Mason Corey Recruitment are specialists in top-end legal and investment recruitment. The company specialises in headhunting industry leaders for clients in London, Paris, New York, Boston, Tokyo and other industry hubs.
Mason Corey were experiencing high turnover internally, with feedback revealing that there was a lack of appreciation and progression available.
Due to their client profiles, the job was particularly demanding and often included meetings and conference calls at unsociable hours. Staff have expressed issues with managers who focused more on their own client base than they did on mentoring, supporting and training their team members. Mason Corey wanted to put a rewards programme in place to reduce staff attrition levels. However, they were aware that staff members were used to some luxury –often joining clients or entertaining prospective leads at top end hotels, restaurants or bars. A reward programme needed to facilitate staff to access this luxury on a personal level while allowing maximum choice.
A short survey was sent to all staff to build a profile of the audience base. The survey aimed to understand staff members’ personal life, family life, hobbies, preferences for dining out, holidays, days away and to gain insight into spending patterns.Based on the results of the survey, it was decided that a simple app based programme could be deployed to help staff make a note of, or take a picture to demonstrate something that classes as above and beyond work or behaviour. Managers could then allocate a monetary value to a person in their team who had shown the most commitment. Monetary values are then loaded onto prepaid cards for staff to spend as they wished.In keeping with the level of luxury the staff have come accustom to, the cards were based on a tiered system to drive kudos and recognition for ongoing dedication:
Additionally, all those staff members reaching a new card level were entered into a monthly prize draw to receive a £500 bonus load to their card, complemented by a champagne lunch with the CEO at a Michelin starred restaurant.
Staff have reported feeling more appreciated and driven to work towards the highest card level and the card has also added value to the staff retention scheme. Within 18 months of the programme launch:
See more Usage Models below:
*for illustrative purposes only