“Metaverse & NFTs will Change how Employees Experience Rewards and Recognition” Says Sourabh Deorah – Analytics Insight
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Disclaimer: The information provided in this article is solely the
Disclaimer: The information provided in this article is solely the
Disclaimer: The information provided in this article is solely the
Disclaimer: The information provided in this article is solely the
Employee engagement doesn’t come with a cookie-cutter approach often putting HR managers in difficult situations. Being the most critical factor in ensuring optimum productivity all while keeping their morale high, it becomes more than necessary to look beyond traditional approaches in staff management. Now that software tools are available to ease them out of this difficult job, it becomes all-important that they adapt to a comprehensive employee management platform providing end-to-end services. Advantage Club is a global employee engagement SaaS platform that makes employee engagement and recognition an effortless job. Analytics Insight has engaged in an exclusive interview with Sourabh Deorah, Co-Founder & CEO at Advantage Club.
Advantage Club is a global employee engagement platform driving workplace experience and well-being with features like rewards, recognition, perks, flexible benefits, and community building on a unified platform.
We envision a world where employees are highly engaged and happy, and every workplace, big or small, has a positive culture of appreciation and recognition. We help organizations build and run employee experience and engagement programs that resonate with their culture and values.
We started with an end-to-end reward, recognition, and perks solution to facilitate meaningful employee engagement through exclusive privileges and rewards from our brand partners. The platform allows organizations to grant rewards and recognition to employees for hard work, and major milestones, and manage budgets, nominations, approvals, and social feeds. Over the next few months, we expanded our platform to include other employee engagement offerings such as communities, online game zones, hobby clubs, and classifieds.
We also believe employee benefits should be beyond provident funds, time-offs, and free lunch or game rooms. Benefits must be more meaningful, valuable, and holistic to employees’ unique needs. With this view in mind, we launched several holistic employee wellbeing offerings, such as the Flexible Benefits solution that allows employees to choose what they want category-wise. We have also launched financial wellness solutions such as Early Wage Access and the Advantage Card for Tax Saving, which help employees with their financial needs.
We are today one of the most comprehensive platforms offering solutions for all employee engagement & welfare initiatives.
As a tech-driven organization, we have bold plans to revolutionize the employee experience and engagement space. We are planning a big move on the metaverse & NFTs that will change how employees experience rewards and recognition initiatives. We are building solutions that allow for an efficient solution to bring the best of both physical and virtual approaches together. We have found a product market fit and some early success. We will continue to expand our offering with the ultimate goal of catering to the entire employee lifecycle management.
Our biggest differentiator is that we have an all-encompassing solution in the reward, recognition, perks, and benefits space. Our clients can launch several programs across the employee lifecycle on a single platform, giving them the flexibility to run programs with the least implementation effort. We have a highly modular offering relevant to organisations of varied employee sizes and highly customizable to needs. The other clear edge is that our app and platform experience is the best in the industry, which helps drive employee engagement for our clients. On an average, our clients have seen a 45% drop in attrition among employee cohorts where our solutions have been launched as against the other non-user cohorts.
On the business side, we are looking to expand aggressively in international markets, specifically in North America, the Middle East, and Southeast Asia. We will also double down our effort in penetrating deeper into our current market and client base and winning the mandate for all employee lifecycle management needs.
As a tech-driven platform, we are constantly on the go to help organisations customise the platform and find opportunities to make the offering more relevant. We are using analytics to find early indicators of employee disengagement and help organisations tweak their R&R program or spruce their employee benefits program to cater to unique needs. We are extensively using ML to map user behavior patterns on the platform to offer a unique experience basis their past interactions. From a reporting perspective, we give access to dashboards and numerous analytics to HR managers to help them understand the level of employee engagement and where there might be potential for attrition.
In a world where your location has become irrelevant, the talent market will get fiercer. And this will create intense competition to engage employees in different ways, and consequently, the idea of the benefits will become more prominent. The future is about creating a great employee experience. All the tenets that have been applied around customer experience over the last decade will come into force for employee experience in the next three to four years.
Our biggest achievement by far is the steady increase in employee retention rate amongst all our clients that have launched our programs. Many associations and industry bodies have recognised us including NHRD, World HRD Congress, ET HR, and BW BusinessWorld. Still, the most significant award for me has been the fact that we have never lost a client to date, which speaks volumes about the value we add to our customers.
Disclaimer: The information provided in this article is solely the author’s opinion and not investment advice – it is provided for educational purposes only. By using this, you agree that the information does not constitute any investment or financial instructions. Do conduct your own research and reach out to financial advisors before making any investment decisions.
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