That’s one cool boss to have! Surat businessman gifts employees car, house as Diwali bonus!
Many businesses, large and small, have a huge source of great ideas that can help them improve, innovate, and grow, and yet so many of these companies never think of using this amazing corporate asset. What is this highly valuable asset? Its own people.
Every year, Savjibhai Dholakia gives #DiwaliBonusGoals to people across India. Much like previous years, the Surat-based businessman is gifting cars and houses to his employees yet again as Diwali bonus. According to reports, this year the owner of Hare Krishna Exporters has chosen 1,665 people, based on their annual performance.
Last year, Dholakia had reportedly given Fiat Punto cars, flats and gold jewellery to chosen employees for Diwali as well. The diamond merchant has been making headlines almost every year for his generous gifts to his company workers, which would pretty much put him towards the top of the list of employers one would want to work for.
According to a NewsX report, Hare Krishna Exporters posts an annual turnover of Rs 6,000 crore and employs around 5,500 people. Of those chosen, 400 employees will be given houses and the company will make the down-payment, along with an EMI of Rs 5,000 for five years. As many as 1,260 cars were reportedly given away and 56 were given jewellery boxes. An India Today report says that those chosen this year did not avail the the bonus last year when the company had given 491 cars, 200 houses and jewellery boxes to 1,716 of their colleagues.
Though the number of beneficiaries seems have have slightly fallen this year, the fact that the bonus is being meted out is definitely a healthy sign. A 2014 Indian Express report states that 1,200 employees were given handsome bonuses that year (Fiat Punto cars were given to 496 of them, two bedroom flats to 207 workers, and diamond studded gold jewellery to 570 workers). In 2013, Dholakia had given Chevrolet Beat cars to 72 of 100 employees who had met targets, just before Christmas, while the rest were given cash above Rs 3 lakh to pay up their home loans. Many of those who got cars, did not even know how to drive.
Talking to the Indian Express, Dholakia, who is fondly called ‘kaka’ in his firm, had said, “We don’t treat diamond polishers as employees but as family members as they hail from the same area from where we belong. We have given them gift as per their performance in the company. This will help to build competition among the diamond workers in our company and many workers will be motivated by this and they will also fix a target and will achieve it in next year. By such competition the quality of the work in our company will be improved.”
Growth through innovation/creativity:
Rather than be constrained by ideas for new products, services and new markets coming from just a few people, a Thinking Corporation can tap into the employees.
The corporation will experience an increase in profits due to savings in operating costs as well as sales from new products, services and ventures.
Higher business values:
The link between profits and business value means that the moment a corporation creates a new sustainable level of profit, the business value is adjusted accordingly.
Lower staff turnover:
This, combined with the culture that must exist for innovation and creativity to flourish, means that new employees will be attracted to the organization.