Pic: Ojo Images/IndiaPicture

Expecting a box of sweets yet again from your employer this Diwali? Today, the evolving corporate India hopes to reward its employees with gifts, which they will not only appreciate, but also be able to utilise.

As Diwali approaches, every employee is usually looking forward to the ‘Diwali bonus' coming his/her way. But in today's evolving corporate scenario, is a bonus and box of sweets enough to mark the occasion? Corporates today are realising this may not necessarily achieve the purpose; instead, they are opting to give away gifts that will help sever a larger purpose - India Inc has very expediently taken to the idea of gifts; they are personal, make an employee feel valued and there's no going wrong with giving away free stuff.

So, what are the India Inc employers gifting their employees this Diwali? Jyoti Rai, head – HR, India, American Express says, "Gifting is an integral element, especially during Diwali; it is vital that employers understand that different employees have different needs/preferences; thus making giving away gifts that suit each employee's tastes difficult. From a corporate gifting/reward and recognition point of view, while merchandise is popular, non-traditional options such as gift vouchers and cards are acquiring scale in India. There is a clear desire from corporations to offer their employees gifts, which give them choice. To address this, American Express has introduced a unique concept of prepaid gift cards for corporations in India. It is as an efficient and an convenient tool to reward and recognise employees as well as offer compliments of the season."

While gifting employees a paid voucher, thus facilitating them to purchase what they wish is one effective approach, other companies arrange a voting system to help employees choose which gift is best suited for them from a list of available options. "Employee gifts are not only linked to festive occasions, but also based on constant appreciation that organisations run through their rewards and recognition programmes. Since gifts are preferred over cash, as they are memorable and touch a personal chord. As a practice, we prefer to use online employee voting, so that Comvivians are empowered to choose what suits them most. Being a part of the decision increases morale, sense of ownership and positive ‘buzz' around the choice," says Sandyp Bhattacharya, VP, Human Resources, Comviva. Corporates today are trying innovative ways to present their employees with gifts, which they will not only appreciate, but also be able to utilise and are probably commodities they wish to acquire. Vikramjit Sahay, marketing director, benefitsPLUS says, "During Diwali, a lot of companies purchase bulk gifts for their employees under a certain budget. But these gifts don't appeal to all; different employees with different personalities and needs look to purchase different products during the festive season. Some might choose to procure something for their home, some look to buy electronics or the others may choose apparel. Companies today are facilitating their employees to shop online by allocating their gift budget to various e-commerce websites in the name of the employee, which gets converted to an e-budget, thus contributing the company's share of gift money to whatever it is that the employee wishes to purchase."

Thus, as a valuable employee of the fast-paced corporate world, expect your company to contribute its share of Diwali gift money to the expensive new phone you were looking to purchase! And even if it doesn't, appreciate what you receive as gifting, in any case, is a gesture of appreciation.

India Inc's top gifting options

Cash/credit voucher or gift card: There is no going wrong with a cash voucher or paid gift card since an individual can use it to purchase whatever he/she pleases;

Paid-day off: Give your employees a coupon for a paid day-off, redeemable with a week's notice;

Spa/restaurant vouchers: Give employees gift certificates for local restaurants, spas or office supply stores. 

A paid holiday: Give your employees an extra two days of paid, mandatory vacation for the holidays.

- Arshie Chevalwala