Employee Rewards and Recognition program in India
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Employee Rewards and Recognition program in India

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Reward and Recognition Programs in india Increases engagement and productivity. Localize your best practices and celebrate your most valuable performers. BI WORLDWIDE helps you understand what ...

Reward and Recognition Programs in india Increases engagement and productivity. Localize your best practices and celebrate your most valuable performers. BI WORLDWIDE helps you understand what motivates and engages your employees. And we deliver your desired results.

Recognition and Reward Capabilities global recognition and reward programs include manager discretionary awards, employee-to-employee recognition, longevity and service anniversary awards, off-line recognition, employee incentives and contests, team-based rewards, new-hire referral programs, nomination systems, idea/suggestion programs and wellness programs

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  • Discretionary effort: employee willingness to go “above and beyond” the call of duty, such as looking for ways to perform their jobs more effectively.Intent to stay: employee desire to stay with the organization based on whether they think of quitting or are actively looking for a job.
  • Consider differences in generations, countries, gender in reward mixEncourage work/life balanceProvide training on, and drive manager responsibility in, employee recognitionProvide individual choice in rewardsUtilize price parity for awards by countryAlign program phases with company reporting capabilitiesAllow personalization of communications

Employee Rewards and Recognition program in India Employee Rewards and Recognition program in India Presentation Transcript

