With its rich tapestry of culture, traditions, and festivals, has always celebrated its festivals with great zeal and enthusiasm. Among the various traditions, festive giving holds a special place in the hearts of millions, seen as a gesture of goodwill.
“Festivals in India are not just about celebrations but also about forging deeper connections. When employers align their festive offerings with employee expectations, it not only fulfills a cultural tradition but can also foster a sense of belonging, loyalty, and recognition among the workforce,” says Mayur Mundada, Founder and Business Head, AmbitionBox. "Our survey merely reflects the sentiments and expectations of employees and can help employers to understand what employees expect. Employers can use such festive benefits to drive employee satisfaction.”
Key findings
Reality Check: Although it’s commonly assumed that corporate gift-giving during Diwali is standard practice, 43% of the survey participants acknowledge that they haven’t received any festive perks. This highlights a noticeable disparity between what people expect and what actually occurs.
High Expectations: A notable 66% of respondents expect special benefits or bonuses from their employers during the festive season, highlighting the cultural importance and anticipations tied to festivities in India. This disparity has the potential to decrease morale and satisfaction levels among employees.
Expectation vs. Reality: Out of the employees who receive festive benefits currently, merely 29% are satisfied with these perks, hinting at a potential area of improvement for employers.
Cash rules: Cash bonuses are clearly in demand, preferred by 66%. Other preferred benefits include Gift cards (30%), Electronics and Gadgets (27%), Customized gifts (24%), Destination holidays (21%), and Experiences like spas (12%). Understanding such preferences can aid employers in tailoring their festive offerings for maximum employee engagement.
The Ripple Effect of Festive Benefits: Beyond immediate joy, 63% believe such perks enhance motivation and engagement, while 39% believe they foster a stronger sense of loyalty. For 75% of respondents, the presence or absence of festive benefits matters when it comes to employee satisfaction.
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