CATEGORY

Rewards and Recognition

Beroe LiVE.Ai™

AI-powered self-service platform for all your sourcing decision needs across 1,600+ categories llike Rewards and Recognition.

Market Data, Sourcing & Supplier Intelligence, and Price & Cost Benchmarking.

Schedule a Demo
Meet Abi

The World’s first Digital Market Analyst

    Schedule a Demo
    Meet Abi

    The World’s first Digital Market Analyst

    Abi, the AI-powered digital assistant brings together data, insights, and intelligence for faster answers to sourcing questions

    Rewards and Recognition Suppliers


    Rewards and Recognition Supplier

    Find the right-fit rewards and recognition supplier for your specific business needs and filter by location, industry, category, revenue, certifications, and more on Beroe LiVE.Ai™.

    Sample Supplier
    Company
    Adecco Inc.
    Location
    Jackson, Mississipi
    Duns number
    3862211

    D&B SER Rating

    dnb logo

    Up to 3 months

    1 9
    2
    Low Risk High Risk

    The Supplier Evaluation Risk (SER) Rating is Dun & Bradstreet’s proprietary scoring system used to assess the probability that a business will seek relief from creditors or cease operations within the next 12 months. SER ratings range from 1 to 9, with 9 indicating the highest risk of failure. We’ve prepared an infographic to help business owners better understand what influences their SER Rating.

    Moody`s ESG Solution
    ESG Profile

    Company and Sector Performance
    51

    100
    Robust (1)
    ESG Perfomance (/100)
    Environment
    53
    Social
    45
    Governance
    58
    6 Domains Performance (/100)
    Business behaviour
    50
    Human rights
    55
    Community Environment
    50
    Corporate governance
    62
    Human resources
    36
    Security Scorecard
    85

    Threat indicators
    C
    76
    Network Security
    Detecting insecure network settings
    A
    100
    Hacker Chatter
    Monitoring hacker sites for chatter about your company
    A
    90
    DNS Health
    Detecting DNS insecure configuration and vulnerabilities
    D
    62
    Application Security
    Detecting common website application vulnerbilities
    A
    100
    Endpoint Security
    Detecting unprotected enpoints or entry points of user tools, such as desktops, laptops mobile devices, and virtual desktops
    A
    100
    Cubic Score
    Proprietary algorithms checking for implementation of common security best practices
    A
    96
    Patching Cadence
    Out of date company assets which may contain vulnerabilities of risk
    A
    100
    Social Engineering
    Measuring company awareness to a social engineering or phising attack
    A
    100
    IP Reputation
    Detecting suspecious activity, such as malware or spam, within your company network
    A
    100
    Information Leak
    Potentially confidential company information which may have been inadvertently leaked

    Industry Comparison
    adecco.com
    Industry average
    Adverse Media Appearances
    Environmental Issues
    0
    Workforce Health Safety Issues
    0
    Product Service Issues
    4
    Human Rights Issues
    0
    Production Supply Chain Issues
    0
    Environmental Non Compliance Flags
    4
    Corruption Issues
    0
    Regulatory Non Compliance Flags
    3
    Fraud Issues
    0
    Labor Health Safety Flags
    10
    Regulatory Issues
    3
    Workforce Disputes
    2
    Sanctions
    0
    esg energy transition
    58
    Discrimination Workforce Rights Issues
    8
    esg controversies critical severity
    No

    Rewards and Recognition market report transcript


    Regional Market Outlook on Rewards and Recognition

    Non-cash awards are expected to grow as the focus on brand, culture, and innovation  becomes more critical for business success. Gift cards will gain momentum in 2018. Mid-sized firms spend an average of nearly $500,000 annually on gift cards across all programs, whilst Fortune 500 companies spend over $1 Million annually. Top-performing companies feature higher non-cash incentive payouts annually for the average employee.

    In the US, 84% of organizations use tangible non-cash rewards . This represents more than a three-fold increase from 20 years.

    trends-rewards-recognition

    Reason for the shift from Cash to Non-cash rewards:

    • This gain in popularity and use of non-cash, tangible rewards is due to a growing understanding of the advantages accompanying tangible non-cash rewards.
    • There are psychological mechanisms underlying these benefits.

    Market Trends of Global Rewards and Recognition Programs 

    Professionals in the non-cash rewards industry keep undergoing a large amount of transformation.  From cultural changes to technical developments to an enhanced emphasis on risk and safety

    Developing a brand-asset culture is a corporate necessity

    • Non-cash awards to increase as organizations concentrate on brand, philosophy, and modernization.
    • Companies with non-cash award programs must guarantee these programs are recompensing in several parts, brand-centric actions, flexibility, and revolution.

    Social Recognition becomes a necessity

    • Almost 40% of programs are now using social recognition.
    • Employee engagement sponsors demand for social recognition benefits/value.
    • Technological advancement, cloud computing, social media proliferation, and a wide array of automation tools have made social recognition a reality.

    Integration

    • Programs' power increases when they are integrated with other platforms such as SaaS, VR technology, AI etc.
    • 34% of program owners have expressed, they are now integrating their programs with their sales force system

    Growing capacity with progressively predicative analytics and intelligent technology

    • Using predicative analytics, meeting planners can collect data throughout many events.
    • They have a valued solution to uncover current in-house corporate data, forecast broader individual company patterns etc.

    Gift cards continue to increase

    • Employee reward programs are the largest category for R&R programs and the average spend will maintain and improve.
    • The simplicity to obtain gift cards has influenced employees use in non-cash awards programs.

    Products shifting to organic, local-sourced and custom-made

    • Employees obtaining awards look for a profound reason for choosing a product, which has shifted the goal for products to be sourced locally, and simple to tailor.
    • Rewards matter to employees when it has an individual significance and a customized distribution accompanying it.

    Growth Drivers & Constraints  

    The increase in 22% of Gen X, Y, and millennial workers have changed the whole landscape of the R&R offerings. High attrition rate and turnover also fostered the growth of the industry. Recession and economic slowdown along with the risk of data pose a threat to the industry.

    Growth Factor

    • Talent Management - Due to the shortage of skilled and efficient manpower, organizations are increasingly adopting R&R programs for better human capital management.
    • Better Employee Engagement - It is estimated that about 75% of employees in an organization feel that R&R programs of any type boosts the morale of employees, thus, resulting in enhanced job satisfaction and improved motivation.
    • Shift of HR from Technical to Strategic Model - Organizations expect HR employees to undertake strategic activities from regular tactical activities.

    Constraints 

    • Budget Constraints in Implementation - R&R programs involve HR and finance departments to allocate budget appropriately, but during financial crunch, organizations impose budgetary constraints.
    • Time Constraint to Implement Recognition Ceremony - Time constraint is a challenging factor, as HR employees and mangers have to manage the R&R programs in-house.