What Do Indian Employees Crave for Diwali? Cash Bonuses, Says Survey
As the festive season of Diwali approaches, there’s a buzz in the air, and it’s not just about the fireworks. Corporate employees across India are eagerly anticipating the traditional festive generosity from their employers. Yet, a recent survey by AmbitionBox reveals a surprising fact: a whopping 43% of India Inc employees are left out in the cold with no festive benefits from their employers.
The Expectation of Festive Bonuses in Corporate India
AmbitionBox, known for its insightful company reviews and salary data, conducted a survey with over 2,100 participants. The findings are quite telling: 66% of employees expect festive benefits or bonuses during Diwali. However, the reality is that nearly half of the respondents have not received any festive perks, highlighting a significant gap between expectations and reality.
The Disparity in Diwali Corporate Gifting
When it comes to Diwali gifts, there’s a vast range of what employees might receive. Some companies stick to traditional sweets like mithai or dry fruits, while others opt for modern alternatives like gift cards. Then there are the MNCs that pull out all the stops, offering high-end gadgets to their workforce. Occasionally, we hear tales of extraordinary generosity, such as the tea estate owner from Tamil Nadu who gifted bikes and LCD TVs to his employees. Nevertheless, the survey indicates a clear winner in the hearts of employees: cash bonuses.
The Most Coveted Diwali Gifts According to Employees
When asked about their preferred Diwali gift, a majority of the surveyed employees, precisely 66%, expressed a desire for cash bonuses. Other popular choices included gift cards (30%), electronics and gadgets (27%), customized gifts (24%), destination holidays (21%), and experiences like spa visits (12%).
The Impact of Diwali Gifts on Employee Morale
Diwali gifting by companies isn’t just about the gifts themselves. For 63% of employees, these perks are a significant morale booster, enhancing motivation and engagement. Moreover, 39% feel that such gestures foster a stronger sense of loyalty towards their employer. A staggering 75% of respondents believe that the presence or absence of festive benefits plays a crucial role in overall employee satisfaction.
Demographics of the Survey Participants
The survey by AmbitionBox wasn’t limited to a single sector; it spanned across various industries including BPO, IT services, and financial services. The age distribution of respondents was also diverse, with 54% falling between the ages of 25-34 years and 25% within the 35-44 years age bracket.
Conclusion
As companies light up their offices with Diwali decorations, it’s clear that employees have their sights set on something more tangible: a nice, fat bonus check. While gift cards and gadgets are appreciated, nothing says ‘Happy Diwali’ quite like some extra cash in the wallet. So, corporate India, take note: if you want to keep your employees happy and loyal, it might be time to rethink those Diwali gifting policies.
And for those who love staying on top of business News, stock market trends, and personal finance tips, remember to check out Moneycontrol or download their app for the latest Updates. It’s the perfect way to stay informed, especially if you’re planning how to spend that Diwali bonus!
