Straight from the heart!

5 February, 2013

Rewards and Recognition Trends

Focus Areas » Managing and Rewarding Performance »

Three big questions on total rewards

Feb 4th 2013

 

vikramIn order to formulate an effective total rewards strategy, companies need to have a structured approach. Answered below are three questions that need to be answered to create a competent and progressive rewards and recognition plan.

What are the categories of rewards and recognition?

Rewards & recognition programmes can be classified in multiple ways, largely depending on their target segments, structure and micro-objectives. Some of these are “time based recognition awards”, “instant gratification” oriented awards such as spot awards, job well done, smileys or stars, a pat on the back, etc, “functional excellence awards” for exceptional performance, and “engagement based” rewards for occasions such as birthdays etc.

Other common forms of R&R categories are “individual” or “team” based awards; rewards based on the target segments such as “employees”, “customers” or “channel partners” reward programmes and even as the name suggests: “monetary” and “non-monetary” R&R programmes.

What are the current trends and how much do companies invest in rewards and recognition in India?

Over the years, corporations in India have recognized the importance of reward, loyalty and incentive programmes, which directly impact revenue, retention, product adoption and overall health of a business. While airlines, banks and retail companies were early adopters in this category, reward programmes have been largely absent or simply ad hoc in many traditional blue-chips and SME’s. Consequently, such programmes are becoming more structured, gaining earmarked budgets and resources and increasingly being outsourced to experts.

Now, recognition is social. Our RewardsPLUS engine provides an intra-departmental social recognition platform, which allows employees and channel partners to see their counterparts being rewarded and personally congratulated, on a common online medium. Many technology companies, which have in-house reward programmes, are further integrating the social recognition element with specialized product catalog providers on the intranet, Internet and mobile applications.

What motivates employees in India and what are the prevalent strategies for R&R?

A large part of employee attrition is attributed to lack of recognition in workplace. Though many leaders pursue recognition strategies, there is still a high degree of dependency on the immediate manager to execute towards building such a culture. There is thereby emerging popularity for technology led social recognition programmes, which drive uniform and syndicated usage, eliminate “favoritism” and yield high excitement among the workforce. Recognition is as simple as saying ‘Thank you’ or as elaborate as a formal felicitation at a company event. Increasing number of enterprises now provide a “suite” of products, including company’s own branded merchandize, for their employees to redeem from their accumulated recognition points.

Vikramjit Singh Sahaye, Marketing and Operations Director, benefitsPLUS

As published in PeopleMatters

7 March, 2012

24hours on the Net

Filed under: Consumer,Internet,vikramjit sahaye — Sahaye @ 10:16 am
Tags: , , ,

294 Billion emails are sent every day. This would take the US Postal department (One of the largest in the world) TWO Years to process!

Internet is touching our lives in intense ways, like never before. Here’s a very interesting Infographic on what goes on in “A day on the Internet”

 

Wonder how this looks for India.

 

6 June, 2010

In loving memory of my Dad

PapaIn loving memory of my Dad

Mr. R.S.Sahaye IPS

(16th January, 1945  –  9th June, 2000)

Your life was a blessing, your memory a treasure,

you are loved beyond words & missed beyond measures!

Barely a year after his birth in Lahore (1945), this infant was torn between the partition of India and Pakistan. He survived the onslaughts and migrated to Punjab with his parents to start a new life. He grew up to be a brilliant student and one of the youngest among his fellow classmates in Ludhiana, Punjab. Son of an Engineer, he often topped the university in academics and started teaching as a lecturer in English (1965-1968). He was a prankster, yet simple & honest at heart, who was destined to do bigger things in life. He Mastered in arts with English as his subject and was very fond of reading the likes of Robert Ludlum, Agatha Cristie and Ian Fleming among others.  He also enjoyed listening to the Beatles, Abba, BoneyM and Indian legends Mohd. Rafi and Jagjit Singh as his favorites.

A little reluctant for lack of preparations and some insistence by his brothers, he gave exams for the élite Indian civil services and got selected with a very high score.  He went on to join the Indian Police services in July, 1968. Apart from the stringent training schedule at the Police academy in Mt. Abu (Rajasthan, India), he took special interest in cultural activities and was quite popular among his batchmates for his skills, wit, singing and above all a very jovial nature. He put his heart and soul in the profession and became known for solving highly complicated & sensitive cases in his career. He was the 1st Superintendent of Police (SP) for East Delhi District and was later the chief of detectives at the Crime Branch of Delhi Police (DCP), where he created a record for the longest and most successful tenure in the department. He consistently got a Distinction in ACR’s (Annual Confidential Reports) throughout the career and was awarded the Police Medal for Meritorious services (Republic Day, 1984) and later the President’s Police Medal for Distinguished Services (Independence day, 1992),  the highest police honor in the country. His reputation of being a thoroughly upright, effective and non-political  nature, sought him both – accolades (for those who valued his work) and many frequent transfers (for whom he was more of an “Inconvenience”).

Throughout his tenures, he always kept his family close to his heart and took them along wherever he was posted, be it the Andaman & Nicobar Islands (first as ASP in 1971-72 and then again as IGP in 1990-91), Chandigarh (1977-80) or even while he became the 1st Director General of Police (DGP) of Goa (1999-2000). His intense loving, protective, selfless and caring attitude towards the family was astonishing, considering the round the clock working hours and dealing with many hardened criminals at work. He was also a very religious, disciplined, grounded, practical, diligent and a farsighted person who never allowed his children to go astray with all the power.

