Culturally, gifting is an essential act of gratitude and appreciation. Nowadays, even businesses are utilizing it to build stronger and lasting relationships with their employees. They do this through a program dubbed employee gifting. A subset of corporate gifting, it represents employers thanking their workforce for the contributions they made towards driving growth. Although employee gifting has been around for some time, companies still struggle with finding the right gifts. In such a scenario, e-gift vouchers in India are providing employers with an innovative alternative.
Traditionally, employee gifting comprised physical gifts like mementos, branded merchandise, or cash envelopes. However, these seem impersonal and fail to add a personal touch that is necessary to create a lasting bond with the employees. And now the growing significance of e-commerce and digital wallets has brought e-gift vouchers in India into the spotlight.
e-gift vouchers, also known as gift cards, provide several benefits to both employers and employees, revolutionizing employee gifting in India.
Significance of eGift vouchers in India
Employee gifting motivates employees to improve their productivity and drive business growth, while also creating a positive workplace vibe. However, it must be done right. For this, you can use e-gift voucher. Below we discuss how it adds value to both the parties involved in gifting.
Benefits for Employers:
Convenience of Sourcing: e-gift vouchers can be purchased and delivered electronically, eliminating the need for physical procurement, storage, and distribution. This saves time, resources, and administrative hassles for HR departments.
Multiple Options to Select From: E-gift vouchers in India offer a wider variety of choices compared to pre-selected physical gifts. Employees can choose from a vast selection of brands and categories, catering to diverse preferences.
Cost-Effective Gifting Option: E-gift vouchers can be more cost-effective as compared to other conventional gifts. They often come with bulk discounts and eliminate logistical costs associated with physical gifts. Additionally, some platforms offer customizable spending limits, allowing employers to manage their gifting budgets efficiently.
Option to Track Usage: Many e-gift vouchers in India come with platforms that provide real-time tracking and reporting features. Employers can monitor voucher usage and gain insights into employee preferences, informing future gifting decisions.
Reduced Risk of Fraud: Unlike cash, e-gift vouchers come with added security features, minimizing the risk of loss or misuse.
Benefits for Employees
Freedom to Purchase Desired Gift: Employees appreciate the freedom to choose gifts they truly desire. E-gift vouchers empower them to select items that suit their interests and needs.
Enhanced Value of Employee Gifting: The wider selection and flexibility offered by e-gift vouchers can be perceived as more valuable by employees compared to generic physical gifts. This can lead to a greater sense of appreciation and recognition.
Option to Redeem it On-demand: E-gift vouchers in India can be redeemed instantly, allowing employees to enjoy their gifts right away. This enhances the gratification and excitement associated with receiving a gift.
Environmental Friendly Gifting Option: Eliminating physical gifts and associated packaging reduces the environmental impact of employee gifting programs. This can resonate with environmentally conscious employees.
Growing Significance of e-gift voucher market in India
The Indian e-gift voucher market is witnessing significant growth, owing to increased internet penetration, growing smartphone usage, and the normalization of digital wallets. These factors have made e-gift vouchers in India more than a trend with businesses turning to them for employee gifting.
Use Cases for e-gift vouchers in India:
- E-gift vouchers make for a popular gifting option when celebrating festive events like Diwali, Eid, or Christmas, as employees can use them to purchase items that are relevant to the event.
- Companies can use e-gift vouchers in India to mark the importance of employee milestones like work anniversaries, promotions, or achieving performance goals.
- E-Gift vouchers make for great rewards to recognize employees for their contributions. Employees can use the vouchers to get a gift that represents what the achievement means to them.
- You can welcome new employees with e-gift vouchers in India as it can translate your company’s focus on openness and individuality.
Take e-gift vouchers to the next level with Zaggle Edge
With the growing significance of e-gift vouchers, companies have a range of options to select from. However, picking just about any option may fail to give you the desired results. To help companies maximize employee gifting, Zaggle designed the Edge prepaid gifting cards program offering reusable vouchers. It is a digital gift card solution that companies can tailor to suit their employee gifting program. Zaggle Edge offers seven types of e-gift vouchers in India:
- Kuber Gift Card to be used across over 7 lakh merchants and stores.
- Zinger GPR Card for gift purchases at online and offline stores.
- Zinger Multi Wallet Card for end-to-end corporate payment solution.
- Wave Gift Card for purchases related to apparel, electronics, jewelry, and other categories.
- Wheels Gift Card to get gifts in the automobiles category.
- Petro Gift Card is designed for fuel purchases at fuel stations.
- Kohinoor Gift Card, a non-reloadable card, for jewelry purchases.