The high-tech way to high-five your people
An engaged employee is a happy employee, one who’s emotionally committed to your organisation’s goals and less likely to quit after a few short months. Especially given the year we’ve had, with Australian workers missing out on pay rises and seeing their salaries cut, improving engagement is a top priority for HR.
But how do you secure that engagement?
One way is through an effective rewards and recognition programme. According to the Society for Human Resource Management, HR departments should spend at least 1% of payroll on rewards and recognition to boost employee engagement.
In Australia, while employee engagement levels are above the global average, it seems there’s a need to streamline efforts in this area. In ELMO’s HR Industry Benchmark Survey 2019, one in 12 respondents said employee engagement was taking up too much of HR’s time.
Enter Vantage Circle, an India-based company looking to bring quick, simple workforce engagement solutions to the Australian market. Vantage Circle has established itself as a market leader in employee engagement in India and the US and is now looking to expand operations to the Australian HR space, where it sees “huge potential”, says Partha Neog, CEO Vantage Circle.
Vantage Circle has partnered with intelliHR- an Australian HR technology platform with a next-generation cloud-based people management and data analytics platform. IntelliHR's strategic HR SaaS product will enable the adoption of Vantage Circle's simplified AI-powered rewards and recognition solutions.
Of course the type of rewards and recognition you offer depends very much on the size of your budget and of your workforce. But Vantage Circle prides itself on its adaptability. “Vantage Rewards is a powerful, simple platform that is fast, easy, and seamless to use and implement. And it was designed for teams big and small,” says Anjan Pathak, CTO Vantage Circle. “We have flexible pricing options to suit your budget.”
Vantage Circle’s four solutions include: Vantage Rewards for employee rewards and recognition; Vantage Perks for employee benefit and compensation; Vantage Pulse for collecting and measuring employee engagement and feedback; and Vantage Fit for enhancing employee health and wellness.
The SaaS-based Vantage Rewards has come into its own during the pandemic, addressing the need for connection for remote employees. “It provides an incredibly accessible social platform, ensuring people are seen, appreciated and valued at the time when they need it the most,” says Neog.
The company-wide solution also helps build team spirit among a dispersed workforce by encouraging timely, frequent, and value-based appreciation among peers and team members. Whether it’s a social feed post or the on-the-spot recognition feature on your recognition program, Vantage Rewards understands and prioritises connection between peers by making it easier for employees to recognize on the go, 24/7.
Neog cites the example of an India-based real estate firm which wanted to boost engagement among employees spread across several cities and states. Their employees had undergone a huge culture shock after a big merger in 2018, where they had to step away from their comfort zone and work with all-new teams. Vantage Circle’s mobile-first social rewards and recognition module “fit like a glove”. By promoting a culture of appreciation, boosting employee visibility and keeping people engaged even when on the move, they saw a 40% increase in employee engagement.
Similarly, a global IT and consulting firm managed to engage their globally dispersed employees and improve their work experience through instant recognition, which led to a 15% increase in employee engagement in the year 2020 .
Of course a digital pat on the back is wonderful, but in these straitened times, a little financial reward doesn’t go amiss either. Which is where Vantage’s point-based reward system comes in. “Vantage Points can be digitally used by employees to choose and buy the rewards they want from a global gift card catalogue of top brands and services,” says Pathak.