He passed away at a very early age of 55 years with a massive heart attack, while at the peak of his career but left behind his uncompromising values and ideals that guide us to live with humility and self-respect. Today, ten years have gone by without him and we can still feel his warmth and love around us.

I now, firmly believe that taking care of your loved ones (especially parents) is true religion. We often pray to a God, we’ve never seen and overlook the unrelenting love and sacrifice that our parents have given for our future. If only, I had that one extra moment with my “Papa” and seize it forever.

27 May, 2010

BOOM, Apple beats Microsoft

History was being written yesterday … when by 4 p.m. NY time in NASDAQ Stock Market, Apple’s market value was at $222.1 billion, higher than Microsoft’s $219.2 billion. It’s also the second-largest U.S. stock by market value, behind oil company Exxon Mobil Corp., valued at $278.6 billion on the New York Stock Exchange.

A New World Order has arrived…

Apple Incorporation became the Most Valuable Technology company in the world, pipping Microsoft Corporation, which held the crown for very many years.

Culturally speaking, this is a strong indication that “Consumer tastes” have overtaken the “Business needs” as the leading force shaping technology.

Apple: A Stunning turnaround

Apple was on the verge of bankruptcy when Steve Jobs assumed  leadership in 1997. So much so, Michael Dell suggested that Apple should just shut shop and return the money to shareholders. Today, Dell is worth barely a tenth as much as the Mac maker. In the very same year, Apple accepted a $150 million investment from Microsoft in distress.

Steve transformed Apple from the maker of Macintosh personal computers into a trendsetter in consumer electronics with the release of  iPod music players in 2001 and made the popular Sony personal music instruments go virtually extinct. Then came the iPhone in 2007 which upset Nokia in a big way. The latest mega release of  the iPad tablet in April this year is again beating Apple’s own projections and sold more than 1 million tablets in the U.S. in the first 28 days after its April 3 debut which is interestingly, Double of their iPhone sales in its 1st month of  launch.

Microsoft: Betting big on the Cloud?

Both companies have comparable revenue, with Microsoft at $58.4 billion and Apple at $42.9 billion. But in their most recent fiscal years, Apple had net income of $5.7 billion, while Microsoft earned $14.6 billion. Microsoft still leads the race with nearly 9 out of every 10 new computers sold, whereas Apple’s Mac is less than 1. Microsoft has poured billions into its cell phone, online advertising and other new businesses that have yet to emerge as significant revenue streams.

The next battle for businesses, amongst Tech Titans is foreseen in the Clouds – and literally so. Microsoft’s banking big on Windows Azure and the launch of Office 2010 & Office Web Apps are paving the way as against the Google Apps engine. Cloud computing is projected to create over 300,000 jobs in India alone and provide the subcontinent another advantage for managing the world’s back office.

As for the users, Apple helped create “The best desktop computer”, “The best portable music device”,  “The best smart-phone and now also “The best tablet PC” and …. it’s not yet done with innovations !

11 May, 2010

Goggles by Google

Imagine you a are pure vegetarian, traveling to Tokyo, want to pick up a fancy looking food-item from a local store but can’t really make out what the label reads . You reach out to the store attendant who cannot speak in English and you don’t know what to do. Imagine you’re rushing to find a toilet in Moscow, but cant figure out what the label on the door means and passerby’s neither have the time nor the will to guide you. Imagine the same while buying a medicine from a local chemist in a small by-lane of Paris or even visiting a landmark building, unable to recollect its name or significance.

I’m sure you could relate to so many such anxious situations.

All you need to do is take a picture from your mobile phone and you’ll get the answer, instantaneously.

No kidding! Google has introduced the next level of innovation to make our lives easier, called Google Goggles.

Google Goggles a new way to search by sight, with your mobile phone’s camera.The latest version has built-in translation capabilities. Earlier, one could either type or call for a local query, Google has opened a completely new dimension in Local search.

Here’s how it works:

  • Point your phone at a word or phrase. Use the region of interest button to draw a box around specific words
  • Press the shutter button
  • If Goggles recognizes the text, it will give you the option to translate. Press the translate button to select the source and destination languages.


That’s not all, in addition to Text, it supports ‘landmarks’, ‘images’, ‘books’, ‘contacts’ (visiting cards), ‘Artwork’ & ‘logo’s’

So, just how does Google collect such detailed information for Google Maps?

Primarily, by using Street View cars!

The feature provides users 360° horizontal and 290° vertical panoramic street level views within Google Maps. Google collects these images using special cameras usually mounted on vehicles and equipment that capture and match images to a specific location using GPS devices. Once the images are captured, they are “sewn” together to create a 360° panorama. Faces and license plates are claimed to be blurred before the panorama images are served and become viewable in Google Maps.


Update (16th May 2010): Google says Sorry for Privacy violation


Seems Mr. Pegman wanted more than just pictures!

Google’s Street View cars have been capturing more than just images and co-ordinates. They even captured personal information from unprotected Wi fi connections. Google announced that it is profoundly sorry for the mistake and didn’t realize this depth of data collection due to a communication gap between teams who were programing and executing, but promises to mend ways. The extent of damage goes beyond 30 countries where Street View cars were used and Google is said to have captured personal information such as PC details, email snippets, images, etc. They claim to stop collecting Wifi information with immediate effect for now and are putting in a 3rd party based governance model to avoid any such future blunders. The reactions have started pouring in from all quarters. Greece has already gone a step ahead and blocked Street View unless some guarantees are put in place.

Privacy jitters, anyone?

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