CA Trust (Accounting Firm) Case Study: Achieving 97.5% employee’s voluntary participation rate for better employee retention

CA Trust (Accounting Firm) Case Study: Achieving 97.5% employee’s voluntary participation rate for better employee retention

 

“SelfDrvn encourages participation by all in a campaign primarily because what colleagues do on the platform is highly visible. Furthermore, being rewarded for taking part in certain activities certainly help drive participation”

– Jian Long, Engagement Champion, CA Trust PAC

CA Trust Employee Engagement

A leader in audit, tax, and advisory services

CA Trust Pac is an independent member of the TGS Global Network Limited, an international network of professional business advisors. They offer audit, tax, and advisory services to small and mid-sized businesses, government as well as non-profit organizations.

The Challenge: Employee Retention

CA Trust Pac had one primary challenge – address retention levels.

As a small organization of 90 employees, growing the team was much less a priority to retaining the people they had and ensuring employee engagement was on the mark. One of their goals was to be seen as an employer of choice for young Accounting talent. Addressing employee social well-being and health and wellness were, therefore, top concerns.

They decided that events would be a primary platform through which they would undertake greater employee engagement as these were in-person activities. These events would provide a better listening channel as well help them provide better analysis of any data collected.

The Solution to increase employee engagement: Listen to the Voice of the Employee (VoE) 

SelfDrvn represented a single yet comprehensive platform to manage multiple drivers of employee engagement. With a variety of tools and touchpoints including employee pulse surveys, reward, recognition, peer feedback, goal setting, and wellness, it was possible to tackle a number of aspects of the employee experience.

Take the app, Message in a Bottle, for example – this motivated employees to participate in idea generation, provide feedback as well as make suggestions for improvements. It is designed to allow for anonymous feedback and ideas generation that in turn, made it more engaging, fun and rewarding. And gamification meant that employees could compete among themselves and earn rewards for their contributions.

Message in a Bottle allows you to receive collective anonymous feedback from your employees and let them vote on the their top 3 most agreeable and top 3 answers they disagree to. This helps organisation to focus on issues that matters most to their employees through their collective voice.

The Newsfeed allowed employees to keep engaged socially, collaborate and stay informed.

Real-time rewards and recognition fuelled greater participation and by incorporating many of the employees’ ideas, participation rates increased which had a knock-on effect on the rest of the activities.

Success in increasing employee’s participation rate

As the statistics show, employee participation rates went through the roof at 97.5%. This increase in participation led to the creation and sharing of 1 idea from every 2 employees too (which is 4x more than traditional methods) all of which contributed to making their internal campaigns and initiatives an overwhelming success – signifying the true embodiment of a campaign that is “driven by employees for employees”. 

7 Keys to Building an Effective Team

7 Keys to Building an Effective Team

If you are looking to create a successful and productive team offsite, you may want to explore the following 7 ideas

 

  1. Open Communication

Announce to the team how this offsite team-building will actually improve business. Set up live business goals for the meeting – e.g. sales strategy and sales goals for the next year, new delivery of ideas, or product/service lines to roll-out.

2. Allow Time for Networking

There should be scheduled time slots throughout the offsite team-building duration to enable everyone to get to know each other. I recommend that “getting to know each other” activities need not be planned; instead teams should be doing this naturally. It could be a late evening sitting at the pool and chit-chatting, or having a round of “antakshri” or karaoke, whatever the team would like to do post the offsite day work!

7 Keys to Building an Effective Team
                                                                                                            Remember to set aside time for networking!

 

3. Build A Learning Mindset

Build their skills, and self-confidence by providing constant training. Hold weekly, or bi-monthly team workshops to teach systems and procedures for every element in your business. Teach your employees how to get the most out of the time and effort that they are putting in to reap the most rewards. Also, eliminate the need for guessing when it comes to difficult situations – create systems to specifically manage a crisis.

4. Reward the Results

Set clear and realistic targets for your employees, and keep it as transparent as possible. Targets are proven to motivate employees and give them something concrete to focus on. But don’t treat missed targets as an opportunity to punish your team; simply offer a reward (cash / kind) that will drive your team to meet the targets you set in the future. Check out this blog post for ideas on designing an effective employee rewards system.

5. Don’t Miss the Basic Needs

As an employer, the onus to provide a healthy lifestyle to employees is on you. Here are basics listed –

  • Comfortable, clean and well-lit rooms and sitting place.
  • Break areas.
  • A place for quick power-naps.
  • Flexible working schedules as the focus is on work, and not thenumber of hours.
  • Robust recognition program.

Basic infrastructure at work
                                                       Ensure the working environment is clean and comfortable to maximize employee satisfaction and productivity.

6. Offsite Events

Are overnight events allowing the team to enjoy and relax, having dinner, drinks, music etc, and truly bonding. In my experience, good teams tend to end up staying late, and talk over or brainstorming new, innovative solutions to recurring problems, and work through existing business problems. These sessions are invaluable as team members work together to work out existing problems, setting the scene for new opportunities, and building real relationships in the process.

7. Last But Not Least

Remember it’s important to keep the momentum rolling. If you fail to come out with an action plan, then you will plan to fail eventually. You may have a list of ideas from the offsite meeting, but have no clarity on executing them. Ensure that action planning is clear to all members with identified goals/actions, associated responsibilities, measurement criteria, and timelines of completion. And all of this is documented soon after the event.

This post was guest written by Saloni Kaul, a human resource specialist and corporate trainer.

Trend Insights – Before You Incorporate AI

Trend Insights – Before You Incorporate AI

The promise of AI will be fulfilled only by establishing a clear, coherent link between AI and business value. This report will help CIOs incorporate AI into their strategic planning and evaluation processes for business transformation.

Opportunities and Challenges

  • Artificial intelligence (AI) isn’t an end in itself, but rather a strategic capability that organizations can develop and mature to achieve specific, measurable and transformative business outcomes.
  • Only 4% of CIOs say their organization has deployed AI, but we expect a substantial increase in deployments as one-fifth say they are experimenting with AI, or have short-term plans for AI.
  • Moving from pilots and short-term plans to large-scale implementations of AI is a daunting task that requires sound planning.
  • Organizations will need new or updated strategies as vendors exploit AI capabilities within business suites, enterprise applications, platforms, infrastructure support services and the customer experience.

The wonder facts

  • Start by prioritizing critical business scenarios and outcomes, before assessing the extent to which the use of AI in IT solutions could help you achieve desired outcomes.
  • Normalize strategy development for AI capabilities, as you have for other advanced technologies while identifying AI’s unique requirements, which include data scientists, very large datasets and natural-language understanding.
  • Use AI especially for tasks that require classification and prediction on an unprecedentedly large scale, which range from granular text autocorrection to strategic sales forecasting.
  • Foster a culture of AI innovation by taking a “bimodal IT” approach that enables your organization to rapidly plan, test, assess and innovate with AI capabilities developed either in-house or integrated into vendors’ software applications, services and platforms.

 

Source: click here for the detailed report.

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