One aspect of corporate America holiday season is a phenomenon known as the Yankee Swap.  The rules of a Yankee Swap are simple and works like this:  you bring a wrapped gift in a certain price range.  According to a random draw, you get to choose another gift.  Once you choose a gift, you can optionally exchange it for any gift that has already been selected.   These few simple rules create some interesting dynamics and numerous pitfalls for the neophyte swapper.  For example, if you select a really good gift, for example, a bottle of Bailey's Irish Cream, you will probably not end up with this gift because those that select a gift after you will then change their gift for your gift.  And if you select a really crappy gift, like a scented candle, you will be stuck with it.   So I have created this essay as a guide to optimize your Yankee Swap experience.

So how do you "win" at a Yankee Swap?   There is no sure-fire way to win; but if you consider some simple advice I offer your chances of coming out on top are much better.     This advice is organized into the following areas:  Yankee Swap psychology, buying your gift, pre-swap prep, identify potential exchanges, evaluate your gift, exchanging, and decoys.

First, you need to understand Yankee Swap psychology.  The swap isn't about altruism or thoughtful gift giving.  The Yankee Swap is a public display of your political deftness and decision-making abilities.  If you have a poor Yankee Swap and end up stuck with a scented candle or a doily, throw out all chances of a promotion.   You need to win, and you need to go into the Yankee Swap with a mindset like Rocky Balboa. 

One, you need to choose your gift at the low end of the required price range.  For example, if the gift range is $15-$20, then a gift certificate for exactly $15 minimizes your total expenditure.  Even better is to make your gift a handcrafted gift, like a knitted doily or scented candle from a relative.  The doily ....while completely worthless and unwanted by you....might have a perceived value of $15 or even higher.  Well, actually, no one will believe the doily has a value of $15 or more...but they may believe the person who donated that gift thinks it has a value of $15...or that the person went to a lot of work making this handcrafted treasure.  Unload something handcrafted at the Yankee Swap.  Or re-gift something you got at last year's Yankee Swap.  Basically, minimize your ante in this game.

At the Yankee Swap, before it begins, you need to do a little prep work.  Talk to the other entrants and see if you can identify what their gift is and how it is wrapped...hide it some in the pile so it will  still be there when it is your turn.  Identify and avoid gifts from old ladies....these are usually handwrapped in used wrapping paper from last year...and these are the doilys and scented candles.  Avoid all envelopes...these are gift certificates from experienced Yankee Swappers lowballing at the bottom end of the range.    Go for store-wrapped gifts.  

As the Yankee Swap proceeds identify people whose gifts you may want to exchange for.  Know in advance what you want....chocolate...or alcohol, etc...    Make a mental note of these people and gifts before you go up to make your selection.   But the key is not to strive for the ultimate gift.  If you select the ultimate gift...say some Absolut Vodka in a gift box...you will only lose it by someone exchanging their crappy gift for yours...and you will end up with the doily or scented candle.  Strive for mediocrity.

Once you make your gift selection and unwrap it you need to quickly evaluate it.  Is it something you wanted?  Is it something you can give to your spouse and appear to have thoughtfully selected it yourself?   Is it the Uber-gift of the swap?  If the gift is a dud, then you need to make this decision quickly and exchange it.  Keep your appearance neutral....this gift could be from the corporate VP ...or a doily from the grandmother of the corporate VP.  If you are going to exchange it say something innocuous like, "Oh I love this doily/scented-candle...but have 2 just like it at home".  Then exchange it quickly for the gift you previously identified and coveted. 

If you happened to select something good and are going to keep it, then you need to quickly downplay its value.  Something like "Oh, this Irish Creme is not as good as the Bailey's Irish Creme that Diane has..." is really effective.  One, it downplays your gift; two, it identifies Diane as the temporary owner of the Bailey's for anyone lusting after Irish Creme.   If you selected the Uber-gift of the swap, don't get giddy and think yourself lucky.   Remember, your title to this gift is temporary until the swap is over and you will be vulnerable to exchanges.  If you have the Uber-gift, you need to exchange it for something mediocre.

Whether you keep your gift or exchange it, you will then enter a line of people who have opened their gift you are vulnerable to having their gift exchanged.  If you like your gift, keep it out of sight so people who may be evaluating gifts for exchanges can't see your gift.  Even better is to grab a decoy gift...a wreath from the table or an ornament from a tree and hold it.  Or if your gift has multiple components, put the valuable component behind you and only offer the lesser portion of your gift.   If you don't like your gift, you need to do just the opposite: display your gift, talk it up as being desirable.

The math on surviving the exchange line is as follows:  (Number of Yankee Swappers - your selection place)!  The "!" means factorial.  It is too much to explain factorial here...but the key is you want to select late to both minimize your vulnerability to exchanges and to maximize your own ability to make wise exchanges.  

I hope this essay helps you on maximize your own Yankee Swap experience.  If you have more ideas...please post them here.

I have been using LinkedIn as a networking tool with some success.  LinkedIn has helped me stay in contact with ex-coworkers as well as find (and be found) new opportunities.