Bill Alexander CEO Red letter Days

1. Three fundamental pillars to building a successful reward programme
Bill Alexander, CEO
@RLDforBusiness

2. WHY... reward campaigns should never be overlooked
Our own research that’s thrown up some very interesting findings
WHAT YOU CAN EXPECT FROM THE NEXT 20 MINS...
WHERE... do I start? Is often the first question asked...
A proven and easy to implement formula that will deliver results
@RLDforBusiness
WHAT... will my results look like?
Case studies that have delivered great results

3. Bill Alexander
CEO at
Red Letter Days
I thought you
should know a
little bit about me...
@RLDforBusiness
1. Built the
Red Letter Days for Business
brand six years ago
2. Launched
Lifestyle high street
voucher in 2013
3. Trained team
to be incentive and
reward experts
4. Our B2B offering will
be bigger than our
consumer arm by 2017

4. WHY.. REWARD CAMPAIGNS
SHOULD NEVER BE OVERLOOKED
Theo Paphitis, joint owner of Red Letter Days
‘Staff are only the sustainable advantage
in your business, everything else can be
copied. Look after your staff and they’ll
look after your customers. Get this right
and the money looks after itself.’
Businesses are finding it increasingly hard to keep staff engaged
79% of businesses have a retention and engagement issue Deloitte 2014
@RLDforBusiness

5. WHY... REWARD CAMPAIGNS SHOULD NEVER BE OVERLOOKED
Research has shown time and time again that
Engaged employees = a better business
Workplaces with a highly engaged workforce grew profits 3x faster than competitors
Proven that engaged employees: (Gallup research)
n Are 21% more productive
n Score 10% higher in customer service metrics
n Have 37% lower absenteeism
n Have, on average, 45% less turnover
CREATING A COMPETITIVE EDGE
@RLDforBusiness
Grow profits
3Xfaster than
competitors

6. {Reveal research findings about engagement here}
WE CARRIED OUT SOME RESEARCH
OF OUR OWN ON ENGAGEMENT...
@RLDforBusiness
WHY... REWARD CAMPAIGNS SHOULD NEVER BE OVERLOOKED

7. {Reveal research findings about the pillars purpose, self-governance and mastery here}
THE THREE PILLARS MOST COMPANIES
ARE FALLING DOWN ON...
@RLDforBusiness
WHY... REWARD CAMPAIGNS SHOULD NEVER BE OVERLOOKED

8. WHERE... DO YOU START?
1 PURPOSE
n Why are you wanting to launch a
reward and recognition programme
in the first place?
n Get the CEO Board committed
n Set a clear aim and goal,
aligned to your vision
PURPOSE@RLDforBusiness

9. 2 EMPOWERMENT
n Design a campaign where
employees can control an
element of the outcome
n Get your employees involved
right from the start, they have
to believe it’s achievable
EMPOWERMENT@RLDforBusiness
WHERE... DO YOU START?

10. 3 MEANINGFUL REWARD
n No carrot dangling allowed!
n Reward with something your
employee will talk about pre,
during and post
MEANINGFUL REWARD@RLDforBusiness
WHERE... DO YOU START?

11. COMMUNICATION
A FOURTH ELEMENT MUST
NOT BE FORGOTTEN!
MEANINGFUL REWARD
PURPOSE
EMPOWERMENT
4 COMMUNICATION
n The element that cements
the campaign together
n Brings it to life!
n Ensure your employees do
most of the communication
@RLDforBusiness

12. WHAT... WILL MY RESULTS LOOK LIKE?
AMEY’S STARS
1 PURPOSE
n Acquired new company with 9,000 staff
n Aim: to promote Amey’s new company
values to all 21,000 staff
2 EMPOWERMENT
n Peer to peer recognition with e-thank you or tangible thank you cards
3 MEANINGFUL REWARD
n £25 STARS Reward cards
4 COMMUNICATION
n Monthly newsletters, company magazine, Yammer, CEO quarterly briefings, Champions Network
@RLDforBusiness

13. ‘The STARS campaign has
successfully motivated
employees in 2014 by
recognising all hard-working
colleagues reflecting our
company’s values. Here’s to
more positive results in 2015!’
Laura Neiland, HRBP Reward at Amey
700 £25 Reward cards
awarded in 8 months
(98% redemption rate)
Reward cards increase
month on month
AMEY’S STARS
THE RESULTS
How to claim your prize
Scratch off the panel below. Visit
redletterdays.co.uk/amey and enter the
code to activate your prize. Follow the
steps to spend your voucher! Please
note: When you log on to the website
you must enter your Amey employee
number, name of nominating manager,
value and objective being rewarded and
a brief description of the award reason.
Terms Conditions - 1. Please protect this card as it contains credit towards your Lifestyle treat. The balance cannot
be returned to you if it is lost or stolen. 2. This card cannot be exchanged for cash and is non-transferable. 3. This
card is valid until 31/12/17. 4. Partner brands are subject to change – see redletterdays.co.uk/amey for a current list.
Our alternative to the high street
voucher gives you instant online
access to a fantastic range of
treats from brands such as...
If you have any queries or need help registering your scratch card,
please contact Red Letter Days on 0845 600 7610
CONGRATULATIONS!
YOU’VE EARNED A £25 LIFESTYLE VOUCHER
Instructions for nominator. please tick the value(s) and objective(s) you have observed. Enter the employee name, brief reason and your name before handing to the employee.
From
Thank you for
To
STARS
900 electronic
‘Thank You’ cards
have been sent
Every company value
has been rewarded
against – confirms
programme is
achieving its aim
CEO included results
in EOY summary

14. WHAT... WILL MY RESULTS LOOK LIKE?
CO-OP HAS THE POWER
1 PURPOSE
n Reduce energy usage and bills
n Raise awareness of energy consumption to staff
2 EMPOWERMENT
n Challenged staff to reduce energy consumption
using best practise methods in stores
3 MEANINGFUL REWARD
n All employees in the winning region shared £50k worth of experience vouchers
4 COMMUNICATION
n Monthly newsletters, in-store posters, creating case studies of ‘meaningful reward’ experiences
@RLDforBusiness

15. ‘This just goes to show what
can be achieved when people
work together. It is great to see
all the work our colleagues in
South Yorkshire put in to help
deliver this great saving for the
Food business. They thoroughly
deserve this fantastic reward.’
The Co-operative’s Regional
Stores Director for the North.
CO-OP
THE RESULTS
Nearly 300 colleagues will be enjoying
their meaningful reward in 2015
All staff across 2,800 stores made
a 2.4% LFL energy saving
Saving equates to 9,218,229 kWh – more
than £900k reduction to Co-op’s energy bill!
Stores are now educated
about energy consumption

16. FINAL NOTE
Employees are the only advantage in a business
Look after your staff and they’ll look after you!
Our research shows most businesses are falling down on the basics
Have you got the purpose, self-governance and mastery balance right?
Remember the three pillars when you launch a reward programme
Purpose, Empowerment and Meaningful Reward
TO SUMMARISE
@RLDforBusiness

17. Visit us on stand XXX and pop your business card in the research box
Come speak to me after this presentation
...FINALLY, INTERESTED IN OUR RESEARCH?
@RLDforBusiness