There are many excellent rewards and recognition companies in Singapore – and for good reason. The process of creating and maintaining effective reward programs is vital to the success of any organization.
Many businesses – large and small – understand the importance of rewarding employees; however, implementing and maintaining these programs can be daunting, especially for companies with no experience in this area.
Fortunately, (and perhaps more so than in many parts of the world), Singapore understands this. As a result, there are plenty of excellent services available to help business increase morale, promote productivity and increase retention.
Today, we will examine what Xoxoday has to offer organizations in Singapore and throughout the world.
Like most rewards and recognition companies in Singapore, Xoxoday started small. Founded in 2012 under the name Giftxoxo, we actually originated in India. Giftxoxo’s reward strategy revolved around employee experiences.
In 2015, we introduced Frogo, our customer experience-based reward program until rebranding ourselves in 2016 as Xoxoday.
Since then, we expanded to not only cover employee gifts and experiences, but also gift vouchers and an enterprise software as a service (SaaS) reward system
We now serve over 800 clients around the world.
Benefits of Rewards and Recognition Programs in Singapore
One of the reasons we entered the rewards and recognition programs in Singapore market is because of their demand. In terms of employee engagement, Singapore continues to experience a crisis.
The most recent 2018 engagement research shows that Singapore’s engagement level is the lowest in the entire Asia Pacific market, remaining unchanged from last year at only 59%. Meanwhile, the rest of the market experienced a three-point increase.
One of the biggest challenges facing businesses is the shift in focus among millennials. 10.6% of new graduates opt to do freelance or part-time work, thanks to online income sources. The fact is that the established “nine-to-five” job schedule is becoming increasingly less appealing.
Concerning as it may be, this makes perfect sense. While previous generations valued pay and job security, younger people are more interested in finding work that feels rewarding and allows personal flexibility. In other words, they want free time to enjoy life, and are willing to accept lower-paying jobs – or take the risk of self-employment – in order to achieve this lifestyle.
Young workers also tend to put less value on tenure. While it was not uncommon for their parents to spend decades – if not their entire working lives – in a single organization, youth “job hop” in search of new opportunities and challenges.
The only solution is to make jobs rewarding enough to keep workers – young and old – loyal and happy. Rewards and recognition companies in Singapore play a key role in supporting this goal.
How We Work
As one of the few rewards and recognition companies in Singapore, Xoxoday offers a broad range of service to keep employees engaged.
The system is simple. First, eligible employees have a variety of reward categories to choose from, such as discounts, vouchers gifts, and experiences.
Next, they select their choice from our enterprise portal, which delivers the reward voucher via e-mail or text message.
Finally, workers use our redemption portal to obtain their reward, at which point they can also offer feedback.
Our system offers a variety of useful features that make it stand out among other rewards and recognition companies in Singapore. These help streamlines the process and offers detailed monitoring for managers.
The system allows managers to instantly reward their employees through its online portal. Simply use the hierarchy controls to acknowledge and award workers.
Instant recognition is essential. When an employee shows initiative, quality of work or behavior worth noticing, rewarding them immediately helps reinforce the activity while it is fresh in their mind. Waiting months or even a full year to provide recognition is not as effective at increasing repeat behaviors.
Xoxoday’s web-based platform makes it accessible from any computer, tablet or smartphone. This helps keep employees up-to-date at any time.
Managers can also assign rewards and recognition from any location, again taking advantage of instant satisfaction.
The Power of Choice
Many organizations limit their rewards, either choosing a very narrow set of options or limiting choices based on location.
Xoxoday partners with providers across the globe, allowing employees to access a worldwide catalog. Consequently, they are guaranteed to find something that motivates them and – more importantly – keeps them coming back for more.
Sense of Community
Cohesion is an important ingredient of employee engagement. When staff works toward a common goal, productivity and overall satisfaction go up.
Our system allows the creation of user groups, where people can join based on common factors. For instance, departments can team together or people might create miniature “clubs” based on common interests associated with the rewards.
Keeping employees posted on the day-to-day activities of the organization is essential when trying to create a sense of belonging. To that end, our system offers access to newsfeeds, announcements, and notifications to ensure everyone remains informed.
Comments and greetings are also options that give staff members the opportunity to interact with the business and each other. It makes the difference between feeling like they matter and simply working as anonymous commodities in a veiled machine.
Badges and leaderboards keep employees informed on their progress, while also fostering friendly competition among their peers.
Evaluating the system’s effectiveness is critical. Our platform offers endless customizability and the ability to generate data, displayed in a simple dashboard. Managers can then determine if any areas are lacking and make the necessary adjustments accordingly.
Long Service Awards
Xoxoday also provides important long service awards that other rewards and recognition companies in Singapore often overlook.
Again, older generations tend to value tenure. Retaining youth is the aim here. When millennials spend a large amount of time in a given job, boredom and stagnation tend to grow. Unaddressed, these individuals will eventually leave in search of more attractive opportunities.
The key here is not just to provide material rewards, but also offer a sense of satisfaction that makes employees at all levels feel valued.
The system functions in a similar fashion to our standard rewards and recognition platform. The human resources department selects the recipient based on their tenure.
Next, the individual receives a special “experience box,” which is good for any reward of his or her choice. The box’s packaging can be tailored to the person, adding an extra element of personalization that resonates with the employee.
Once they receive the package, the person uses the Xoxoday website to choose their preferred reward, redeem it and provide feedback.
Obviously, administering such a system is a complex task. To facilitate this, our dashboard allows management to track shipments and control deliveries.
We also offer reports and analytics to track a variety of systems statistics and functions.
These partnerships also provide us with over 10,000 different vouchers, gifts, and experiences throughout the world.
How Xoxoday Can Help
Xoxoday understands what it means to be among the best rewards and recognition companies in Singapore. The services we provide will help foster a culture of teamwork and positivity while promoting overall engagement. Clients can also expect better retention due to an innovative approach to long-standing service awards.