BlogCategory - Popular

Creating and Managing an R&R budget on a digital platform

29 October, 2021

Creating and Managing an R&R budget on a digital platform

When building a case for digitizing your firm’s R&R initiatives, an important question that always arises is- how do you ensure that your R&R budget is not exceeded? Or maybe, how can you optimize your R&R spend for maximum efficacy? Or- is my rewards budget framework in line with the industry best practices? This blog helps you answer these questions and ensure effective budgeting using your R&R or engagement digital platform. Step 1- Creating a Budget Framework When creating a budget for a digital rewards platform, keep in mind that unlike traditional methods, digital mediums offer the advantage of instant…

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Combatting Cognitive Human Biases with a Digital Engagement Platform

12 October, 2021

Combatting Cognitive Human Biases with a Digital Engagement Platform

Behavioral science has revealed that the human mind is wired to take shortcuts to make quick analyses, conclusions, or decisions about people. This often results in what is called ‘cognitive bias’. While these mental shortcuts or ‘heuristics’ save us a lot of effort in everyday decision-making, they can often trip us up, especially in a work environment. This can result in a compromised workplace culture and inefficient people management. This blog will discuss the various types of biases and how an effective employee engagement platform can be leveraged to keep them at bay. Recency Bias: Challenge- Simply put, this bias…

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People Focused Leadership in Times of Crisis

29 April, 2021

People Focused Leadership in Times of Crisis

The pandemic has resulted in a major upheaval within the world of work. With a fresh rise of cases and mortalities, it is a tumultuous time for us all, whether through exposure on the field or juggling priorities while working from home.

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The Art of Employee Retention Through Data Science

11 February, 2021

The Art of Employee Retention Through Data Science

A majority of firms today already have fairly robust offline rewards programs that help them navigate the needs of evolving workforces. However, in today’s competitive world, having a manual total rewards program is not enough. Lending measurability to the same is essential and something that can only be accomplished with the help of a digital platform. The C-suite wants to see returns on investment and impact of employee engagement on the bottom line. McK­in­sey found that ​‘CEOs who insist on rig­or­ous­ly mea­sur­ing and man­ag­ing all cul­tur­al ele­ments that dri­ve per­for­mance more than dou­ble the odds that their strate­gies will be exe­cut­ed,…

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Using Nominations to Boost Holistic Recognition

28 January, 2021

Using Nominations to Boost Holistic Recognition

The process of inviting nominations is a formal, time-tested method to recognize employee contributions and reward top-performers. Typically, firms encourage nominations for outstanding achievements which result in awards for employee of the month, quarter or year. Nominations in recognition programs serve as a signal to employees across levels on the kind of behaviors and organizational alignment that the executive management of a firm is looking for. Having a well-structured nominations module integrated with your total rewards program comes with significant advantages: 360 Degree Evaluation: Nominations can be top-down, bottom-up or peer-based. Earlier, corporations would allow for only senior management or…

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Improving Employee Engagement Using Maslow’s Hierarchy of Needs Framework

11 January, 2021

Improving Employee Engagement Using Maslow’s Hierarchy of Needs Framework

Maslow’s Needs Hierarchy is a powerful, holistic roadmap from which one can understand the needs of the modern workforce. With the post-COVID economic slowdown, talent optimization has been a business priority. Maslow’s theory helps with just that- it helps organizations hone talent and improve employee engagement through the right kind of gratification. Maslow’s theory comprises of a pyramid with 5 levels- Levels 1 and 2 comprise what we call the bare minimum or basic needs of a human being like water, food, shelter, financial security and stability. Levels 3 and 4 are higher-order needs which are more psychological in nature…

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Redefining Employee Recognition during COVID-19

19 October, 2020

Redefining Employee Recognition during COVID-19

COVID-19 has changed the workplace as we know it. Everyone is still coming to terms with the uncertainties it has brought along with it- financial, social and emotional. As organizations repair and rebuild their revenue streams after being forced to undertake stringent cost cutting measures, they need to retain and reward the people who have stuck by. This is important from a business continuity perspective not just during but beyond the pandemic. An effective employee rewards and recognition program is thus an important requirement for organizations in the recovery phase. There are powerful statistics to show the impact of having…

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Using the ‘Drive to Acquire’ Psychology to Enhance Employee Engagement

9 September, 2020

Using the ‘Drive to Acquire’ Psychology to Enhance Employee Engagement

Evolutionary Psychology is a multi-disciplinary approach to understanding human nature from a historical perspective, based on the study of genetics, archeology, neuroscience etc. Modern evolutionary psychologists have been able to rigorously study human behavior using brain-imaging, pharmaceutical and genetic technologies. Among them, two Harvard professors- Nitin Nohria and Paul Lawrence, have studied people in the workplace and built on previous research to propose 4 human drives that regulate our behavior at the workplace. They are as follows: The Drive to Acquire – the desire to obtain physical objects like money, cars, trophies as well as intangible goods like status and…

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