McBassi Introduces Analytics Service for Recognition, Incentive and Loyalty Field
McBassi Inc., a leading human resources analytics firm, has developed a service for companies in the rewards, recognition and loyalty space that require advanced analytics for clients or their own company. McBassi, based in New York, provides analytics services to leading companies and manages the Enterprise Engagement Alliance’s Engaged Company Stock Index (ECSI), based on its Good Company Index.
According to company President Laurie Bassi, firms in the rewards, recognition and loyalty space increasingly have significant access to data as a result of their program technologies, but lack the means of maximizing its value. “Companies that run these types of programs are using technology that provides a lot of interesting data, but it would be unrealistic for them to employ a full-time data expert or license an analytics platform that would only do half of the work anyway," she says. "Our service is designed to help companies better understand the data they have and how it can be better utilized to enhance their programs" Bassi was a recent speaker at Engagement University. Click here for her presentation on analytics. The service is sold into the engagement field by The Engagement Agency.
Bassi, who is also a contributor to the Enterprise Engagement Alliance curriculum on Enterprise Engagement, says her company’s solution is designed to work with what companies already have in terms of data from their current technology platforms. Her service goes one step further by creating a means of correlating that data, conducting regressive analysis as appropriate and developing recommendations based on the findings. “This service is specifically designed for those companies seeking to mine the data they already have rather than retrofit a new platform on top of what they are doing,” she explains.
“A lot of companies are running programs on a single engagement, incentive, or recognition platform of some kind or are using various technologies,” Bassi continues. “Quite often, these platforms produce useful reports, but without an advanced method of correlating and analyzing data to identify where the engagement effort is succeeding and where it is lagging.” This service, she explains, is for incentive, recognition and loyalty program companies and their customers that seek a way to consistently analyze the data they are already getting from their platforms to provide ongoing useful solutions.
To protect privacy, McBassi does not need names of employees or companies. Based on the key elements of the Enterprise Engagement framework, many companies already collect a lot of useful data which, when correlated and analyzed, can identify concrete ways to improve program performance. Any number of factors can contribute to engagement and performance, Bassi says, including issues related to leadership, appropriate recruitment, general understanding of goals, capability to do what’s required, feelings empowerment and task value, a sense of appreciation and general positive feelings about the job, performance measures and two-way feedback, etc. Ironically, Bassi notes, many companies are capturing information that can identify where any of these areas may be succeeding or breaking down.
She explains that available useful data can include:
- Number of people/who visit or use the technology platform(s).
- What parts of portal or technology accessed; news, how-to, tests, quizzes, rewards, program rules, social media, feedback, surveys.
- Which types of programs are accessed, sales, safety, customer, spot recognition, wellness, length of service and by what parts of the organization.
- Performance of individual, group versus other individual/groups in programs, including sales, wellness, or other goals.
- Responses to surveys in numbers and responses.
- Results of tests by group.
- Participation in peer-to-peer or manager-to-peer recognition.
- Performance in incentive or loyalty programs.
- Participation in internal social media activities.
- Suggestions made/approved.
- Feedback provided.
- Rewards earned, types of rewards redeemed - cash, merchandise, gift cards, perquisities, etc. by group class.
“This might seem overwhelming, but in fact this type of data is often available in the back-end administration of many software platforms in the rewards, recognition, loyalty and engagement space, and for the analyst provides terrific fodder to identify opportunities for improvement by correlating activities with results as well as determining return on investment,” Bassi notes.
For More Information
Contact Bruce Bolger
The Engagement Agency
914-591-7600, ext. 230.