All-Employee Solution2019-01-07T12:30:03+00:00
CASE STUDY ONE All-Employee Solution Creating a company-wide culture of recognition and reward

FORTUNE 100 COMPANY

 

PROGRAMS RUN
ANNUALLY

 

POINTS DEPOSITED INTO
EMPLOYEE ACCOUNTS
ANNUALLY

 

REDUCTION IN
PROGRAM COSTS

BACKGROUND

This long-term Meridian Loyalty client operated a number of incentive, recognition and service award programs at the corporate, region and local levels for its 100,000+ employees nationwide. While the company’s decentralized management structure provided managers throughout the organization the latitude to operate their own programs independently, executive management had no way of tracking the number of existing initiatives, the annual total being spent company wide, or the effectiveness of existing programs. Eager to centralize all reward and recognition initiatives via a web-based system, the client began to explore options, even though concerned that not all employees had access to the internet at work.

Objectives:

  • Centralize all reward and recognition initiatives
  • Establish a more visible and effective means of rewarding and recognizing employees
  • Improve financial management of reward and recognition initiatives throughout the organization
  • Reduce costs

OUR SOLUTION

Meridian Loyalty helped the client introduce and implement an “enterprise reward and recognition platform” that enabled managers to run their own employee programs. A centralized online tool was launched so managers can administer program promotions and reward individuals and teams for performance.

The program was expanded to more richly reward a wider range of employees and to reward the best employees at higher levels.

In addition, their Service Anniversary program and other corporate-wide initiatives were included on the platform.

THE RESULTS

The enterprise solution greatly benefited the client.

  • In its first full year of operation, 30 programs ran on the enterprise platform and over $1 million was deposited into employee accounts. Currently there are over 280 programs on the platform annually and $10,000,000 is deposited into employee accounts.
  • Since inception, the client has been able to realize measurable cost savings, most notably:
    • Individual program costs have been reduced by an average of 16%
    • The pay-on-redemption arrangement offers a cash flow advantage not realized with previously used methods in which the client paid for points at the time they were awarded
  • Proved an effective solution as employees have embraced the system and access the platform outside the workplace
  • Streamlined operation and administration of individual recognition and incentive programs
  • Increased the perceived value of awards for employees
  • Enabled reduced award spend rates for individual programs, as earnings from all programs are now deposited into a single award earnings account for each employee
  • Created a highly visible, highly desirable and popular employee benefit, which the company now promotes as part of their recruiting efforts