ADDING A PERSONAL TOUCH FOR EMPLOYEES
The last quarter of the calendar year marks the most important aspect of our lives – festivals. Almost the entire world is in the celebratory mood. The Human Resource department of companies sees festivals as opportunities to engage employees in a proactive and incremental way.
The job industry has experienced significant changes driven by globalization and the expectations of today’s workforce. Employees are an important part of the company. Their professional contribution helps in achieving the company’s growth and development.
With changes in organizational trends over the years, companies are adapting strategies to build a personal connection with its employees. According to a survey by Business Standard, companies are turning to give out non-cash incentives to its employees for the festive days.
Corporates are looking at other incentives like celebratory leaves, coupons and other forms of gifting. Corporate gifting takes a step forward than just rewarding the employee, often offering gift vouchers for the family and friends.
“It helps in building value and emotional connect with the employee”, said Sunil Goel, Director of Global Hunt. Human resource officials say that employees expect a more personal touch which goes way beyond cash incentives. While varied in nature and form, behavioural studies reveal that festive gifts and incentives lead to positive spikes in an employee’s engagement and motivation levels amongst the employees.
Research shows that more and more corporates are now considering replacing cash during festivals with other non-cash incentives. Instead of a set amount of cash, a lot of corporates are using innovative gifting solutions like loyalty points to help them get discounts on products or services of their choice.
Increasingly, cash component is being substituted by non-cash incentives. “The perceived value for non-cash incentives is higher among employees”, said a senior Vice President at a staffing company. Corporate gifts are one way of building a smooth and strong relationship with the company and its employees.
A personal touch to the corporate gifts, during the festive days, adds an additional value for the employee. It is a way of showing appreciation for their hard work and loyalty towards the company. It keeps the employees fresh and focused on their work, encourages and entices them to contribute in more ways than one to the company. It makes them happy, enthusiastic and boosts their morale.