  • BI WORLDWIDE Page 1
  • Our history 1950 Founder Guy Schoenecker starts BIW as a jewelry and merchandise company for promotional needs 1960-1970 Expands to include Travel and focuses on Sales and Employee incentives 1980-1990 Employee recognition, Market Research and events 1990 - 2000 Under Larry Schoenecker’s leadership - Quality, digital marketing, customer loyalty, web based learning, coalition marketing 2000-2010+ •Australia |Canada | China | India | UK | USA | Latin America* Page 2
  • Our Logo • It's abstract. The design engages the imagination. It has been interpreted as a set of wings and implies movement and upward motion. • It ascends. We are hired to help our clients increase revenue, market share, or new product/service activations. Business leaders want things to go up. • It's lighthearted. Whenever we engage participants through incentive, learning recognition and reward programs - we design the experience to be positive and fun. Page 3
  • Our Mission To produce measurable results for our clients by driving & sustaining engagement with their employees, channel partners & consumers. Page 4
  • Creating a High Performance Culture Page 5
  • Our Vision BI WORLDWIDE’s current revenue being $430,000,000 - To have BI WORLDWIDE revenue of $850,000,000 by 2017. To be our industry’s thought leader in behavioral economics & engagement. To expand our business in North America, Europe, China, Australia & India and open up in South America by 2015. To be a very cool & fun place to work. Page 6
  • Our Values • • • • • • • • • • • Service well done. Innovate or perish. Fast is better than slow. Action is better than talk. Never give up. In it for the long haul. Play nice in the sandbox. Change is inevitable... so get on with it. Don’t be cocky. Help each other. It’s not all about us. Work hard, play hard, celebrate. Page 7
  • BI WORLDWIDE Overview • Synopsis – Privately held: $425 million in sales – Global business improvement company focused on: • employee engagement • sales and channel effectiveness • promotional marketing • Resources – More than 1,200 associates – Headquarters in: Australia, Canada, China, India, United Kingdom and United States – Global coverage of rewards redemption through partnerships – 60+ years of experience • Awards & Certifications – Malcolm Baldrige National Quality Award – ISO 9001:2008 Certified – SAS 70 Type II Audit – Telly Award Winner Page 8 – New York Festival Winner – Brandon Hall Silver Learning Award – 2011 HR Product of the Year – HR Executive Magazine
  • Our global presence Headquarters (full service – design, implementation, technology, customer service) Regional Offices Page 9 • • Minneapolis Vancouver • • Miami London • • • Bangalore Shanghai Melbourne • Berlin • Chennai • • Singapore New Delhi
  • BIW Delivery Model Cornerstone of our business approach • Four Core Principles: Discovery Design Definition Delivery  Understand the client  Understand the objectives  Understand the audience  Design a solution that addresses the issues and requirements  Design a creative direction/theme/ promotional approach for the opportunity  Design a ‘look’ and ‘feel’ for everything connected to the opportunity  Design program and then pre-test the solution  Evaluate all pricing  Define and agree on the details of the project  Define and agree on the roles and responsibilities  Define and agree on budgets  Define and agree on timelines  Define and agree on action items  Define and agree on review dates  Manage and deliver on all areas of the defined project  Manage all agreed-upon supplier and third-party contacts  Manage changes as necessary  Ensure customer satisfaction  Conduct regular reviews and updates  Manage the budget  Evaluate ROI Page 10
  • Sample of BI WORLDWIDE Global Clients Page 11
  • India market opportunity/Our objectives Page 12
  • We are in India… Delhi Sales/Servicing Mumbai Sales/Servicing Bangalore HQ Chennai Technology/Sales Page 13
  • India Organization Bangalore | Chennai | Mumbai | New Delhi Sales and BD Bangalore, Delhi, Mumbai Team of 4 Creative Team Chennai Team of 3 Admin/HR/Finance /Support Staff Chennai, Bangalore, Delhi Team of 8 Technology and Development Bangalore/Chennai Client Services Bangalore, Delhi Team of 2 Project Development Delivery Team Bangalore, Chennai Team of 2 Page 14 Project Management Chennai Team of 22 Chennai Team of 8 QA & QC Chennai Team of 8
  • What we do Our mission is to produce measurable results for our clients by driving & sustaining engagement with their employees, channel partners and consumers EMPLOYEE SALES CONSUMERS Build Employee Engagement Drive Sales & Channel performance Create customer preference Page 15
  • Consumer Marketing Give your CONSUMERS what they want and need Identify your best Customers and build Loyalty and Repeat Sales Page 16 Loyalty Marketing Interactive Promotions Branded Merchandise Privileges Program
  • Sales & Channel Effectiveness Give your SALES CHANNEL the tools they need to succeed Sales Incentives Build an efficient Partner eco-system that fosters Trust and Profitability Page 17 Distributor / Reseller Programs MDF & Co-op Management Lead Generation Research & Analytics Communication
  • Employee Engagement & Motivation Give your employees more than a paycheck Employee Rewards & Recognition Improve employee Productivity, Satisfaction & Retention Service Anniversary Awards Referral Programs Mobile Engagement Wellness Programs Safety Programs Page 18
  • Rewards Fulfillment Capability Catalogue designing basis program audience Catalogue with Over 1500 items Rewards Procurement & Quality check MIS Preparation E-commerce tie ups enabling quick TAT Fulfillment Management Packaging & Dispatch Management Warehousing of items Offline & Online redemption Page 19 Alliances with logistic partners, LFRS, B2B partners
  • Innovative technology • • • • • • G4/G5 – employee recognition / Sales incentives PURL – Personalized URL for nominations/anniversary ME – Service anniversary platform MAX – Channel incentives Goal Quest – Sales incentives AwardsLinQ – Catalog technology • Proven, robust, industry leading technology Page 20
  • Incentives/Loyalty needs in India are evolving with companies slowly realizing the importance and advantages of such strategies India current scenario Wave II Wave I B2B B2E B2C Discounting based approach, no targeting Mostly routine Annual outings / celebrations Simple consumer schemes Increase channel excitement  Advent of points based schemes Greater need to motivate employees / emphasize company’s goals & values Greater demand for choice Wave III Demand for personalization of rewards â Greater element of experience Greater use of recognition Demand for solutions to track & monitor the effectiveness of R&R schemes Advanced use of technology (mobile) Greater usage of predictive analytics Rewards to become more of a key differentiator Greater tier-ization and segmentation of customers Source: Company interviews, secondary research, analysis Page 21  Rise of experiential loyalty programs 21
  • companies, both across manufacturing and services, are investing in various loyalty/incentive programs Type Major Industries Typical Spends On Programs1,2,3,4 FMCG BFSI: Insurance, Credit Cards, Mutual Funds Incentives 0.5% – 2% of sales 1% - 1.5% of sales IT 0.25% - 0.75% of sales Retail: Apparel Retail: Grocery Loyalty 0.5% - 1% of sales 0.25% - 0.5% of sales BFSI: Credit card companies Hotels & Airlines 1% - 2% of sales 0.2% - 0.3% of sales Services (IT / ITes, BFSI) Recognition Rs 1100 / employee / year Manufacturing (Auto, Engineering) Rs 275 / employee / year Note : 1. For actual costs incurred, does not indicate provisioning 2. Does not include initial set up costs, includes administration, communication and fulfillment costs includes spends on travel as part of incentive / loyalty 3. Dedicated incentive travel budget has been excluded 4. Excludes discounts that would be given as part of regular schemes / sales 5. B2E spends are for white collar workers, excludes spends on parties Page 22
  • Market scenario at a closer level Edenred Redbox Rewards NetCarrots Payback E-commerce websites Rewards 360 Benefits Plus Many local players Rewards fulfillment Cartesian consulting Cequity Rideau LoyaltyOne Aimia Loyalty Consulting, Analytics, Tech Loyalty, incentives And Recognition Edenred Aimia NetCarrots Grassroots Solutions Integrated BIW MyPerks/BenefitsPlus/QuadMo… Competition amongst full service companies has increased Page 23
  • Technology that will differentiate us Tech Platforms Stack for India ‘Me’ Channel Mid size business G4/G5 Lite Page 24 MerchLinq Service Anniversary G4/ QA Max/Rev G4/G5 recognition Employee Large size business
  • The Power of Recognition Page 25
  • Impact on Employee Performance Page 26 Source: Corporate Executive Board Page 26
  • How BI WORLDWIDE Can Help Page 27
  • Creating a High Performance Culture Page 28 Page 28
  • Recognition Framework Page 29 Page 29
  • Page 30 Page 30
  • Trends in Global Programs • Consider differences for reward mix • Encourage work/life blending • Drive manager responsibility for recognition • Provide individual choice in rewards • Utilize price parity for awards by country • Align phases with localization needs • Allow personalization Page 31