Employees expect cash and gift coupons as favorite for Diwali bonus says ASSOCHAM study

News Bharati English    25-Oct-2016

New Delhi, October 25: An online survey was conducted by ASSOCHAM to judge full-time office workers opinion and human resource professionals on Diwali festival bonuses given by companies and their desired gifts. The survey revealed that while a box of traditional sweets is the least desirable gift for office workers, cash and gift coupons/vouchers, prepaid cards are most desired this Diwali festival.
According to the ASSOCHAM survey 45 per cent of office workers wanted cash or gift coupons/vouchers, 35 per cent wanted gadgets/electronic item/home appliances/utensils and other such things for personal use or for use in their households, 15 per cent gift-boxes of sweets or cookies and the remaining preferred various other things.

“Most of the companies in private sector have gradually moved away from a fixed Diwali bonus and instead provide benefits considering employees’ individual performance for past few years, so hardly any change is expected on this front,” said D.S. Rawat, secretary general of ASSOCHAM.

The HR professionals opined that non-financial rewards have a greater and longer-lasting effect on employee as compared to that of cash rewards. Employees who consistently perform better deserve tangible appreciation. Further elaborating on this aspect, many said their companies adhere to the policy of meritocracy and would reward only the best staff thereby making it performance-based and not across the board.

 “Though companies are not getting very generous, but considering that Diwali being one of India’s widely celebrated annual festival, corporate gifting has become a tradition to express gratitude, appreciation, develop relationships and generate goodwill amid peers and employees,” Rawat further added.

Gift hampers including assorted chocolates, imported liquor, genuine leather bags and even personalized gifts like gym/club membership to their deserving employees and clients is likely to be given this year by Companies.

Crockery, sweets, dry fruits, bed sheets, gold coins, home décor, tableware, luxury watches, designer apparel, expensive writing instruments, free holiday packages, movie tickets, dinner coupons, spa vouchers and hampers with a mix of festive essentials like torans, diyas, aromatic candles remain certain other popular gift options this year too.

The survey was conducted among 1,000 full-time office workers and 500 human resource professionals between October 1 - October 15 in 10 cities of - Ahmedabad, Bengaluru, Chennai, Delhi-NCR, Hyderabad, Indore, Jaipur, Kolkata, Lucknow, and Mumbai.