Takatack Rewards aid in nurturing millennial talent
Voyager Innovations introduces digital employee incentives system for BPOs, enterprises
Voyager Innovations, Inc. announced today a new digital employee rewards and incentives system that is helping business process outsourcing (BPO) firms and other enterprises respond to the changing workforce landscape, which is increasingly being dominated by the “millennial” generation.
Dubbed “Takatack Rewards,” the new system is intended to simplify human resource incentive programs by enabling enterprises to credit rewards to the “electronic wallets” of employees in real time, allowing them to use the value for purchases of items on Takatack.com, one of the largest online marketplaces in the Philippines, anytime and anywhere.
“Studies have shown that increasingly, millennials prefer to bring technologies and tools they use in their personal lives into the workplace,” said Mitch Padua, VP for Digital Commerce at Voyager, referring to a “Millennials at Work” study conducted by PwC in 2011.
“This is true for the smartphones they use, to the social networks they often visit. They’re also already familiar with digital commerce. Through Takatack Rewards, companies can bring the benefits of online shopping–which is readily embraced among this demographic–to their rewards and incentives programs at work.”
Millennials–or the segment of the population aged 18 to 34 years old–are predicted to make up 50% of the global workforce by 2020, according to the same PwC study. This has prompted corporations to begin adapting to this changing face of the workplace in order to retain key millennial talent.
For enterprises, this digital rewards system aims to be a cost-effective and more efficient alternative to the physical gift certificates that are traditionally given as incentives to employees that achieve their company’s performance standards.
With this digital employee incentives system, employees no longer need to personally claim their physical rewards with their HR departments as the Takatack Rewards system facilitates email and SMS blasts to notify that their Takatack e-Wallet accounts have already been credited.
On top of this, Takatack Rewards enables flexibility and choice in redemption of the company rewards, because they are free to choose and shop for the rewards and items that are most relevant to them.
Nurturing ‘millennials’ in BPOs
Growing and keeping millennial talent is a key challenge among Philippines enterprises, where 4 in 10 Filipino millennials expect to move out of their current workplace in the next two years, according to a 2016 Deloitte Millennial Survey.
This is especially true for BPO firms, an industry characterized by attrition rates as high as 20% in 2014, and where most millennials often see themselves working after graduating from school.
SPI Global, one of the largest and leading technology-enabled Business Process Outsourcing solutions provider, has adopted Takatack Rewards for their Employee Incentive Program.
Juan Paolo Suarez, SPI Global’s Senior Manager of Employee Engagement, explained, “Our employees, specifically those in the millennial age group, expect recognition for every job well done. That’s why we’ve been actively promoting an employee rewards programs that would keep them engaged and motivated to perform better at work.”
“With the Takatack Rewards system, we can now conveniently credit the rewards of our employees in their e-Wallets real time and let them experience the rewards they deserve from the thousands of products and services of Takatack.com, 24/7 in the convenience of their homes or in the office during breaks” Suarez added.
Takatack Rewards, however, is not limited to distributing Takatack e-Wallet credits. The platform can also be utilized for loyalty programs and other e-Wallet services that allow employees to receive more credits and enjoy a variety of shopping selections, not just for rewards and incentives programs. It is currently being enjoyed by employees of several large companies and business process outsourcing firms. To know more about Takatack Rewards, visit https://www.takatack.com/pages/rewards.
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