When TD Bank Group was looking for ways to further develop their recognition program they decided an employee discount program was ideal for what they were looking for – a way to engage and retain staff nationwide.
TD Bank Group HR Analyst Michael Gelz said they received positive feedback for the program, which is part of their driving principle to be a great place to work.
“We include this as a benefit for our employees and I think a lot of our employees see this as something that is a benefit for them,” Gelz said. “Our recognition program is a cornerstone of our unique and inclusive employee culture. We have this so we can make TD an extraordinary place to work. We try to make sure it’s as flexible as possible and gets the employees what they want to see. The ability to have a program that reaches out nationally is very positively received.”
Employees can even request companies or product lines to be added to the site. In one case a worker suggested a partnership with Adidas, which made its way through TD’s channels to be negotiated and implemented by vendor Perkopolis.
That flexibility is a key part of the Canadian based company’s program, with about 25% of new products coming through referrals from customer service or client departments.
“Traditionally we focus more on entertainment and fun stuff, but in this economy people are looking for discounts on everyday items,” Senior Account Manager Richard Joynt said. “One big one was gasoline, we heard that a lot, and we’ve set up a relationship with Esso which was the first time they’ve done a third-party discount program.”
While to engagement tools are always difficult to measure, Joynt said hard numbers can show how many employees use the program, giving an indication of its value to the company.
“We can give hard facts on whether employees have bought theatre tickets or movie tickets or a new set of tires. If you have 1,000 employees and 450 are registered with us I think it’s safe to say it’s a tool that’s engaged them with their company,” Joynt said.