Expensive gifts and pricey rewards are being showered on top performers. Be it Mercedes-Benz luxury cars and all expenses paid holidays to foreign destinations, smartphones, jewellery and flats, these are token of appreciation being offered in recognition of top performing employees in companies such as HCL Tech, Infosys and or home grown bigwigs like Hari Krishna Exports in Surat.
IT major HCL Tech has instituted a ‘CEO Club’ to recognize those employees of the company who contributed significantly to the success. In 2013 those chosen by the CEO Club were offered Mercedes-Benz cars as rewards. This time round the company is presenting upward of 100 of their high performing staff with Mercedes-Benz cars. Bonus alternative is an all expenses paid overseas holiday.
Infosys presented 30,000 of their top staff with Apple iPhone 6s. Expensive gifts being presented not only appreciate efforts made by employees but are an attempt to retain talent in a resurging job market. Stemming attrition is a key priority to ensure top level staff in companies are not poached.
In 2014, Hari Krishna Exports of Surat rewarded 1,201 employees of the company with expensive cars, jewellery and flats with a total of INR 45 crores spend on these gifts. The diamond craftsmen received 500 Fiat Punto cars, 50 houses, and 500 Kisna Diamond Jewellery based o what they needed.