PROVEN ROI. The Case for the YouEarnedIt Employee Experience Platform

Transcription

1 PROVEN ROI The Case for the YouEarnedIt Employee Experience Platform

2 PROVEN ROI TABLE OF CONTENTS 2 Table of Contents About This Report Proven ROI: Employee Engagement Proven ROI: Organization-wide Impact Proven ROI: Program Participation Proven ROI: Strategic & Cultural Goals Conclusion About Fidelio Works LLC & YouEarnedIt Proven Benefits at a Glance

3 PROVEN ROI ABOUT THIS REPORT 3 About This Report YouEarnedIt customers implement our solution for a variety of reasons, from connecting employees in different departments and locations, to increasing engagement and rewarding individuals and teams that meet strategic business goals. We recently hired a third-party research firm, Fidelio Works Consulting LLC, to conduct indepth interviews with eleven YouEarnedIt customers to understand how their employees and organizations have benefited from implementing the YouEarnedIt solution. Participating companies ranged from technology and marketing to financial services and consumer products. Customers reported that YouEarnedIt delivers value in four primary ways: Improving employee engagement Better use of time and money Increasing program participation Aligning to business goals

4 4 PROVEN ROI EMPLOYEE ENGAGEMENT 4 PROVEN ROI Employee Engagement Improving employee engagement was often the primary driver for the purchase of YouEarnedIt. And YouEarnedIt delivers: 100% Customer Testimonials It s nice to see the different department recognizing each other. It s broken down the walls. Veterinary hospital of customers reported increased employee engagement, which was experienced in a variety of ways depending on the type of company and its challenges. An overwhelming benefit was an increase in feelings of appreciation and connection among employees. We are creating a culture of thank you. Direct sales company Participants who are active in YouEarnedIt are happier, more engaged, and better adjusted. Online retailer Employees love it it s the most popular piece of company software they use. Enterprise marketing platform Our pay isn t always as high [as other industries], and in this market, we needed employees to feel connected and appreciated, so they stay. Credit union

5 PROVEN ROI EMPLOYEE ENGAGEMENT 5 TEAM CONNECTIONyour cfo Employee engagement still sounds fl Team members who spread across multiple locations, or even multiple countries, are particularly vulnerable to feeling disconnected from their peers. YouEarnedIt has a dramatic impact on employees who had previously struggled to feel and act like part of a team. When you have a lot of remote locations, or when you don t go to any office, YouEarnedIt can make you feel like part of the team. Financial software provider Our client teams work in multiple offices. YouEarnedIt is an excellent way to keep them all connected and contributes to a global mindset. Multinational advertising agency With a distributed workforce and teams in different locations, YouEarnedIt gives realtime ability for employees to recognize each other when they are not sitting next to each other. Digital marketing company It s such a great way to feel connected and see what s going on, people in the field have sent thank you messages to our CEO. Insurance company When you have a lot of remote locations, or when you don t go to any office, YouEarnedIt

6 PROVEN ROI EMPLOYEE ENGAGEMENT 6 CUSTOMIZED REWARDS Meaningful awards that target specific employee needs or reinforce aspects of the corporate culture also enhance engagement. We love the fun, inventive ways they come up with to give each other points. Enterprise marketing platform Customized awards with a controlled cash value are particularly important to lower-paid employees. Our warehouse employees love having lots of options to redeem points, such as the local burrito place, or credit at the company store. Online retailer For lower-paid employees, rewards such as gas money, bus passes, and local restaurants, are especially appreciated. Major non-profit organization More highly compensated teams valued experiences that connected them to their careers or team members. A substantial portion of points goes to charitable donations, and there are requests to do more and more of this. Our charitable donations are much higher than the average and fit with our culture. Multinational advertising agency People like the custom experiences: coaching sessions, lunch, or a round of golf with an executive. Insurance company

