Situation
A leading international stock brokerage firm realized the importance of rewarding and recognizing its Associates while increasing employee engagement and retention.

Objectives

• Engage Associates in a culture of reward and recognition by encouraging Associates to recognize each other
• Foster an environment of learning
• Improve Associate retention
• Improve customer and Associate satisfaction

Solution
The solution was to create a reward and recognition platform to enable easy and meaningful recognition of corporate and branch Associates for: 

• Outstanding customer service
• Superior quality of work
• Exceptional teamwork
• Exemplifying core values
• Excelling in initiative
• Innovative ideas
• Taking responsibility for learning

Communications

• To jump start the program, a light-hearted video was produced to introduce all Associates to the upcoming recognition platform.
• Kicked off with “I Scream, You Scream” ice cream social.
• Follow-up voicemail message from the president and CEO, reinforced the importance of recognition.
• Feature articles in the company’s newsletter, posters, email blasts, and web site home page updates promote the value of recognition and keep it top of mind.

Smart Features
Web Platform: Everything necessary to participate in recognizing each other was available online. The program used a Point-based reward system redeemable for high-quality merchandise.

Associates could take quizzes, send E-Cards, nominate teams or individuals, and redeem On-the-Spot cards.

Learn & Earn:
Associates earned Points for passing quizzes on product features, service skills and company information.

On-the-Spot cards:
Managers have On-the-Spot cards to recognize their Associates for doing the right things right. These awards are easy to use and add an element of excitement to the program.

Peer-to-Peer E-Cards:
Associates have opportunity to recognize Associates using e-Cards, electronic greeting cards for demonstrating key attributes. Recipients received Points for the recognition.

Prestigious Recognition through Associate Nomination:
Associates or Teams who go Above & Beyond can be nominated for prestigious company awards for their accomplishments that positively impact the organization.

Results
Early Engagement:
Within first day of program launch, 60% of all Associates logged on to the program’s website. Within one week, 83% of the Associates earned recognition points.

• Within first day of program launch, 60% of all Associates logged on to the program’s website. Within one week, 83% of the Associates earned recognition points.
• By week two, 94% of Associates had logged on and over 2,400 award opportunities were recorded.

  

• Engagement is still very high, recognition nominations exceeded 5,300.
  • 2,312 Individual
  • 3,002 Team
• Ranked number 16 on Computerworld’s 2008 Best Places to Work in IT, referencing their recognition program as one of the reasons why you would want to work there.
• Ranked one of FORTUNE’s “100 Best Companies to Work For” in 2008.