Patrick Elalouf, CTOAcknowledging and rewarding employees for good performance has always remained the key employee recognition policy for human resources until now. Rideau, a promising HR tech solution provider, is taking a radically different strategy with employee recognition. With an aim to bring a new curve to the industry, Rideau is pioneering a data-driven approach to recognition.
Rideau piloted its program with a leading financial institution to showcase the viability and validity of its unique approach to enhancing employee performance. The financial institution’s employees were segmented into groups during the nine-month study, leaving one control group that remained untouched. At the end of pilot, the group utilizing Rideau’s methods showed a 7.3 percent increase in sales and 5.8 percent increase in productivity, validating the effectiveness of Rideau’s philosophy.
“What makes Rideau’s recognition approach unique is the use of data to drive the program,” says Patrick Elalouf, CTO, Rideau. The company’s innovative, SaaS-based employee recognition platform, Vistance, coupled with proprietary analytics yields a human capital management solution with measurable ROI at an affordable price-point.
According to Elalouf, recognition programs are no longer perceived as a monetary burden for firms. He says, “Data-driven recognition strategies have the potential to impact an organization’s most important key performance indicators (KPIs).” Utilizing Vistance, a company can influence desired behaviors to create cultural shifts within the company. Rideau’s recognition platform is agnostic to other third-party recognition solutions and do not require HR teams to change their on-going recognition programs. The Vistance analytic tool uses data that the company already has.
Rideau’s platform emphasizes social recognition and strengthens the recognition approach with a blend of rewards and appreciation for the employee’s contributions. VistanceSocial, Rideau’s social recognition tool, identifies the loyalty, dedication, and experience of an employee and their propensity to add value to the team.
Data-driven recognition strategies have the potential to impact an organization’s most important key performance indicators
Vistance also provides insights to senior-level managers about how the managers in their organization rank in terms of skill. Utilizing recognition outputs (RO), Vistance gathers all the data from a company’s social, wellness, and performance recognition programs to measure how employees feel when acknowledged, which Elalouf calls, Recognition Perception (RP). “We also distribute a questionnaire to employees to understand their recognition perception. By collating the results of RO and RP, we determine the recognition quotient (RQ) of an individual,” states Elalouf. With the RQ score, Vistance can identify specific managers whose teams are not performing well and prescribe specific learning modules to help close the gaps and enhance the manager’s, and ultimately the team’s performance. “Our learning modules are individually prescriptive, succinct and respectful of the manager’s time. The average module takes 10 to 15 minutes to complete,” he adds.
Vistance Solutions also offers a points-based incentive system. Elalouf explains, “The points system effectively solves currency discrepancies that exist between various countries and affords the opportunity for global companies to have a truly universal recognition program.” The points are accrued and redeemed by the employee according to a country’s currency exchange rate.
Today, Rideau’s Vistance Analytics and Prescriptive Learning have brought about a paradigm shift to how employee recognition is viewed by senior executives. With years of scientific research to validate their findings, employee recognition is now understood to be a viable and necessary component of a company’s successful strategic plan. Rideau intends to continue to help solve the dilemmas of human resources professionals by developing the products and services that will lead to be better work environments and better bottom-line results.