7 PROVEN ROI EMPLOYEE ENGAGEMENT 7 EXECUTIVE VISIBILITY AND LEVERAGE YouEarnedIt has the greatest value in organizations where executives actively participate in the solution. Participation took a variety of forms, from monitoring the live feed or checking out the Brag Reports to giving on-the-fly recognition via the app. These tools also resulted in rewards being more evenly spread out among employees. Instead of the same superstars getting recognized over and over, quiet but capable employees gained greater recognition, which can lead to improved job satisfaction. Our CEO has the app on her phone. I ve seen her give points in real time in a meeting in front of the team that did the project and in front of another manager. Financial software provider Sometimes employees are responding to things that I didn t even know were going on. I feel like a spy. Online retailer Executives are seeing employees at all levels recognized for their work. Credit union n different locations, YouEarnedIt gives real- YouEarnedIt is a secret way that we keep track of goings on in the office and get insight into who to tap for specific projects. Multinational advertising agency

8 PROVEN ROI ORGANIZATION-WIDE IMPACT 8 PROVEN ROI Organization-wide Impact In addition to the broad range of experiential data, companies are discovering measurable results in multiple ways across their organizations. The impact can be quantified in areas ranging from time savings and higher program utilization, to improved project success and better adherence to brand identity. Before, we were wasting time chasing down employees to ensure they completed training. Financial software provider The cost savings and better usage of HR staff time saved an average of Before, managers would want to recognize someone, but it took a 30-minute planning conversation each time. Direct sales company 5 hours a month It s so much easier and faster to send acknowledgment on YouEarnedIt than drafting an , thinking of what managers to cc, etc. that can take 20 minutes every time. Enterprise marketing platform / OR weeks a year

9 PROVEN ROI ORGANIZATION-WIDE IMPACT 9 FINANCIAL SAVINGS AND CONTROL Companies also experienced savings by replacing costly and ineffective programs with targeted rewards from YouEarnedIt. We used to give away company swag; now they have to earn it! It saves us a couple of hundred dollars, and people actually wear it more because they are proud of it. Financial software provider We eliminated a wellness program then repurposed that budget for YouEarnedIt, where we can focus on programs that drive our business. Financial software provider The cost of employee rewards programs decrease up to 30% when moved to YouEarnedIt. Before implementing YouEarnedIt, many companies found that every manager had a different philosophy of employee recognition or none at all. This siloed approach made costs unpredictable and often felt unfair to employees. YouEarnedIt gives businesses better consistency and financial control over reward programs: Now employee rewards are budgeted for the whole organization, instead of everyone doing what they want. It s all in one place, and we can quantify how much are we spending. Direct sales company We save on gift cards and payroll taxes, and it s a more efficient, streamlined process. Credit union

10 PROVEN ROI PARTICIPATION 10 PROVEN ROI Program Participation In the past, many companies surveyed had invested significantly in employee programs, only to be frustrated by low participation and limited awareness that the program even existed. The most immediate impact of implementing YouEarnedIt was to increase participation in the recognition program itself. As YouEarnedIt altered both manager and peer-to-peer behavior, recognition program participation nearly doubled. Further, participation in YouEarnedIt translates to increased utilization of other corporate programs. Companies experienced up to 50% growth in participation of other corporate programs when they started incentivizing employees with YouEarnedIt points. It makes it much faster to spin up new programs and gain adoption. A 5% increase in employees using our travel program to book trips saves us $50 on each booking. At ten trips a year, that s $500 per employee participating. Enterprise marketing platform We went from 50% of employees using a manual spreadsheet system for recognition to 90% of employees logging into YouEarnedIt at least weekly. Digital marketing company For managers, YouEarnedIt is both a time saver and changes how they think about recognition, because there is more daily awareness of what s going on in people s lives. Managers aren t in the weeds just trying to remember birthdays. Now they have the capacity to go above and beyond. Multinational advertising agency We have a medical health risk and wellness program through our insurance company. A YouEarnedIt Behavior Bonus immediately increased employee participation from zero to 20%. Direct sales company

