AI-Powered Revolution in Employee Recognition In today’s era of the Great Reshuffle, where companies scramble to retain talent, employee engagement and recognition programs are no longer a luxury, but a necessity. Advantage Club, a brainchild of Sourabh Deorah and Smiti Bhatt Deorah, is rewriting the rules of employee rewards and recognition with a tech-driven approach.
AI-Powered Revolution in Employee Recognition
From Humble Beginnings to Global Expansion
Sourabh and Smiti, who previously worked as software engineers at Microsoft, witnessed firsthand the positive impact of a strong rewards and recognition culture on employee morale and retention. Inspired by this experience, they launched Advantage Club in 2016, initially targeting SMEs in India.
AI Revolutionizes Rewards and Recognition
Advantage Club leverages AI and machine learning to streamline R&R processes and personalize the experience. The platform automates tasks like milestone notifications and reward updates, ensuring timely recognition. Additionally, its AI algorithms recommend suitable rewards and personalize benefits based on individual preferences, boosting engagement and redemption rates.
Adapting to a Changing Landscape: From India to the World
The COVID-19 pandemic presented a unique challenge, prompting Advantage Club to shift its focus from a purely Indian market to a global one. This strategic pivot enabled them to capitalize on the growing demand for remote-work employee engagement solutions, expanding their reach to countries like Singapore and Dubai.
Beyond Rewards: Building Connections and Community
Advantage Club goes beyond just offering rewards. The platform fosters connections through features like Hobby Clubs and a Fun Zone, where employees can interact based on shared interests. Additionally, the Classifieds section provides an internal marketplace for employees to buy, sell, and rent products within the organization.
A Sustainable Growth Model: Win-Win for All
Advantage Club prioritizes a sustainable growth model, focusing on long-term partnerships and value creation. They refrain from charging “breakage” fees for unredeemed rewards, instead relying on subscription fees from corporations and commissions from brands on claimed rewards. This ensures a win-win situation for all stakeholders.
The Future of R&R: Evolving with the Changing Workforce
As the nature of work continues to evolve with automation, the concept of R&R needs to adapt. Advantage Club recognizes this shift and focuses on non-financial recognition, catering to a new generation of employees who prioritize holistic job satisfaction over mere financial compensation.
A Thriving Market with a Human Touch
Despite facing competition from established players, Advantage Club is well-positioned to capitalize on the burgeoning R&R market. With the global employee recognition and reward systems market projected to reach a staggering $65.3 billion by 2032, Advantage Club is poised to play a significant role in shaping the future of employee experience and value creation through its innovative, tech-driven approach.
