From Humble Beginnings to Global Growth: Advantage Club’s Tech-Powered Rewards Revolution
From Humble Beginnings to Global Growth: Advantage Club’s Tech-Powered Rewards Revolution In today’s era of the Great Reshuffle, where employee retention reigns supreme, innovative solutions are emerging to combat attrition and bolster engagement. Advantage Club, a brainchild of a resourceful Indian couple formerly at Microsoft, is making a significant impact in the employee rewards and recognition (R&R) landscape.
From Humble Beginnings to Global Growth: Advantage Club’s Tech-Powered Rewards Revolution
A Vision Born from Experience
Sourabh Deorah and Smiti Bhatt Deorah started Advantage Club in 2016 with a mission: to help companies transform their R&R programs and elevate employee engagement. Witnessing the remarkably low attrition rate at Microsoft’s US offices, they saw the power of a culture that valued and supported its workforce. Inspired by these perks and privileges, they envisioned replicating this success in India.
Advantage Club: A Tech-Driven Solution
Advantage Club recognized the complexities of traditional R&R models and set out to simplify the process through technology. Their platform offers a multitude of solutions to incentivize employees, including:
- Instant recognition for achievements
- Perks and rewards from renowned brands (including NFT gifts)
- Access to wellness & fitness programs
- Personalized health benefits (FlexBen)
- Tax advisory services
- Smooth onboarding systems
- Employee communities fostering camaraderie
- Fun zones and hobby clubs for collaborative engagement
Scaling Beyond Borders
Initially targeting Indian SMEs, Advantage Club quickly recognized the global potential for their solution. They strategically shifted their focus to larger enterprises and international markets like Singapore and Dubai. This expansion was fueled by their AI-powered platform, which offered:
- Automated milestones, notifications, and reward updates
- Smart algorithms to identify high performers and recommend suitable rewards
- AI-driven personalization for a more engaging redemption experience
- People analytics to optimize performance evaluations and reduce turnover
Adapting to a Changing Landscape
The COVID-19 pandemic presented a unique challenge. However, Advantage Club saw an opportunity to cater to the growing emphasis on remote work and employee well-being. They capitalized on this trend by:
- Obtaining GDPR compliance for secure data management in the EU
- Focusing on global expansion during a time of talent scarcity
A Sustainable Growth Model
Advantage Club prioritizes a win-win approach with their clients. They refrain from charging “breakage” fees and instead earn revenue through subscription fees and brand commissions on claimed rewards. This ensures a mutually beneficial relationship for all stakeholders.
The Future of R&R: Beyond Paychecks
As the nature of work continues to evolve, Advantage Club recognizes the need for R&R programs to adapt. They anticipate a future where non-financial recognition will play a crucial role in attracting and retaining talent. With a projected market size of $65.3 billion by 2032, the demand for tech-driven platforms like Advantage Club is poised for significant growth.
Advantage Club’s story exemplifies the power of technology in building a culture of recognition and engagement. As the definition of work transforms, platforms like Advantage Club will be at the forefront of shaping the future of employee experience and value creation.
