Reward Gateway launched a platform for small businesses in the UK, targeting organizations with fewer than 100 employees. Available via desktop and mobile app, the product combines employee discounts, recognition tools and well-being features.
The company said the platform can be launched “in minutes.” For £6 per month, it offers:
- Discounts on everyday items.
- Videos, tools and content on physical, mental and financial wellness.
- Recognition tools.
Reward Gateway for Small Business leverages the technology used by the company’s core platform for larger organizations. (Its traditional customer base totals about 1,800 businesses and 4 million employees, the company said.) COO Rob Boland said the SMB product was “designed with today’s small business in mind.”.@RewardGateway launches web, mobile platform for small businesses in the UK. #HR #HRTech Click To Tweet
Analytics for SMBs
In February, Reward Gateway launched an analytics engine called SmartInsights. The package, available on the SMB platform, provides employers with intelligence on overall employee engagement, recognition activity, benefit uptake and social responses.
The company described SmartInsights as a highly visual set of dashboards that makes data digestible to HR leaders and managers. In addition to information on the workforce, the tool includes a manager results dashboard to help identify areas of possible improvement on the team, division or department level.
Businesses spend more than $2 billion annually on engagement solutions, said a Reward Gateway study last year. On the one hand, that money seems to be paying off, since in 2018 Gallup reported the percentage of U.S. workers calling themselves actively engaged rose from 28% to 34%. On the other hand, some 66% of employees remained disengaged, and 1 in 8 were “so unhappy they might undermine your company.”
HCM and engagement platform providers have been increasingly incorporating data into their platforms, tracking metrics on employee engagement, sentiment, peer recognition and social engagement, often melding it with traditional HR transaction and compliance data.
Given the changing dynamics of the job market—with some 40 million U.S. workers on the unemployment rolls because of the COVID-19 pandemic—how much attention rewards and recognition programs will receive is an open question. Many HR leaders argue that even under a flood of candidates, retention-centered programs will remain important as employers aim to hold onto the employees who are, if nothing else, trouble-free.
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Image: Reward Gateway