Corporates turn creative, line up BMW bikes, iPads for Diwali gifts

Gifting has gone hybrid this year, where organisations are empowering end beneficiaries to select from digital and physical options. (Representational image: Kari Shea via Unsplash)

The pandemic not only had an impact on the working mode of employees but also on how corporate houses celebrate festivities. It seems the voices of employees have reached decision makers. Hence, soan papdi is no more the only gift they get during Diwali.

Gifting has gone hybrid this year, where organisations are empowering end beneficiaries to select from digital and physical options. Eighty percent of HR tech firm Advantage Club’s corporate partners are using a ‘flex-gifting’ approach, where employees can choose between digital gift cards, products, or memberships.

“Besides traditional sweets, digital gifts (vouchers and cards) are the most popular, followed by electronics, wellness options, and home utilities,” Sourabh Deorah, Co-founder and CEO, Advantage Club, told Moneycontrol.

Traditionally, the pharma and FMCG sectors have been the most active in corporate giftings. However, this year, Advantage Club is also seeing clients in the financial services and real-estate sectors showing increased activity, especially in engaging their channel partners.

But the change in approach is not just limited to digitisation. Companies across sectors are getting creative with their Diwali gifts.

Biz2Credit, an online financing platform for small businesses, has moved beyond the traditional gifting options this year. The company has given BMW bikes to outstanding performers and iPads to emerging superstars.

In addition, the company has announced that the top performers – over 60 percent of employees – will get up to 40 times their performance-linked incentives (PLIs), cash rewards, silver coins, etc., as part of the Diwali gift.

“Biz2Credit’s theme for this festive season is very clear as the company wants to get their employees together as everybody has been working from home for a long time now,” says Rohit Arora, CEO and Co-Founder, Biz2X & Biz2Credit.

FMCG startup Good Glamm Group has planned an engagement calendar this festive season for its employees, the centre of which is the launch of ‘G3 Ke Bigg Boss’. The activity features fun competitions with cross-functional teams, with prizes to be won every week. These prizes include special family dinners at renowned hotels, trips to exciting destinations, music speakers, and mobile phones, among other things.

The grand prize at the end of this activity would be a chance to visit the ‘Bigg Boss’ house and meet the contestants along with MyGlamm brand ambassador Shraddha Kapoor.

“Though the initiative starts from Diwali, it goes up to the year-end, covering the complete festive season. This is followed by a Christmas-New Year break. We have curated exciting activities and rewards for all our employees and hope to go bigger in the years to come,” says Kartik Rao, Group Chief People Officer, Good Glamm Group.

Corporate spending on gift vouchers has seen a 20 percent rise in spending, YoY, and it is expected to grow from a $5 billion market in 2022 to around $8 billion in 2025, as per digital rewards firm Accentiv’ India.

“Digital gift cards are a large part of this growth and are expected to make up 60 percent of the overall corporate gift card market in 2025,” says Mayank Chawla, COO, Accentiv’ India.

Like many others, iThink Logistics also chose to give a digital gift card rather than a physical gift card to its employees. But it had a different goal.

“We don't want to support or increase plastic consumption,” says Zaiba Sarang, Co-Founder, iThink Logistics. The company has also rolled out other initiatives starting from October 14 to October 19. They include ‘Lights Off’, ‘Go Green- Wear, Eat & Live Green’, and ‘Public Transportation Day’, etc., to save energy and reduce carbon footprints.

Making equality centre stage, EV manufacturing firm Eko Tejas got anchoring done by the daughters of the employees at its in-house Diwali events.

“In a vision to promote equality, they will be respectfully asking their drivers, peons, gardeners and watchmen to come up to the stage and to say a few words. Let the entire organisation see them, appreciate them, and honour them,” says Shriyal Thakrey, Marketing Director, Eko Tejas.