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CASE STUDIES > A LEADING GLOBAL FINANCIAL INSTITUTION

Leveraging the power of a customized global recognition platform results in economies of scale, consistency, retention, and increased utilization.

Challenge:
A major global financial institution was facing the challenge of managing a hornet’s nest of reward and recognition programs. Most of the activity was decentralized, some programs were managed offline and required significant manual labor, and overall, messaging and branding was inconsistent and additional costs for repeated functions were being incurred by the client.

Our Response:
Madison consolidated their global recognition programs under a single umbrella, deploying a customized global platform that streamlined the nomination process and delivered award notifications via animated e-Cards. The system utilized hierarchy-based approvals and provided a complete auditing capability. Madison also deployed five regional catalogs, one for each continent where the firm has a presence, with local vendors in each catalog. The site was localized for languages in each region.
 

ELEMENTS OF THE PLATFORM INCLUDED
Animated e-Cards
Global catalogs
Hierarchy-based approval
Localization tools
Dashboard reporting tools
Paperless purchase orders
Electronic nominations
Local culture catalogs
Hierarchy-approval tools
Real-time reporting offers managers ability to stay on top of program at all times
RESULTS
Streamlined interface enabled, engaged and empowered budget holders
Employee engagement and retention markedly improved
New regional catalogs provided culturally-appropriate merchandise from local, familiar vendors
Budget holders were able to recognize their direct reports in their local language
Customs and duties eliminated without resorting to cash awards
Hierarchy-based approval system ensured appropriate use of program funds