[phamilyman]

From http://www.abplive.in/india/2014/10/...s#.VEV1wMntvEg

You will surely want to be a part of this company before next Diwali. A Surat based diamond company gave away hundreds of cars and flats to its employees as a part of bonus this month.

The diamond merchant gifted brand new Fiat Punto cars to 491 of its employees and 207 2-BHK flats apart from expensive jewellery to nearly 600 employees of the company.

The bonus gifts were given to employees who achieved their annual targets during the year. Savji Bhai, the employer, gifted cars to those who, so far, did not own any four-wheeler.

Nearly 525 employees were also given gold and diamond jewellery. Surat-based Harikrishna Exports spent approximately Rs 50 crore for these incentives.

The Diwali gift is part of the Rs. 6000-crore Company’s 'loyalty programme'.

The firm first started this 'loyalty programme' three years back.

According to reports, in the first year, only three cars were given away while in second year, 72 employees received cars as their gifts for successfully achieving their targets.


Now that's called VALUING LOYALTY!


Also from: http://www.motoroids.com/news/surat-...ndia-rejoices/




PS: Expect a massive spike in the Punto numbers in the October sales report. The mods better filter out this unique one-time event

[jkdas]

Truly loyal! Wish others do 1/3 of this. Kudos to you sir!.

[hrman]

Wow!! Even if you do have the money, you need to have the heart to spend it on employees. Kudos to this guy!!

[mayankk]

I saw this yesterday, it was making headlines everywhere.
He's spent around 3.6 lac on each employee, as part payment on the car, or down payment on house, or as jewellery. Really really nice.

[joe1980]

I truly respect this company and its management. Like the post above says, even if you make humongous profits, one has to have the heart and goodwill to share that profit. In that sense, this company no matter what is setting itself apart!

[alpha1]

Hats off to the guy at the helm!
Whether for benevolent purpose or shrewd tactic, the point is that each of the employee would be highly motivated and remain loyal to this firm lifelong.

[srishiva]

He could have bought so much for himself with 50 crores !
Good that he thought about his employees in good times. King of good times

[Jaguar]

The monthly average salary of these workers is also over a lakh as per TOI. So if you do the math, the bonus works out to some 25-30% of the yearly salary. Not unrealistic, but surely a good move by the employer.

[dass]

Originally Posted by hrman

Wow!! Even if you do have the money, you need to have the heart to spend it on employees. Kudos to this guy!!

Completely agree with you on this one. A Lot of business have huge amount of money but very little is spent on their employees and this is truly in the different league all together. #respect.

[Geo_Ipe]

The employees are gonna have a tough time finding their car in the company parking lot!!

[Shanksta]

Hats off to the guy!!,Savji Kaka as he is known, really nice of him. Saw it on the news yesterday and his employees were a happy lot.

P.S. The man's got taste in cars out of all the various cars he could have bought, He chose a Punto Evo. Are all those Active Petrol or Active Diesel??

EDIT: Just saw the Motoroids link. 190 1.2's and 265 1.3 multijets in Pearl white and Minimal grey.

[SaurabhSaran]

I have never heard such type of gift distribution to so many employees together. Well done , employer has won heart of many other as well by doing this.

BTW, Happy Diwali to Fiat India also

[gsurya]

IMO a poor financial decision both from company & employee perspective as it will cost both of them significant tax burden. But yes, helpful as PR hype.

Should have instead given cars as company lease to the employees & fully subsidized housing loans; will save on taxes over the years & is also more effective for employee loyalty.

[teamveevee]

Hopefully this will start a new trend in Indian Corporate World. By the way, any idea how they decided on Fiat Punto? Was it Based on Employee Survey or relationship with the local Fiat dealer? It would have been better if they give employees, option to buy a car of their choice (with in a specified price range). But then the company wont get this much publicity.

[W.A.G.7]

Nice idea for an incentive to the employees! Apart from news it made, will the IT department be more interested in this company and it's cash books now?!!