This festive season, corporate gifting for employees goes digital

Every Diwali, your company gives you a box full of dry fruits and two glass bowls. Chances are you either give them away to someone else or don’t even bother taking them home. It lies there for a few months post which probably they get spoilt and you are required to dispose them. Not anymore. There are high chances that your firm may give you a gift card to buy stuff that you really need.

Moving away from cash incentives and physical gifts, more number of companies are now turning to digital gifting options including online coupons and gift cards. Not only is this effective from a roll-out perspective, it also gives a choice to employees to use it to purchase goods that they require.

Bhavik Vasa, Chief Growth Officer, ItzCash said that what started off from paper-based gift vouchers has now moved to open-loop gift cards. “For instance, we have the RuPay open loop gift cards that will help employees to buy products from a range of stores. What we are seeing is that while we offer branded gift card of single brands, there is a far quicker adoption of open-loop gift cards,” he added.

In terms of the companies, Vasa said that while several large corporates have already embraced this transition, there is also a rise in demand from the MSME sector. “The idea is to give a gift that is gratifying. Corporates have realised that this is a better way of disbursement and employees have also started accepting it,” said Vasa.