Employee Recognition Program
A consumer product company went through a merger that resulted in significant changes to the upper management structure. These staff changes led to a loss of top talent and a decrease in employee morale and productivity, which negatively impacted the company’s bottom line results. As a way to motivate, engage and retain employees, the company wanted to implement an Employee Recognition Program that provided a comprehensive online rewards and redemption platform across all departments. The client wanted a strategic program with clearly defined award criteria and complete employee eligibility for all. In addition, the company wanted to ensure middle management would be fully engaged in the program and reward points on a frequent and equitable basis.
The Rymax Solution
Rymax designed and deployed a completely customized Employee Recognition Program through one cohesive platform. The program was points based on corporate and departmental goals, along with rewarding peer-to-peer accomplishments, years of service and spot recognition. Corporate goals were established by human resources and senior management to help encourage companywide commitment and management buy-in. Departmental and training goals were set by departmental managers. The online platform incorporated the client’s desired hierarchy of administrative control for managers including the ability to set goals, reward points to individuals, send automatic reward notification communications, and run custom and participant reports.
Employees received a congratulatory email from their manager along with points that could be redeemed for thousands of incentive rewards online, via a fully secure and customized online rewards and redemption platform. A buy-up feature was also included, which allowed all employees to match their points with dollars, up to 100% of their existing balance, to purchase a rewards of a higher point-value. Additionally, a mini program was created to motivate and reward middle managers and point grantors, each month, based on the amount of points awarded. This encourages managers to generate excitement for the program with their staff and keep them motivated with ongoing communication.
The program has created a more engaged and loyal workforce, with decreased employee turnover, well below the industry average. Managers are more consistent in their usage of the program, and the employees are steadily redeeming their points and quickly receiving their rewards. Employee retention increased by 15% over the previous year while the client was able to effectively reengage their employees by demonstrating a continued investment in the workforce. More than 73% of employees felt they were extremely satisfied with the recognition received, and stated being recognized in a timely manner for their achievements.