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With the recession forcing most corporates to fish out of their reserves for operating costs, what will this mean for employees who are used to being pampered with expensive corporate gifts during the festive season?
Hi Sambhavan,
This is a dilemma we are facing in our organization too. We are a 100+ company with more than 50 customers across the country and half the number of vendors. We do not give any gifts during festive season round the year, instead focus on giving an expensive gift every Dec/Jan. Usually we combine this corporate gifting event with giving away awards for best performing employees, vendors and top customers.
However, the recent downward economic trend has affected all of us and our employees have already flooded us with questions regarding their annual gift! I am also looking forward to hear some good ideas here which can be implemented in our organization as well!
This is a dilemma we are facing in our organization too. We are a 100+ company with more than 50 customers across the country and half the number of vendors. We do not give any gifts during festive season round the year, instead focus on giving an expensive gift every Dec/Jan. Usually we combine this corporate gifting event with giving away awards for best performing employees, vendors and top customers.
However, the recent downward economic trend has affected all of us and our employees have already flooded us with questions regarding their annual gift! I am also looking forward to hear some good ideas here which can be implemented in our organization as well!
THE GLOBAL recession and the consequent slowdown of the economy in the country promise a lacklustre Diwali for the real estate industry this year. To counter the downturn, builders are now in the process of offering discounts to lure prospective buyers.
Orbit Corporation Limited has announced a discount of 15 per cent at a residential project in Lower Parel and others are expected to follow suit. There still remain builders who are holding on to their prices in the hope that Diwali, considered an auspicious time by buyers to purchase flats, will revive the sagging market.
"We just hope that Diwali brings us some relief as we have suffered enough in the last four months," said Anand Gupta, secretary, Builders Association of India. "If things do not improve we will be seeing lot of distress sales and massive price cuts.
Well coming to the point of employees who are used to being pampered with expensive corporate gifts during the festive season will still get a corporate gift but not an expensive one .The company would have planned the gifting programme keeping a tight budget in mind .
:icon10:
Orbit Corporation Limited has announced a discount of 15 per cent at a residential project in Lower Parel and others are expected to follow suit. There still remain builders who are holding on to their prices in the hope that Diwali, considered an auspicious time by buyers to purchase flats, will revive the sagging market.
"We just hope that Diwali brings us some relief as we have suffered enough in the last four months," said Anand Gupta, secretary, Builders Association of India. "If things do not improve we will be seeing lot of distress sales and massive price cuts.
Well coming to the point of employees who are used to being pampered with expensive corporate gifts during the festive season will still get a corporate gift but not an expensive one .The company would have planned the gifting programme keeping a tight budget in mind .
:icon10:
Diwali is an important season for players in consumer durables and automobiles because this is when sales graphs swing upwards. This is also when these companies come up with a slew of discount offers and promotional schemes.
However, the economic slowdown and current instability in the market have caused a dip in consumer sentiment. Will the consumers' mood affect the business for consumer durables this festive season? afaqs! spoke to a few brand owners on how are they dealing with situation.
Most brand owners claim that the slowdown has not affected them. However, there have been changes in their communication and promotional plans.</SPAN>
But this can be controlled and managed by gifting only the important and higherlevel people and for rest can cut down their budget and gift them something unique in the less budget so that everything can be managed
:icon6:
However, the economic slowdown and current instability in the market have caused a dip in consumer sentiment. Will the consumers' mood affect the business for consumer durables this festive season? afaqs! spoke to a few brand owners on how are they dealing with situation.
Most brand owners claim that the slowdown has not affected them. However, there have been changes in their communication and promotional plans.</SPAN>
But this can be controlled and managed by gifting only the important and higherlevel people and for rest can cut down their budget and gift them something unique in the less budget so that everything can be managed
:icon6:
Recession has definitely taken a toll on all of us. Everyone is cutting corners to cover bare skin. In a situation like this we can look at cost effective and innovative ideas. Do an up sell of your company by sending... maybe printed mugs or calendars or wallets with the name of the company printed on it. For the high profile clients, Ipods with name of the company printed on the back cover would be good. Classy and arguably classy.
It again depends, during these times if you are used to taking employees on extravagant off sites coupled with expensive gifts twice a year, striking a balance would be the key. A one time gift which really gratifies employees would eliminate the need for gifts all year long.
Hi, recession is already here and the gift bags this Xmas and new year are going to be a lot slimmer. The fact is that as a company struggles to maintain its current workforce, the employees should realize that they may have to 'do their bit' to help the company along. This will mean a reduced pay package, cheap gifts or none at all and a loss of certain perks/benefits. Bottom:-D line, just be glad that you still have a job to go to.
Yes, gifting a music gadget like the Pod will definitely invite a lot of appreciation as it is a quality product and is extremely easy to use. The navigation wheel, which is a pretty ground breaking idea by the way, has really made a mark in everybodys mind.
Hi there, I do agree that every one needs motivation if they are to do better which is why some companies have decided to trim pays and instead of making it out as a flat sum, some of the corporates have decided to go for the 'performance based' pay. What this means for the company is that they do not shell out for any gifts and instead by making the pay performance based, each and every employee would have the necessary motivation to do better. As to its effectiveness, well, we will have to wait for the results to come in, as it was recently initiated.:icon10:
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#Listed In: performance based pay Country-India corporate gifts corporate gifting pay package economic slowdown innovative ideas corporate gift real estate consumer durables City-India-Bangalore
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