LoyaltyOne Cultivates Culture and Alignment with Achievers

LoyaltyOne

Business Challenge

LoyaltyOne knows the importance of culture and alignment. With over 20 years of experience building and managing loyalty programs and solutions for a global portfolio of clients, LoyaltyOne echoes its focus on client success with an equal emphasis on employee success. Ranked among the best employers in Canada, LoyaltyOne’s associates are located in Canada and the US, with the third largest associate group being their work-from-home associate population. The strong culture of success at LoyaltyOne led to an initiative to have associates share success stories; but what became clear was that associates were looking to recognize each other directly.

Employee Success Platform™ Solution

Seeing a high level of interest in recognizing achievements, LoyaltyOne engaged Achievers to deliver recognition via the Achievers Employee Success Platform. To bring together siloed departmental recognition programs and leverage core values and a single recognition brand that had proven to resonate with the culture of the organization, LoyaltyOne launched the ‘Pass It On’ program in April 2013. Grassroots response was unprecedented – launch statistics within the first two weeks showed user and program adoption levels at 93%, and over the program’s first year user engagement has been consistent at 97%.

Business Impact

The Achievers Employee Success Platform enables cross-functional interaction and communication across the company. In meetings someone is bound to say “let’s make sure to put that in ‘Pass It On’.” And it’s made managers want to get involved and take a closer look at the successes of their associates. After one year, the impact of the program has contributed to a 6% increase in associate engagement scores, to a level 23% higher than high-performing companies; and the company has moved up 10 spots in its placement within top employer rankings, ranking 6th in the 2014 AON Hewitt Employer Survey.

Bringing everyone together under one platform represents a cultural foundation that will continue to help drive success and facilitate important initiatives to maintain market leadership, such as innovation, in context of the longer-term goals of the company.

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Achievers Insight

Engaged and aligned employees have a profound impact on business results. A study by Russell Investments between 1998 and 2010 revealed that investing in the “Fortune 100 Best Companies to Work For” over that period of time yielded considerably more profit than an investment in the S&P 500 in the same timeframe—an 11.06% annualized return for those “happy” workplaces versus 3.83% for the standard index. The same held true for a shorter time period: a one-year investment in the “100 Best” yielded a 23.11% return, versus the S&P’s 15.06%.