|
Our Recognition & Incentive Portfolio
See how our clients have successfully utilized our capabilities to motivate key contributors and recognize achievement.
Years of Service Program
A $450 million insurance company with 1,500 sales representatives and 800 employees serving customers in all 50 states wanted to improve employee retention by offering recognition awards for employees to redeem on their anniversary dates. In addition, the company did not want to incur any upfront costs from to the transition from internal administration.
Once objectives were in place, a demographic study of eligible employees was completed and 60 awards were selected to meet these demographic indicators. The entire program - program materials, online redemption site, and print catalogs - was in place in 30 days. Custom reports assured that every eligible employee was recognized and awarded.
Management received positive employee feedback and saw a 12% decrease in turnover while internal administrative time was eliminated. Employees experienced quicker fulfillment of awards than in previous years.
Customer Service Improvement
A financial holding company with over 2,200 financial centers and 60,000 employees is the 4th largest in the United States providing full-service banking. Their objective was to increase company-wide awareness of customer service and improve performance by 15%. In addition, the company wanted to recognize the financial centers that provided outstanding customer service.
Newton implemented a program to recognize employees on three levels of achievement. To minimize costs, awards were packaged by the financial center and sorted by the distribution chain. Award packages were then bundled together and delivered to minimize freight costs. In addition, custom invoicing procedures were developed to reduce administration by the company.
The financial centers achieved the desired service level improvements by increasing the performance indices by 18%. Additionally, the turnkey program management minimized the company’s administrative costs and the comprehensive program reduced award costs by 25%.
Employee Incentive
A supply company, employing over 40,000 employees and serving more than 1,200 offices around the country, wanted a comprehensive rewards and recognition program to incite employee behavior changes. Their objectives were to improve employee retention and reduce absenteeism.
Newton designed an incentive program where employees earned points as performance goals were achieved. Points were reported on a monthly basis to both the employees and management. Employees were then able to redeem their points for selected merchandise.
Employee retention increased 12% and absenteeism declined by 43%. In addition, the supply company realized an increase in average order size from $283 to $317. |