Bigger & better: This Diwali, India Inc adds health and time to gifting

Additional day off, wellness products, sweets prepared touch-free - corporate gifts gets an innovative edge

What could be a bigger gift than time – at a time when some 20-odd months have slipped by in a blur? “We now value time spent with family and friends much more than earlier,” says Pavitra Singh, chief human resources officer, PepsiCo India. So, time is precisely what the company has decided to gift its employees in the form of an additional day off, “to rejuvenate, relax and celebrate Diwali with family and friends”. This is apart from a virtual carnival it is organising and the eco-friendly, sustainable gifts it is distributing among its staff.

After an austere 2020, corporate gifting has picked up dramatically for India Inc this festive season. And besides a bigger budget, companies are putting in more thought – even heart – into what they are gifting. There is a renewed focus on employee well-being and turn to gifts symbolising a shift in work culture and lifestyle post-Covid.

With work from home becoming the norm, companies have also helped employees set up workstations. In the lead up to the festive season, a telecom multinational gave away air-conditioners, chairs and tables to its employees, says Nanda Kumar, CEO of Bengaluru-based corporate gifting company Regalos.

“During the festive season, a cash-rich company would earlier spend Rs 1,000-1,500 per employee on conventional sweet boxes and dry fruits. Now, budgets have gone up to Rs 3,000-4,000 as they want to cover all aspects — be it wellness or utility,” he adds.

This approach is evident across sectors.

Hyundai Motor India is trying its best to ensure employees feel proud and rewarded in a year that has tested their mettle, says Charles Walter, senior general manager and group head, HR. For the festive season, it has offered added health benefits to employees and their dependents, customised gift cards, sweets manufactured in an automated touch-free method, and chocolate boxes.

Mayank Kumar, co-founder and MD, upGrad, says that steps to celebrate the festive season and keep employees motivated include engagement sessions, stand-up comedy episodes or virtual <garba> nights, apart from physical gifts. “Owing to the overall brand growth, we have not just increased our corporate gifting budgets this year but also personalised them to suit the festive mood. The specially curated gift hampers for our employees (there are over 3,500 in India and abroad) and their families fall within the price range of Rs 2,000 to Rs 2,500 each,” he adds. “The gift boxes this year include an ultrasonic humidifier oil aroma diffuser that comes with a bottle of essential oil, a personalised note from the co-founders to each employee, diyas and assorted premium confectioneries.”

When it comes to sweets, this season is proving to be an exciting time for chocolate brands.

Nitin L Chordia, co-founder of chocolate maker Kocoatrait, says that in a post-Covid scenario, chocolates have become a preferred alternative to <mithai>, both for corporate and personal gifting. Kocoatrait has received orders from across India to deliver zero-contact, sustainable gifts that include its bean-to-bar chocolates housed in colourful handmade palm leaf boxes. Its corporate gifts start from Rs 985 and go up to Rs 3,340.

Affirming that corporate gifting has seen a revival since last year, with greater certainty of business and companies going all out to retain employees, Chordia says, “Traditional gifts are actively being replaced by newer products and ‘experiences’ like speciality tea, western sweets, eco-friendly gifts and vouchers.” This shift, he adds, is not seen in sectors like manufacturing but features most prominently in IT services.

The organised corporate gifting segment in India is estimated at Rs 12,000 crore, according to consulting firm Technopak. Kumar of Regalos reckons that it is set to grow rapidly after a blip in 2020. Regalos, for instance, has a portfolio of 4,000-odd unique products, and would typically witness a turnover of Rs 40-50 lakh in a pre-Covid season. This year, it has already crossed Rs 1.5 crore.

Kumar adds that currently there are 3-4 million gift packages -- a mix of ecommerce and corporate – going out from a city like Bengaluru every day. It is similar to the Flipkart or Amazon festive sale days when there is a big spike in buyers. “Corporate gifting has become another vertical for all the logistics partners,” he adds.

While gold coins remain a top pick in luxury gifting options, especially for Diwali, some new-age companies are opting for tech. A gaming company, for instance, chose to gift an iPad Pro. “The pandemic has cut down a lot of overhead expenses for companies, and they have a healthy budget to spend,” says Kumar.

Some of the most innovative, new, non-premium products that have become popular this year are laptop cooling pad, lap buddy and modified luggage — evolving from backpacks to anti-theft and convertible bags or smart bags with attached USB ports.

“A lot of innovation has also gone into customisation and packaging,” says Kumar. “Today, boxes go with the brand ethos. Print and packaging has gone up 10x compared to last year.”

As companies look for unique options and loosen purse strings, employees and suppliers clearly have much to look forward to this Diwali.