11 PROVEN ROI STRATEGIC AND CULTURAL GOALS 11 PROVEN ROI Strategic and Cultural Goals The measurable benefits on YouEarnedIt can go far beyond direct program participation and impact Key Performance Indicators and high-level goals for the entire organization. Since the companies using YouEarnedIt vary dramatically, so do their goals and KPIs, but as YouEarnedIt becomes deeply ingrained in the corporate culture, its impact is felt throughout the organization. Companies saw a There s less complaining about clients and projects because the feed continually shares positive updates, which influences attitudinal behavior and impacts efficiency. Digital marketing company 10 % growth in participation of Behavior Bonuses have generated a tremendous change in how we talk to clients, educate, and provide services. We ve assigned points values to different services we provide and have seen a significant increase in profit on selected services. Veterinary hospital other corporate programs when they started incentivizing employees with YouEarnedIt points. Many companies use YouEarnedIt to encourage and reward employees for Living the Brand or becoming active brand ambassador.

12 PROVEN ROI STRATEGIC AND CULTURAL GOALS 12 AMPLIFIED COMPANY CULTURE We wanted a platform for recognizing employees who are living the brand promise. We ve been surprised by the amount of recognition and overall morale boost that comes from being thanked for things you do on an everyday basis. Credit union Our company is all about the environment and reducing the use of chemicals in the home, and it s important that everyone walks the talk. YouEarnedIt has been a huge factor in that. With a Behavior Bonus for picking up ten pieces of trash a week, our employees picked up 25,000 pieces of trash a year. Direct sales company We reward employees for donating to [our organization] and sharing on social media as brand ambassadors, and donations have gone up. Major non-profit organization Being known as a business that values its employees is a vital part of a company s brand message, but YouEarnedIt customers are just beginning to leverage the promise of YouEarnedIt during recruiting and increases in retention of the employees who are most invested in the company mission and brand.

13 PROVEN ROI STRATEGIC AND CULTURAL GOALS 13 RETENTION AND RECRUITING It has tipped the scales in our favor on more than one occasion. Since 2012, we ve had about ten instances where YouEarnedIt was a big factor, and they tend to stay. These are the kind of employees you want. Digital marketing company I overheard one of my employees talking to a friend outside of the business about YouEarnedIt. Veterinary hospital Candidates want tangible proof that we are doing something about engagement Direct sales company In a 200 person company, 1-2 applicants say yes to a job offer every year specifically because of what YouEarnedIt tells them about their potential employer. Furthermore, these candidates come as employees who prioritize cultural fit, are highly engaged, and show greater commitment to the organization.

14 PROVEN ROI CONCLUSION 14 Conclusion YouEarnedIt customers experience a wide variety of benefits, both quantifiable and observed. Concerns regarding employee engagement and communication were a significant driver in the majority of purchases, and YouEarnedIt impacted engagement across the board. Companies with inconsistently applied rewards programs experienced the greatest cost and time savings for both HR and individual managers. YouEarnedIt helped them quickly implement company-wide recognition programs. And once YouEarnedIt was in place, participation in both peer-to-peer recognition and other company programs skyrocketed. Finally, as YouEarnedIt becomes more deeply ingrained in the company culture, strategic goals are also impacted. Whether measured in project efficiency, better customer service, or employees who were living the brand, YouEarnedIt changed the DNA of these companies for the better. About Fidelio Works LLC Fidelio Works LLC is a boutique product management and marketing firm based in Austin, Texas. We work with companies across the technological spectrum to define their product direction, value proposition, and market positioning. About YouEarnedIt YouEarnedIt is the employee experience platform powered by the science of motivation and the mission of improving the lives of employees everywhere, one company at a time. Our company and technology are built on the four pillars of employee experience: connection, meaning, impact, and appreciation.

15 PROVEN BENEFITS AT A GLANCE 15 YouEarnedIt Proven Benefits at a Glance 100% of customers report higher employee engagement 30% decrease in cost of employee rewards programs 5 fewer hours spent on employee recognition efforts No-cost, experience-based rewards rewarding experiences tailored to your culture Customized rewards by team, department, or office At-cost rewards YouEarnedIt does not profit from your catalog Quick, easy rollout Average 3-4 weeks to launch Double the participation in employee recognition programs 10% increase in success metrics Up to 50% growth in corporate program participation YouEarnedIt helps you increase employee engagement, amplify company culture, and improve bottom-line results. Request a demo