Enhanced staff engagement with blockchain-based incentivization

Our Client, a global multi-billion dollar accounting and consulting firm, relies on the diversity of skills and experience across its team, combined with the rigor and discipline of proven methodologies and practices. Its professional learning & development program helps new and existing staff learn the common approaches while fostering individualism and promoting collaboration.

Motivating associates to complete modules and subsequently recognising their efforts is a key goal. Their talent team turned to their innovation team to develop a solution that engages their thinkers and leaders of tomorrow, inspires them, and reflects the ethos of the company.

Engaging with Loyyal is also part of the the company’s innovation strategy to learn from and use best-in-class solutions, which can be deployed both for internal purposes as well as showcase applications to demonstrate the capabilities of blockchain technology to external clients.

Imagine motivating your staff to complete learning modules in real-time, as well as their  being able to reward one another via peer-to-peer transfer for assistance on special projects.  Additionally, imagine being able to recognize strong staff members organizationally with a leaderboard, and collaboration-enhancing social networks to last their careers.  Now imagine staff being able to redeem their points for experiences or merchandise with partners and being able to reconcile and pay partners, all in near real-time. Finally, imagine partnering with another organization also on Loyyal’s network for no cost and minimal technical integration, and enabling employees to redeem points at the partner companies, at minimal cost, and reconciling with your partner in near real-time. All of these capabilities were enabled through their use of Loyyal’s platform

Loyyal’s platform was designed to enable companies to record and manage incentive transactions such as traditional loyalty program earning and redemption events, along with a myriad of customer or member engagement behaviors in a variety of applications. These other engagement behaviors can include actions such as geo-check-in’s, social media posts, and more. This unique approach to storing the core transaction data on Loyyal’s private distributed ledger, with a secure, parallel Private Channel Ledger for storing additional metadata related to each transaction, enables a secure, permissioned set of data exchange between partners.

Starting with the Loyyal platform, deployed on a Blockchainas-a-Service (BaaS), our client harnessed the flexibility and capabilities of blockchain into an employee engagement program. This program proposition  includes elements of reward and recognition plus an important social sharing component where rewards can be shared between members, in order to drive engagement. The goal was to connect with employees during their studies, both with the company and also importantly create and encourage social connections between students. The aim was to create a peer-to-peer support network for the duration of the course and beyond into their careers with the company.

The employee engagement program operates on the Loyyal platform as one of the very first Distributed Apps (DApps) which our consulting client created to run and manage the program.  Using Loyyal’s Program Manager module to issue and control both reward points and status recognition badges, our consulting client added an interactive front-end mobile app and program dashboards.

Our consulting client has a node on Loyyal’s network which the innovation team uses to create new program members’ wallets on the blockchain; define rewards points and status badges as tokens; mint and issue rewards and status tokens; permission members’ wallets to enable peer-to-peer transfer; accept and validate, transfer or redemption requests; process  transactions, passing value to other members or the redemption partner; track and report on transactions; and leverage transaction data to manage cost allocations between internal departments.

The easy, instant and frictionless social sharing of the rewards points is seen as a breakthrough innovation addressing a key pain point with many loyalty mechanics as common in the market today.

Our consulting client has subsequently released a white-labelled version of the solution for use by its own clients, both as a cutting edge employee engagement platform, and as a real-world example for their clients interested in testing, using, and learning from a live blockchain application deployment.

Using multiple aspects of reward and recognition and enhanced by social-sharing capability, our consulting client’s employee incentivization program reflects the future of engagement, loyalty and incentivisation. Traditional technologies struggle to handle this need for fluidity and interoperability that allows multiple partners to collaborate around a single member and enables the customer to choose with whom to share and how to make the the most of the programme benefits.

Loyyal’s blockchain-based platform handles multiple reward and recognition aspects as tokenized currencies that can support flexible rules around earning, redemption and importantly peer to peer sharing.  Using the Loyyal capabilities our consulting client was able to create a new customer proposition for its staff and demonstrate the power and opportunities of blockchain by building a working and demonstrable App that leverages the key advantages of this breakthrough.