Bradford & Bingley launch reward and recognition scheme with Capital Incentives & Motivation
Bradford & Bingley, the UK-based financial services institution focused on providing specialist mortgages and savings products, has launched a reward and recognition scheme in conjunction with leading incentive and motivation specialist Capital Incentives & Motivation.
The programme, named ‘Your Recognitions,’ was developed following a series of focus groups and surveys which indicated the need to improve recognition of achievement within the Group Sales side of the organisation.
Your Recognitions is an online programme developed using web-centive, Capital Incentives’ online platform, and is targeted at 2000 employees working in Group Sales. The programme covers two areas.
Part of the existing Sales reward scheme, The Bowlers Awards, which rewards top performing sales colleagues with Capital Bonds vouchers every quarter and annually, has been incorporated into the online system.
The recognition element of the scheme works in the following way. Approximately 50 Budget Holders have been set up who have the ability to reward any member of staff who fits into at least one of six specific behaviours:
• Achieving
• Confident
• Focused
• Responsible
• Straightforward
• Supportive
Awards range from £25 to £100 and are credited in points to the recipient’s personal account. The points can be spent on Capital Bonds vouchers, a range of single-store vouchers, merchandise and experiences.
The Budget Holders can also award teams with an Incentive Award Card, Capital Incentives’ prepaid Maestro card, loaded with between £250-1000. This is given to the Team Manager who can then redeem it for a team event.
Capital Incentives manages points uploads, registration of new staff, a telephone hotline and email as well as producing all relevant tax reports.
Craig Spafford, Retail Projects Manager at Bradford & Bingley, said: “Using an online programme was appealing to us as the points-based system gives the participants in the scheme a great choice of redemption options and also allows them to bank awards. The Incentive Award Card is ideal for whole teams as it gives the Team Manager complete flexibility to choose the event that is most appropriate for the personnel within the team. Feedback from the participants to date has been extremely positive both in terms of providing a new recognition scheme and an easy to use site ”
Graham Povey, Managing Director at Capital Incentives & Motivation, said: “It is pleasing to see our relationship with Bradford & Bingley evolving and moving online. We are confident that the many benefits of our web-based incentive management programme will deliver a return on objectives.”
Notes to Editor:
Since 2004, Capital Incentives has been part of Accentiv' - an international relationship marketing operator and consultancy. Formed in 2002, Accentiv' is currently present in 24 countries around the world and has grown quickly to become a major issuer of vouchers and cards in both the employee motivation and customer loyalty sectors.
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