Case Study of Employee Recognition at a financial services company, part of one of the largest conglomerates in India. The company leverages the HiFives platform for its recognition program.
1. A financial services company in India, part of a large conglomerate, implemented an employee recognition program using the HiFives platform to drive company values and foster a culture of appreciation across 12,500+ employees.
2. The program includes spot, quarterly, annual, and long service awards, allowing for monetary and non-monetary recognition initiated by peers and managers.
3. Employees can access the platform via HRMS or WhatsApp to nominate coworkers, receive notifications, and redeem reward points for e-gift cards.
4. The program has successfully driven alignment with company values, encouraged collaboration across teams, and created a culture of appreciation.
The financial services arm of one of India’s most prominent business conglomerates.
The company has over 13,500 employees across marketing, sales, operations, customer service, and enabling functions, with a presence in more than 50 locations.
To drive company values and create a culture of appreciation, cutting across functions and teams.
The program is well-defined and comprises various monetary and non-monetary recognition types.
It includes spot recognition and quarterly and annual awards. Peers can nominate colleagues for spot recognition, and managers can nominate their team members for quarterly and yearly awards.
There are also long service awards for specific service milestones.
Employees can access the HiFives platform through Peoplestrong, the company’s HRMS, using single sign-on (SSO) without separate credentials.
Employees can also access the platform directly from WhatsApp on their mobile devices. They can nominate their co-workers for spot recognition via WhatsApp.
They also receive notifications of various recognitions and awards on WhatsApp.
The HiFives platform has the program’s branding, including the logo, theme colors, e-certificates, and all communication via email and other channels.
Managers can nominate their team members for various quarterly and annual awards through the platform.
After that, the respective business heads review and approve these nomination requests.
After the first level of approval, panels of senior managers review these nominations.
They evaluate and rate the nominations based on specific, predefined parameters depending on the type of awards.
After the panel evaluation, the corporate HR team reviews the nominations to make the final decision.
They can view the nomination rankings for each award category based on the panel members’ overall ratings.
Based on these rankings, the HR team releases awards to the top-rated employees in each category.
Once the awards are approved and released, employees receive personalized e-certificates via email.
Also, employees receive the points in their accounts on the platform.
The HiFives platform also enables managers to reward and recognize project, functional, and cross-functional teams.
Managers nominate their teams for quarterly and annual awards.
The respective business heads review these nominations, and panels further evaluate them before the awards are finalized and released to the winning teams.
The entire team receives communication via email and WhatsApp, as well as common e-certificates.
Co-workers can recognize others for demonstrating the company’s core values using value cards.
They can personalize these cards with relevant messages.
These value cards are non-monetary and do not require any approval.
The recipients, as well as their reporting managers, receive the cards via email.
Employees receive automated notifications with e-certificates upon completing significant service milestones.
They receive certificates via email and WhatsApp.
Even their immediate reporting managers and team members get notified.
The HR team conducts various employee engagement activities on the platform for wellness and culture-related occasions.
Employees post pictures and videos of these activities using the HiFives Stories.
Other employees across the company like and comment on these stories.
Employees earn reward points from different awards they receive through the platform.
The Leaderboard on the platform shows the top winners based on reward points across functions and locations.
All awards, peer recognition, and employee milestones are automatically visible on the Wall of Fame on the HiFives platform. Other employees can see and like the posts to congratulate the winners.
Immediate team members of the recipients also receive WhatsApp notifications.
Also, employees can redeem their reward points for e-gift cards from leading brands.
Employees can choose from a catalog of e-gift cards from hundreds of reputable brands and receive them via email.
The Corporate HR team can also monitor the program’s health using various reports and analytics dashboards.
Based on the metrics and the trend, they take appropriate action.
The HR team reviews the program’s key metrics, such as the percentage of employees recognized, compares them across different functions and locations, and takes appropriate actions.
The employee recognition program delivers significant benefits:
1. Drives alignment with the company values
2. Creates a culture of appreciation
3. Encourages collaboration and recognition across teams
To stay updated on the latest HiFives blogs, follow us on Twitter (@MyHiFives)