With the growing importance of talented human resource in every industry, recruiting and then retaining the employees in the organization while keeping a tab on the budgets has become quite challenging for the employers. It has now become quite a global fact that exclusive rewards and recognition programs in the company lies among the top motivating factors for the employees.
In order to ease the problems of the employers in assessing and rewarding the right employee, Bangalore based startup HiFives, has recently launched a new update as a ‘collaborative’ cloud based service model, in order to help the corporations to incorporate rewards & recognition in organizations.
The platform facilitates online rewards management tool with quick customization and ‘No Installation’ feature along with detailed reporting to track ROI. In order to access the services, a company first need to get a tie up with HiFives after which the company officials can register themselves on the HiFives site.
For rewarding company employees or for giving corporate gifts, a wide category range is available on the HiFives website wherein order can be made using credit/debit cards, net banking, EMI and cheques. It also provides global shipping facilities for corporate gifts through courier and a 24×7 email and phone employee help desk.
Launched in 2010, an initiative of IIT-IIM alumni, HiFives, is working with an aim to ease rewarding and gifting in corporate organizations. It reduces the administrative overheads by handling the complete reward distribution process online right from nominations, approvals and redemption to fulfillment and support.
From recent studies, it has been identified that around 75% of the employees remain unsatisfied with the available reward options while majority do not find their current programs convenient to use. “The HiFives program empowers line managers to reward employees on the fly, enables employees to decide on reward items based on their personal preferences; which are then delivered to recipients anywhere across the globe thereby ensuring complete freedom of choice and convenience.”, said Sagar Chaudhuri, CEO & Co-Founder, HiFives.
HiFives is presently working with global corporations across all key industry verticals and its clients include some of the biggest names globally in healthcare, technology, telecom and services.
Although the initiative seems quite new in Indian domain, the concept took off well globally long back with companies like IncentiveLogic, terryberry, snowfly etc making high in the sector. Also, it has now given the Indian corporates a all new mechanism to effectively manage their valuable human resource. Other such internationally available tool includes Achievers.