The Hindu Business Line : i-mint way to reward BPO staff

Bangalore, June 17 After having launched an incentivisation programme for employee referral programmes in companies, Loyalty Solutions Ltd, a multi-partner loyalty rewards company, is now eyeing another business opportunity in the B2E space.

The incentivisation programme is targeted at companies that give away large numbers of low monetary rewards to employees. “To do this without embarrassing the employees is a difficult task,” explains Mr Vijay Bobba.

Companies in the service sector, especially the BPOs, are incentivising at least one-third of their employees each with rewards worth Rs 300 to Rs 500 every month.

“Cash is good if it is significant like in annual bonuses and other incentives, but most of the time companies end up gifting vouchers which offer little choice to employees,” he says.

Loyalty Solutions’ incentivisation programme, i-mint, has been altered to make it a performance-based rewards programme where employers can award points to high performers. These points could be accumulated and exchanged for merchandise from any of the six partners or over 1,000 merchants across the country.

“This way the employee can accumulate points over a period of time and reward himself or herself,” says Mr Bobba.

From the employers’ point of view, it’s a sustained way of engaging employees and also makes the operations highly efficient. Employees also save on income tax as the rewards attract only a 6.79 per cent FBT.

The company is currently talking to several large tech and BPO players and is likely to announce a tie-up with a BPO soon, according to Mr Bobba.

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