How does a company that has received national accolades for its excellence in training, development, customer loyalty, engagement, and information technology2 recognize and reward its own employees? With the same gusto and enthusiasm. Scottrade, a premier stock trading company, introduced its “Above & Beyond” reward and recognition program this summer.
“We’ve always been a company with a lot of passion for our customers and our employees,” says Jane Wulf, Executive Director, Human Resources. “As we grow, we want to make sure we keep that small company feeling. We want our people to continue to take the time to say thank you and recognize others. And, we want to make it fun and easy.”
“Above & Beyond” rewards employees for their contributions in the areas of Outstanding Customer Service, Consistent Superior Quality of Work, Exceptional Teamwork, Exemplifying Scottrade’s Core Values, Excelling in Initiative, Innovative Ideas, and Taking Responsibility for Individual Learning. By recognizing employees for exemplifying Scottrade’s core values and culture, the company is driving the performance it needs to continue to grow the firm.
Communication is Key
To jump start and keep any recognition program top of mind requires targeted, frequent, and varied communications. Scottrade embraced this opportunity initiating a communications strategy including fun and interactive elements. A light-hearted video teased participants on what’s coming. The recognition program kicked off with an “I Scream, You Scream” company-wide ice cream social. At the company’s St. Louis headquarters, the executive committee served ice cream sundaes to associates. Branch offices across the nation received a gift box in order to host their own ice cream social, with managers serving associates.
A follow-up voicemail message from Rodger Riney, President and CEO, reinforced the goals of the program. A feature article in the company’s newsletter, posters, email blasts, and website home page updates continue to keep the recognition program top of mind.
The Process
Scottrade partnered with an incentive and recognition company to formalize and streamline the recognition process. Through the use of an innovative website (online recognition platform), employees play a points-for-performance game. Employees earn points, which they accumulate in their personal, passcode-protected online account and then redeem for merchandise. With the click of a key, employees can be recognized and recognize others.
Peer-to-Peer E-Cards
Employees recognize other employees with e-cards, electronic greeting cards. Once the reason for the award is selected (quality, teamwork, integrity, innovation, customer service, attitude, communication), the recipient receives a set point value for the e-card recognition.
Prestigious Recognition through Employee Nomination
Employees can nominate individuals for going above and beyond, perhaps for streamlining work processes to improve efficiencies or helping out a team member on a special project. Nominees passing an approval process are awarded program points. Teams are also recognized for accomplishments that impact the organization. Scottrade executives review each team nomination and award points accordingly.
Making Recognition Fun and Exciting
Members of Scottrade’s management have scratch-off cards to recognize their associates for doing the right things right. These on-the-spot awards are redeemed through the online Scottrade recognition platform.
“The scratch-offs have been a huge success,” says Wulf. “They add an element of excitement and anticipation to the program.”
Investing in Learning
Knowledge is power and Scottrade recognizes those who invest in learning. Periodic quizzes are posted on the online recognition platform. Successfully complete the quiz, and points are automatically awarded. Scottrade University also reinforces training by rewarding points for classes taken on their Learning Management System.
The Pay Off 
Scottrade’s strategy is paying off. Within the first day of the program launch, 60% of all employees logged on to the program’s website. Within one week, 83% of the employees earned recognition points. By week two, 94% of employees had logged on and over 2,400 award opportunities were recorded. This level of engagement is a testament to Scottrade’s commitment to support, reward, and recognize its employees’ contributions.
“We are so pleased that the recognition program is being embraced by our supervisors as well as our associates. Recognition is a real factor in engaging associates, and engaged associates are necessary to the company’s success,” concludes Wulf.
1 Robert Half International and careerbuilder.com. “Employment dynamics and growth expectations (EDGE) report reveals job seekers have more influence than they realize,” May 1, 2005.
2 In 2007, Scottrade is the proud recipient of the 2006 Learning Leader for Operational Program Excellence by research firm Bersin & Associates, Training Top 125 by Training magazine, Online Brokerage Category of the 2007 Brand Keys Customer Loyalty Engagement Index, and 2007 CIO magazine 100 award for operational and strategic excellence in information technology. Go to www.scottrade.com for more information.