anniversary gifts. This leaves you a world of options from which to choose a unique retirement gift for anyone.

Most companies budget between $50-200 on average for employee and client gifts (not including employee bonuses). However, these days, when the competition for talent is fierce, companies that wish to really show appreciation to their employees spend upward of $200-500 on gifts.  

For retirement gifts, you may want to spend in the higher range. This gift is intended to celebrate the pinnacle of a person’s career. The quality of the gift should reflect that.

Always opt for quality. Going with low-end products and unknown brands, especially when gifting technology items, will not win you any fans. The old adage of what you give is what you get also applies here.

Once upon a time, the gold watch was considered the gold standard of retirement gifts. Fifty years ago, luggage was also a popular retirement gift, perfect for the retiree who planned to travel and see the world. Plaques, trophies, and other award-type gifts were also commonly given to mark the lifetime occasion.

Sporty types might have been rewarded with gifts that would help them play their favorite games: golf clubs or tennis rackets were big in the 1970s, as were bowling balls. Hunters might be presented with a special shotgun; fishing enthusiasts might be gifted a new rod and reel.

Today, all those items are still given as retirement gifts, but times have changed a lot in the last fifty years, though, and retirement giving has changed with it. 

People today tend to live longer, enjoy better health, and are generally more active after retirement. Retirement gifts today reflect that change.

How about a folding Oru Kayak? That’s the kind of gift that makes a big impression these days, perfect for the whitewater daredevil or lazy creek floater. If water isn’t their thing, then you could also choose a stylish coastal cruiser bicycle, perfect for weekends or trips to the beach. 

High-tech wasn’t an option back in the day, but today, tech has transformed all our lives, making cool electronics one of the most appreciated retirement gifts. What retiree wouldn’t like a custom Apple iPad Pro to keep them entertained and informed? Or how about a customized set of JBL wireless over-ear headphones to boost their enjoyment of music or podcasts? 

Spa gifts and other gifts that are useful for reducing stress and increasing peaceful pleasure have become more prevalent in our increasingly fast-paced times. These gifts, like the Peace and Pampering Care Package Gift Box say “it’s YOU time now. Relax and enjoy yourself!” 

The biggest (and best) change in gifting in the last fifty years is the ease of handling corporate gift-giving today with a managed corporate gift selection and purchasing program such as CorporateGift.com’s innovative CG Elite Platform. 

CG Elite allows you to take complete administrative control over user roles, workflow approvals, and budget allocations across departments, teams, and even individuals -- all in one place. 

You can precisely tailor CG Elite’s native gift marketplace to your requirements. Set net and all-in price limits per campaign or gifting occasion, restrict products such as alcohol, include/exclude specific sellers -- whatever you need to be compliant with company policy.

1.  Privately. If the recipient is one who shuns the spotlight, a private presentation of a retirement gift might be the way to go. Having it delivered to the recipient with a note would get the job done but it’s also not the most personal option. It’s better to meet and gift in person,  so the proper appreciation can be expressed on both sides along with the gift. 
    
2. Within a small group.  In some cases, the presentation of a retirement gift is done with a select group of attendees, say a work team or a company’s partners. This lets the employee feel special and part of an inner circle of peers. 
    
3. Publicly. Most often, retirement gifts are given during a public event, often a party, to celebrate the occasion. The event could be a quiet one, just a short speech and gift presentation at a scheduled company meeting. Or it could be a full-fledged celebration with potluck or catered food, drinks, speeches, and perhaps a celebratory video or two. Including all employees in the event shows them that your company truly appreciates its loyal staff, a subtle reinforcement of retention. 

Prefer to gift directly from your CRM, ERP or marketing automation tools? No problem. CG Elite can integrate. Team members can choose the application they prefer for their day-to-day gifting. 

You may organize recipients by groups with Address Books. Assign gifting options, rules, and budgets to each Address Book, create automated triggers by group, or select an Address Book in checkout to send to recipients with one click. Sync your Address Books with your ERP or CRM to keep them always up to date. 

You’ll be able to streamline and scale gifting with automated rules and triggers. Never miss a birthday, milestone, renewal reminder or ABM drip!

Send to tens, hundreds, or thousands of recipients with one click through saved Address Books or .csv upload. Or automate gifting through your CRM or ERP with pre-defined rules and triggers. 

You can even view recipients’ expressions of gratitude! CG Elite invites recipients to send thank-you notes right through our system. This is one of our corporate clients’ favorite features! 

Trusted by top brands such as KPMG, NBC, Walt Disney, Yelp, Conde Nast, Jimmy Kimmel Live, and many more, you can trust CG Elite to take the headaches out of corporate gifting. 

No matter how carefully you choose employee anniversary gifts, you could send a gift that isn’t appropriate – chocolates to a diabetic, for instance, or wine to a teetotaler. 

CorporateGift.com offers a simple way to ensure that your recipients get the gift they want with the new "Let Them Choose!" Gift Collections. 

Let Them Choose Collections allow you to invite your employees, clients, or business contacts to select their favorite gift from a curated set of products within a defined budget range. 

With CorporateGift.com’s build-your-own Let Them Choose Collection feature, you can set up specific gift offers to employees. Your recipients choose what they like, and your gifts will ship directly from our marketplace or your dedicated inventory (depending on the item and your strategy). 

Let Them Choose Collections take all the guesswork out of giving by letting your recipients choose their favorite from a selection, or you can create your own offering. For example, you can create a gift that offers a choice between a food-packed gift basket, company-logoed clothing, or useful tech – something to please everyone. 

You also have the option to enable exchanges or upgrades for other gifts in the CorporateGift.com Marketplace – the largest in the world.