As Diwali is just a fortnight away, a new study by AdvantageClub.ai, a leading global employee engagement platform, has revealed significant shifts in corporate gifting trends, underscoring that digital gifts are rapidly becoming the preferred choice over traditional options and reflect evolving workplace dynamics and generational shifts in expectations.
Covering different industries, AdvantageClub.ai has discovered a 75% rise in digital gift preference for the last three years. The reasons behind these changes were mainly driven by technology incorporation, changing demographics, and the need for flexibility in gift selection. With 72% of workplaces using digital platforms in order to give rewards and recognition, digital gifting has become a preferred trend at times of festivals like Diwali.
The report further predicts that the corporate Diwali celebrations market on digital gifts will expand even more in the next fiscal year by 30% for industries like IT, BFSI, and Pharma. These sectors have a high adoption rate of the strategies of digital gifting. The sectors of IT, BFSI, and Pharma have over 80% IT adoption rates of digital gifting strategies, over 70% for BFSI, and the pharmaceutical industry has around 50% of the people adopting such strategies. With AdvantageClub.ai, one can choose from curated e-gift cards, physical cards, or branded gifts for special festivals, streamlined through seamless API integration.
“Diwali is a time of joy, celebration, and gratitude, and it’s clear that today’s workforce values the freedom to personalize their festive experiences. Here we would like to highlight that digital gifting is not just a trend but a reflection of evolving workplace dynamics. With the AdvantageClub.ai platform, we empower companies to offer a wide range of personalized gift choices through a seamless digital experience. This shift not only enhances the festive spirit but also contributes to a more engaged and satisfied workforce, ultimately fostering a positive culture that values individuality and inclusion.” said Sourabh Deorah, Co-founder & CEO of AdvantageClub.ai.
AdvantageClub.ai has also highlighted the positive impact of digital gifting on employee satisfaction. Organizations that adopted digital gifting strategies reported an 82% increase in employee satisfaction scores, showcasing the importance of offering flexibility and choice in rewards. Additionally, companies implementing digital gifting strategies have seen a 20% reduction in overall gifting costs, indicating that the shift is beneficial for employees and economically advantageous for employers. For example, AdvantageClub.ai wallet points offer non-expiring points for over 10,000 brands, allowing flexible options, eliminating delivery costs, and streamlining HR processes.
To motivate employees and strengthen team bonds, one can go beyond traditional gifts with unforgettable and customized experiences like scuba diving and skydiving using AdvantageClub.ai. Generational shifts have driven a preference for digital choices, with 88% of millennials and Gen Z employees favoring personalized gifting options over pre-selected items.
According to a study by Technopak, this shift aligns with the growing corporate gifting market in India, estimated at Rs. 12,000 crore and expanding by over 200% annually. Digital gifting offers an opportunity for companies to make their workplaces more engaging and even more flexible. Its outcomes result in a positive culture, which means enhanced celebrations of festivals while contributing to long-term employee engagement and retention.
About AdvantageClub.ai
AdvantageClub.ai is a global AI-powered employee engagement and rewards platform with offerings like rewards & recognition, flexible benefits, wellness, surveys, moments that matter, and communities on a single platform. It provides end-to-end solutions to facilitate employee engagement by digitizing the company’s R&R policies, allowing them to drive better employee retention and happiness. AdvantageClub.ai has over 5 million users, a presence in over 100+ countries, 1000+ clients, and 10,000+ brand options. Established in 2016, AdvantageClub.ai is a brainchild of UCLA postgraduates Sourabh Deorah and Smiti Bhatt Deorah, who identified employee engagement as a space to create disruption using AI, data mining, and analytics.
Headquartered in San Francisco, AdvantageClub.ai has an impressive client portfolio featuring BCG, Biocon, Concentrix, EY, HCL, Hexaware, Tech Mahindra, Teleperformance, Tata Steel and many more.
