MUMBAI: For Savjibhai Dholakia, Diwali gifts are not limited to only sweets and dry fruits. This diamond magnate from Surat in Gujarat has been rewarding employees of his firm with diamond jewellery, new cars and flats for meeting their annual targets for the last three years.
Dholakia, chief executive officer of Hari Krishna Exporters, which manufactures cut and polished diamonds, did it again this year, presenting valuable gifts to 1,268 employees.
He awarded brand-new Fiat Punto cars to 491 workers, diamond jewellery to 570 and houses to 207.
The employees were asked to choose from one of the three.
Established in 1992, Dholakia’s company is worth of Rs 6,000 crore. “Performance and growth-based programme is the base for selecting employees for this reward,” he told Express over phone.
He said artisans who generate more revenue than the machine value of a diamond are chosen for the award.
Dholakia had set aside Rs 50 crore for the reward scheme he calls “loyalty programme”.
“I am not giving them anything from my pocket. This is part of the profit they earned for the company. I recognise the efforts of high performers and make them my partners,” the diamond merchant said.
The idea came to Dholakia three years ago. Then, he had awarded 10 people for their hard work. The number went up to 100 the next year.
“I told my employees that if the number of awardees can go to 100 from 10, why can’t it be 1,000 this year. This time 1,321 people are eligible for the reward. I do it purely to motivate them,” said Dholakia.
Fondly known as Savji kaka, Dholakia is a native of Dudhala village in Amreli district of Gujarat. He came to Surat in the late 1970s in search of a job. Penniless, Dholakia went to his uncle and borrowed some money to start the diamond business on a small scale. After years of struggle he established his own company in 1992.