Inspiring Brand Advocacy

How a Financial Services Firm Revolutionised Recognition Across the Globe

Executive Summary

A leading financial services firm headquartered in Singapore, committed to becoming the foremost digital bank worldwide, partnered with BI WORLDWIDE to launch its first formal global recognition programme. Using the DayMaker recognition platform, the initiative included peer-to-peer digital recognition, e-nominations and marketplace rewards.

Key Snapshots

81%

participation rate in year one

91%

participation rate in year two

43,000+

participants across 18 countries

The Situation

Ensuring consistent recognition in a global organisation

A prominent financial services firm headquartered in Singapore aspired to establish itself as the foremost digital bank globally. Despite this commitment, the firm lacked a formal global recognition programme. The only existing initiative, a Spot Award, was inconsistently implemented. Participating was also too tedious, which hindered the employee experience.

The Challenge

Implementing a unified, digital recognition system

The firm needed a comprehensive, automated recognition system that could be deployed across its global operations. The main challenge involved designing and launching a programme that was able to engage 43,000+ employees across 18 countries, while still ensuring consistency and compliance.

Additionally, HR committed to a launch by the end of Q3, but BI WORLDWIDE was only brought in near the end of Q2. This tight timeline required collaborative efforts from multiple teams across the globe to meet the ambitious deadline.

The Solution

Reimagining employee recognition

BI WORLDWIDE customised its recognition solution according to the specific needs of the firm, featuring three key components:

Peer-to-peer digital recognitions: Employees could recognise each other’s efforts with digital cards.

E-nominations: Employees could nominate colleagues for monetary awards and rewards points, approved by managers with allocated budgets.

Marketplace Rewards: A range of rewards, including merchandise and experiences, could be redeemed by employees with their accumulated recognition points.

The solution seamlessly integrated into the firm's internal staff app, making it easily accessible on mobile devices. BI WORLDWIDE also created company-specific e-cards and e-badges to align all reward schemes with the firm's values. An award-points system allowed the firm to run various ad-hoc programs, such as departmental goals, holiday promotions, and special recognition during events like the COVID-19 outbreak, all while ensuring compliance.

The Results

High participation and enhanced engagement

The customised recognition solution launched successfully at the end of Q3, engaging 27,000 participants across 18 countries in Asia Pacific, Europe, the Middle East, and North America. A comprehensive communications campaign, featuring a CEO video message, environmental elements, push campaigns, and mascots, supported the launch.

81% of staff received recognition at least once, surpassing BI WORLDWIDE's year-one best-in-class benchmark of 68%.

Participation grew to 91% in the second year, with active involvement from top and middle management cascading throughout the organisation.

The programme has consistently grown over the years to engage over 43,000+ employees today.

By implementing a strategic approach to employee recognition through our DayMaker platform, this financial services firm successfully engaged its global workforce and fostered a culture of recognition across its organisation.

Get in Touch

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