IRR Industry Update...Recent Funding...Perks Changes...Growing Recognition Trend?
Here’s a roundup of recent news in rewards and recognition.Another Reward App Gets Funding
CNBC Report—Airlines Cut Back on Perks, Retailers Focus on Big Spenders
5 Companies With the Best Employee Recognition Programs Focus on Performance, Not Longevity
Onward, a recognition app platform, receives funding...Airlines, retailers cut back on perks...Is recognition increasingly focusing on performance? Maybe.
Another Reward App Gets Funding
Onward, a California-based startup focused on building Atlassian Marketplace apps for Jira Software, Jira Work Management, Jira Service Management to “reimagine workforce engagement,” has secured a strategic seed round investment from Atlassian Ventures. It says the funding will be used to accelerate Onward's application development and scale its sales and marketing efforts. Giresh Reddy is Co-Founder and CEO.
Onward says its peer recognition and rewards management application is tailored for service delivery teams.
Atlassian Ventures is said to have “a strong track record of supporting companies that are developing best-of-breed apps to help power the future of teamwork and collaboration. Onward aims to leverage this investment to accelerate its growth trajectory and deliver even greater value to mutual customers.”
CNBC Report—Airlines Cut Back on Perks, Retailers Focus on Big Spenders
This recent report on CNBC reports that airlines have begun to cut back on some of the benefits offered in frequent flyer programs while some major retailers are aiming their generosity at biggest spenders.
5 Companies With the Best Employee Recognition Programs Focus on Performance, Not Longevity
Marking the increased shift of recognition away from traditional length-of-service programs, this recent article by Rose Velazquez, a writer for Builtin, a media platform for tech firms and startups, singles out these companies for having “employee recognition programs that take the time to reward team members for meeting goals and embodying organizational values.” The companies are Mars, Merck, Workhuman, FullContact, and Paychex.
She writes, “An employee recognition program gives company leaders and managers a chance to reward team members for meeting their goals and demonstrating their commitment to the organization. It’s an employee engagement strategy that can also allow for peer-to-peer acknowledgements.”
RRN: Your Partner in Success in Incentives, Rewards, and Recognition
Published by the Enterprise Engagement Alliance at TheEEA.org- The only weekly news, how-to and resource publication of record for the Incentive, Rewards, and Recognition field.
- The only marketing agency focusing specifically on the IRR and broader engagement marketplace.
The Industry’s Only Combined Media Platform and Marketing Agency to Help You Expand Your Business
- All the industry news, research, announcements, and how-to articles read by over 20,000 end-users in sales, marketing, and human resources; incentive, recognition, loyalty and promotional companies, as well as marketing and human resources agencies, seeking to enhance performance through effectively designed incentive programs.
- Unparalleled business development services for engagement, incentive and incentive travel, recognition firms; brands, gift cards and master fulfillment companies, and technology firms, featuring ROI-based business development strategy design and ongoing digital and social media and e-newsletter communications to help marketers profit in the coming era of cookie-less marketing.
- Unique abilities for solution providers to sponsor authoritative, evergreen content directly related to what they sell through the EEA’s Effective Practices series on articles in our media platforms.
- EEA YouTube Channel with over three dozen how-to and insight videos and growing with nearly 100 expert guests.
- Access to new technologies from EEA preferred solution providers enabling brands to create their own points-based or transactional redemption site.
- Unparalleled expertise in program design, return on investment measurement, reporting, and prescriptive analytics.
Outreach to Enhance Industry Awareness
The EEA is dedicated to helping address the fact that the IRR business remains a little-known industry.
- The Association of National Advertisers education effort reaches the CMOs of almost every leading brand to promote our industry and the importance of program design through created for their members.
- The Brand Media Coalition has led the way in helping brands better tell their stories for use in incentive, recognition, and loyalty programs, and to actively promote the importance of the reward experience and buying through industry channels.
- The Enterprise Engagement Alliance is assisting companies with the upcoming Corporate Sustainability Reporting Directive, which includes details on the practices and metrics involved with employee and customer engagement.
Promoting Effective Program Design
- The EEA provides comprehensive and growing library of concise, research-based resources to promote serious ROI-based thinking, including the importance of the reward experience.
- Join the Enterprise Engagement Alliance to master the processes of enterprise engagement, stakeholder management and reporting, or contact the EEA to get expert assistance on strategy design, implementation, and reporting.
RRN: Your Partner in Success in Incentives, Rewards, and Recognition
Contact Bruce Bolger at 914-591-7600, ext. 230 or email Bolger@TheEEA.org when you want to get to know or get known in this growing $1.76 billion marketplace.
