Global Holiday Gift Practices Highlight Employee Loyalty and Gift Pitfalls
Translated & summarized from Calcalist by baba
Indian billionaire Savji Dholakia secures employee loyalty with extravagant Diwali gifts, while global surveys reveal many unwanted holiday gifts cause dissatisfaction. In Germany and the U.S., bonuses and unique company events are common, and Israel faces challenges with unused gift vouchers. Research shows timely gifting impacts employee attendance and morale significantly.
The story in 6 lines · by baba
- Indian billionaire Savji Dholakia gifts employees apartments and cars to ensure loyalty.
- A CBS report cites hygiene product packs as the worst Christmas gifts causing resignations.
- In Germany, 86% of unionized workers receive substantial Christmas bonuses averaging 2,987 euros.
- Ken Griffin hosted 10,000 employees at Disney World with luxury accommodations and a Coldplay concert.
- Israel’s Bank of Israel found 670 million shekels in unused gift vouchers, prompting new redemption rules.
- Research shows delayed birthday gifts increase absenteeism by 50%, while timely gifts improve attendance.
Indian diamond billionaire Savji Dholakia is known for distributing lavish Diwali gifts to his employees, including apartments, cars, and diamond jewelry sets, to secure their loyalty. His record year was 2016, when he gifted 1,260 cars and 400 apartments, with payment plans ensuring continued allegiance.
In contrast, a CBS report highlighted some of the worst Christmas gifts, such as hygiene product packs that led to mass resignations among female staff. A 2019 American survey by gift platform Snappy found that 84% of employees received unwanted gifts, with 90% feigning gratitude. In Germany, Christmas bonuses are more common and substantial, with 86% of unionized workers receiving an average gross bonus of 2,987 euros in 2024.
Ken Griffin, founder of hedge fund Citadel, hosted about 10,000 employees and their families from global offices for a three-day luxury weekend at Disney World in Orlando, Florida, featuring gourmet meals and a private Coldplay concert, celebrating the company’s birthday near Christmas.
Israel’s Bank of Israel estimated in 2022 that unused gift vouchers held by the public totaled 670 million shekels, prompting legislation requiring companies to remind voucher holders annually to redeem them. In India, gifting traditional sweet boxes often leads to rapid regifting due to perishability, while in China, branded mooncake gift sets filled with porcelain tea sets or electronics are preferred and can be redeemed digitally for cash.
Snappy’s survey also identified poor gifts like sports league subscriptions for executives’ children, survival kits with artery blockers, and heavy potato sacks. Anonymous gift exchanges in the U.S. sometimes yield bizarre presents like coconut bras or mismatched gloves. Research from Tel Aviv and Philadelphia universities found that even slight delays in birthday gifts increased employee absenteeism by 50% and reduced work hours, especially among managers, while timely gift vouchers restored normal work patterns.
In India, Diwali gifts are serious business: in 2011, 366,000 Coal India workers struck over Diwali bonus amounts, ending after a 4,000-rupee increase (about 125 shekels).