Bangalore – July 19, 2013 – HiFives, a leading provider of cloud based employee rewards management and recognition platform, today announced a collaborative cloud based service model that is helping global corporations transform their employee rewards programs, incorporates completely configurable functionalities and supports industry best practices, catering to the complete spectrum of rewards & recognition in organizations. HiFives offers an end-to-end solution that enables organizations seamlessly manage their entire rewards distribution process online, right from nominations, approvals and redemptions to fulfilment and support, greatly reducing the administrative overheads in managing such programs internally and enhancing employee experience.
“The demographic profile of the current workforce demands maximum freedom of choice, minimum hassles, social recognition and instant gratification, in the reward practices at the workplace. 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. HiFives also enables internal social recognition thereby multiplying the impact of such rewards programs,” says Sagar Chaudhuri, CEO & Co-Founder, HiFives.
Today, when organizations are challenged to drive employee engagement and performance as well as retain top talent while keeping a tab on the budgets, they are increasingly looking at unleashing the power of rewards and recognition programs. The HiFives cloud based platform meets this need by maximizing employee experience and minimizing the hassles for the employer.
Rewards and recognition is an integral part of the talent management strategy of any organization. Rewards programs have been difficult to manage in-house due to the lack of scale and access to industry best practices as well as the day-to-day operational hassles of running such programs. These challenges have restricted the impact of such programs as reflected by the levels of employee satisfaction. Studies show that:
· 75% of employees say that they don’t get enough options in their current programs
· 53% do not find the programs convenient
· Overall, 35% are not satisfied with the programs
HiFives helps organizations maximize the ROI of such programs through a scalable, end-to-end solution that enhances employee choice, convenience and experience on one side and reduces the operational issues for the organization on the other. HiFives bring industry best practices to the table through a feature-rich and configurable technology platform at the front end and a powerful fulfilment engine at the backend. HiFives clients include some of the biggest names globally in healthcare, technology, telecom and services.