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CASE STUDY Incentives + Recognition in Action Upgrading a Corporate Rewards Program. THE ASK Employee engagement strategy and recognition tactics are constantly evolving. As we learn more about what motivates workers, there are always new opportunities to improve and create better connections. A top financial client recently approached us for advice on how to do just that. They had had two previous rewards programs: they had developed two separate programs: the first, a service anniversary platform, was used infrequently, as employees would access it just once every five years to redeem a gift from a small catalogue of limited reward options; the second was a peer-to-peer program that was also underutilized, as most associates received less than one recognition per year. THE STRATEGY Once our team completed an initial assessment of the client’s needs and goals, we created a comprehensive rewards solution that consolidated two programs and expanded on user experience. To help amplify engagement with the program, we The program has an 85% engagement score. suggested that, in addition to the client's years of service rewards, we could provide employees with further opportunities to accumulate points through peer- to-peer recognition and other key milestones. This extension allowed for ongoing engagement throughout the year and encouraged associates to recognize their peers with more tangible results. Additionally, employees can now select from. thousands of merchandise awards; plus, with our support, the client has added gift cards, charitable donations, travel, and experiences for amore dynamic assortment of award possibilities. THE RESULTS In its first year, the program had an 85% engagement score, with 81% of employees receiving recognition from a peer. The client has also been able to grow its workforce by 12%, as the ongoing recognition opportunities have contributed to amore engaged culture, allowing the company to successfully retain top talent and hire new recruits via internal referrals. 2023 ESSENTIALS REPORT 9
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