Many businesses have a rewards program, but is it the right one? Establishing the right reward program to motivate and improve recognition across your workforce is an integral part of a businesses strategy.
This global technology company wanted to improve the way they recognised their employees while providing a consistent recognition strategy enterprise wide.
They started by looking at the results of a cross-industry benchmark study and internal organisational audit. The feedback highlighted a disparity in their current recognition programs in terms of the value of the awards as well as the inconsistency in both the type of awards and manner in which they were given.
They needed help to implement a single, comprehensive recognition program companywide, including consolidating all programs with one partner to gain economies of scale, show consistency and reduce expenses. The goal was to improve employee engagement and create a culture of appreciation.
This was a big undertaking. BI WORLDWIDE needed to provide a solution to motivate more than 380,000 employees, including 32,000 managers, in 100+ countries. We took the challenge to help them become one of the most engaged workforces in the world and be renowned for employee engagement, retention and happiness.
The solution was a consistent global recognition experience in the form of a consumer-grade platform for giving and receiving recognition for leaders, managers and employees.
BI WORLDWIDE worked closely with the company to design, implement and manage a single, comprehensive recognition program companywide, consolidating the following:
And points can be used for hundreds of thousands of merchandise items and experiences through BIW’s Global Rewards Marketplace. The options are localised to provide meaningful and representative awards for each geographic region.
The efficiency of one system makes it easy and cost-effective. The utilisation rate for manager discretionary recognition is 96%, with over 350 million points issued. The recognition system has a net promoter score of 58, which is considered “excellent” according the NPS benchmark. By consolidating key programs onto one platform, the company has realised $85 million in annual savings per BIW’s estimate based on attrition.
This company has a comprehensive global solution to inspire employees, empower first-line managers and increase engagement scores. This system is used for recognition, ad hoc promotions, service milestones and patent awards.