Corporate rewarding is a tricky thing. You are not so much rewarding an individual as you are a group; one that displays similar attributes, preferences, and expectations as a rewardee. A company must address three such groups if it wants to improve stakeholder engagement.
The Background – A strategic subdivision of one of India’s leading business conglomerates, the client specializes in engineering, bicycles, among others, and is considered the largest cycle manufacturer in the country.
The client is the fastest growing company in the Indian sanitaryware segment. The company also offers an extensive range of products from faucets, tiles to kitchen sinks and whirlpools, in order to complement its sanitaryware segment.
The client is a well-known electronics & whitegoods manufacture, with 600+ exclusive branded outlets across 50+ cities in the country. The company’s product lines include televisions, home theater systems, refrigerators, washing machines, mobile phones, smart appliances, among others.
For years the corporate has uttered the phrase ‘rewards and recognition,’ (or, R&R) in the same breath. But recognizing an employee for her work is, organizationally speaking, very different from delivering that recognition as a tangible benefit.
The client was already running a loyalty program. The program provided fixed rewards to sales agents, based on their sales performance of specific financial products. But the sales agents found the rewards to be underwhelming.
The client has a sprawling distributor base (over 15000, spread across the country). To incentivize and engage its network of distributors, the client ran a loyalty rewards program. The program offered a limited range of merchandise as rewards.
The client had an extensive partner network, spread across the country. The client ran periodic trade promotions and schemes to engage the network. Under the set-up, the retail partners were offered credit notes and physical gifts as rewards. But the rewards did not reach the partners on time.
The client was already running a rewards program with one of their partners, who procured and provided gifts from multiple sources. The program was meant to reward customers who completed a specific denomination-based transactions. But the rewards were either boring and unimaginative.
Self-service portal from Qwikcilver is a plug and play solution that enables corporates to launch and manage gift card based reward programs. The concept was born out of a need to develop a reward program with minimum dependency on third party vendors and at the same time ensure that other parameters of Compliance, Pricing and Quality are met at the highest levels. This portal enables the corporate teams, be it the HR managers or the Procurement managers to procure gift vouchers in bulk as a simple excel file or send to employees / customers in a customized email template with the click of a button.