Be the first to like this
RFPs can be simple or complex but all will help you evaluate your current service anniversary program and ensure you are partnered with the best supplier.
The New Year brings many recurring activities to life — resolutions, taxes and RFPs. Requests for Proposals are used by companies that regularly review costs and services for their employee recognition programs, de service anniversaries. RFPs are often driven by procurement specialists to ensure the company is getting the best value for the budget allocated to the programs.
When you decide to evaluate new suppliers for your service anniversary program, consider why the program is valuable in your organization. Behavioral economists remind us of the dopamine effect, the rush people feel after something good happens. When employees are publicly recognized for their length of service, they will feel good about what they are doing and what they have accomplished. This ultimately keeps them focused, directed and willing to repeat behaviors. The supplier you choose to partner with for your service anniversary program should understand your employee recognition goals and align their strategy with how best to achieve them.
RFPs can range from simple to complex and can involve numerous participants from several areas of the company. A typical team includes associates representing procurement, human resources, benefits, compensation, technology, accounting, communications and legal. Each person involved has a vested interest in the responses given in the document and should have a voice in the questions asked and the pricing presented.
The information provided by suppliers you select to participate in the RFP process should be objective and comparable to allow you to differentiate a candidate with a desirable profile for the program offering. Subjective questions or requests make comparison difficult and tend to complicate the selection process.
We suggest limiting your candidate field to between five and ten suppliers that are capable of providing the goods and services your company is seeking and providing a formal timeline to set expectations for the entire process. Limit communications with the suppliers to a single member of your RFP team and provide answers and feedback to the entire group for each request or question posed.
Most companies will choose only a few of the respondents to provide a formal stand up presentation shortly after the selection process has identified the best responses in terms of services, awards and pricing. The RFP process also gives you and your company the opportunity to compare your current program to innovations being provided by others in the employee recognition industry.
The RFP process can be time consuming and require a lot of work but the outcome can be very gratifying. It will help confirm you are aligned with the best supplier and receiving the best value for your investment.