I don't care what the study says, I have always thought that gifts (other than cash) from my employers are annoying.
The optimal method (from the employer's side) seems the choice between cash and a gift. Most people choose cash, but the 'attempt' at a gift appears to generate value from the perspective of the employee
Right, but if the employer is choosing a "gift" because that will benefit them, then it's not really a gift. It's just a form of manipulation. Anyway, this is just one study and I don't put much stock in it.
Unlike many headlines suggesting gifts are inefficient, gifts from employers increase workers' productivity.