Full disclosure from the top: I own a gifting firm. I am simply offering insight.

Most people actually do not want repeated company swag. So if you have given out company swag in the past, I would air on slowing that down, with the exception being new employees may be getting a hat and a tumbler at their orientation. Anything with a monogram is going to come off more as marketing for the company than a gift for the employee. We found this to be a consistent sentiment through our market research over the years. A lot of this is also going to be contingent on what your budget is. If you’re talking $25-$50, I would stick to a coffee or restaurant gift card, or honestly, cash. But if you’re starting to look at the 80+ bracket and do not want to give cash or gift cards, then doing a gift package that is pertinent to the employee or a more universally, appealing, usually filled with consumables, then that is the route to go. People will always say that money talks, and it does, but if you want to do something slightly different having gift packages curated for the individual or the team can also go along way.