The Hindu Business Line : Accor India to enter new areas in loyalty benefit schemes

New Delhi, July 30 Accor Services India, a company engaged in employee benefits and loyalty solution, is eyeing acquisition to strengthen its presence in the country.

Backed by two acquisitions in India — Royal Image Direct and Surf God — the company said favourable human resource policies have opened up opportunities in the sector.

“Employee retention is a key challenge for most companies. There is a need to give the right dose of rewards and recognition to retain employees. Hence, companies are moving away from meal and gift vouchers to more concrete forms of recognition,” Mr Serge Ragozin, Chief Operating Officer, Accor Services, told Business Line.

Accor Services entered the Indian market in 1996 with meal vouchers, meal smart cards, gift vouchers to loyalty programmes and reward solutions. It has become a major player providing services to corporate clients and public institutions.

In India, Accor has over 65 clients across sectors, he said adding the company is looking to become a one-stop solution for the employee reward and loyalty programmes.

“We design, develop and manage innovative solutions to attract, motivate and win the loyalty of employees, distribution networks and clients. From meals and uniform cleaning to childcare, incentive and loyalty programmes, the company plays an active part in their daily lives of employees,” Mr Ragozin said.

The reward and loyalty programme market in India stands at Rs 2,500-3,000 crore. Globally, it is a $200 billion business.

“We hope at least 40 per cent of the business will come from Asia-Pacific region in view of the economic development in the region. This makes acquisition in the region very lucrative,” he said.

The company has earmarked a total of €500 million for acquisitions worldwide, most of which has been consumed in the last one year or so.

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