Uwin Iwin Newsletter 2023 Issue 4 - Using AI to Retain Develop and Attract Top Talent
Uwin Iwin Incentives
We help companies achieve great results with inspirational award winning incentive programs
Artificial Intelligence (AI) is currently all the rage for diverse learning, productivity, and engagement activities. Though its impact concerning replacing humans in the workplace is highly controversial, it has transformed our everyday lives. AI’s possibilities cannot be undermined despite its downside of potential work displacement. According to a study published by Mckinsey Global Institute, AI will contribute $13 trillion to global economic output by 2030.
There are various AI tools for problem-solving using artificial intelligence algorithms. From households to various sectors of industries such as Finance, Healthcare, Education, and Marketing, AI has greatly improved performance and decision-making. For corporate organisations using predictive tools to determine Incentive Rewards and Recognition for their employees is a revolutionary concept that has greatly improved motivation, engagement, and retention.
An interesting area AI also greatly improves is organisational activities. Employee performance is a key determinant of organisational performance. The top 10-20-70 employee performance analogy for companies helps amplify its classes of performers. This ratio theory suggests that there are three categories of performers within organisations.
Top 10%: This cluster of employees are the top performers in organisations who are consistent in their roles and performance. They contribute significantly to the bottom line and are high achievers. They are go-getters and have the take charge winning attitude.
Mid 20%: “The dependable”, performers whose performance is consistent and measured. They provide stability delivering steady results. They are effective and top contributors to work projects. While they do not stand out as top performers, they are a strong unit or force for organisations.
Bottom 70%: This large group consists of the highest number of employees who do not meet their targets and struggle with meeting expectations. They are usually the individuals who need more support to improve their performance.
Employee performance is measured along these lines by organisations to guide in their employee management and decision making especially for the large pool of 70%’ers. Strategic planning is made for all these segments to determine their, rewards, provision of developmental opportunities and improvement plans where required.
Utilising AI To Implement Plans For Employee Performance Improvement.
AI contributes greatly to employee learning and development, and it is also a powerful tool to analyse data that identifies performance levels, skill gaps, strengths, and weaknesses. Using AI-powered performance management requires more than a rating score for employee evaluation and assessment. With AI, various algorithms are analysed using a large pool of data from numerous sources, to give granular details of their capabilities and needs.
This method enables employers to make better-informed decisions, which translates to improved performance and productivity. It cuts costs from attrition and improves talent retention. Some areas where AI-powered performance management improves employee productivity are:
Learning: AI technology can provide individualised learning materials based on the needs of the employee. Learning categories can be derived to develop training modules by age, gender, and demographics. The skills and experience of employees can be scanned through data pools to determine their level of learning and what training is required and applicable to every level. These training recommendations will improve their growth potential and accelerate career development.
Productivity: Automating repetitive tasks is a significant time and performance improvement strategy. Process workers who work in assembly lines, employees in charge of e-mailing and data entry, accounting, and purchase orders, engage in work that involves performing the same operation routinely. Automating these tasks greatly improves the workplace environment, employee well-being, and work attitude.
Engagement: AI-based HR tools are a great inclusion in today’s work environment. They help automate daily processes, provide a feedback system within the workplace, and improve team members’ work connections. There is improvement in the inclusivity of team members in team activities, scheduling is easier, and seamless enhancement performance.
Efficiency: Using AI improves efficiency for employees, giving room to focus on more creative, complex problem-solving solutions. Efficiency allows for employees to do more impactful work, improves their decision-making abilities, and empowers them. It creates a sense of joint ownership for the business and promotes a healthy work culture.
Safety: AI promotes workplace safety for workers by reducing errors, automating dangerous tasks, monitoring employee safety (through safety compliance check measures), and for fraud detection. In a production line, scouring inputs and outputs by AI identifies all the anomalies to check and correct in making better safety decisions and preventing accidents.
Ultimately, performance levels are measured and assessed differently in organisations, and the strategic solutions for employee performance improvement are not the same. Utilising AI to retain, develop, and attract top talents increases learning, improves productivity, enhances employee engagement, and improves efficiency and safety.
Uwin Iwin Incentives Pty., Incentive Programmes | Uwin Iwin Performance Incentives is a pan African full house incentives company that has over 29 years’ experience in providing companies/ organisations with inspiring incentive solutions in Africa, India & Middle East. We work with our clients to unlock their market potential and improve their performance in productivity. Our vision is to provide first class incentive programmes to organisations, by using our innovative modern reward solutions within the business market. We look forward to the opportunity to form strategic partnerships with you. For more details, please contact us at [email protected]
Adeshola Ekpo is the Business Development Director for Uwin Iwin based in Lagos Nigeria and has been with Uwin Iwin for 8 Years. In Her role as Business Development Director, she is responsible for business plan & sales strategy development, Designing and implementing Incentive Programs for Employees, Sales and Distribution channels as well as Business Relations and generation within Nigeria and Ghana.
A Highly Attractive Above-The-Pay Packet Recognition And Rewards.
A highly attractive above-the-pay packet Recognition and Rewards, together with performance incentives opportunities are increasingly becoming the hallmark of top companies around the world.
Driving this trend are several major factors that have forever changed the world of work.
These are incredibly challenging realities for businesses that are under huge pressure to deliver services and products that will please customers, results that will create positive shareholder returns, and teams that are agile productive, and successful. Individual employees who are happy, fulfilled, and live purposefully.
The Uwin Iwin Performance Incentive company is developing holistic solutions that drive and customise tools, interventions, and partnerships that help HR and C-Suite executives to navigate and inspire people results, support, develop and reward that become a culture of caring performance excellence. People first, passionate and purposeful culture.
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Advantages/Disadvantages Of Performance Incentives
Without performance incentives, organisations have no way of sharing upside results with the very teams and people who create them. The win-win philosophy has to be embedded in everything we do today, not only with customers and communities but also with teams and people who drive that value to society through the businesses created to do so.
Cracking the performance whip has for decades created a grudgeful relationship between capital and labor, even worse is the view that ” we pay them every month why there should be more” It is unbelievable that we still hear this in today’s times.
Without strategically aligned, well-thought-out performance incentives top performers will migrate to new spaces, not yours, engagement levels will stay at ridiculously low levels of almost 60% and people in these workspaces will deuterate in their wellness scores and eventually break and break the very fabric of the asset’s organisations are attempting to grow and maintain.
Of course, there are performance incentive programs that are not strategic, they are often DIY implemented without specialist advice and short term in nature. They often are not holistic and focus on certain categories of employees only. Either executive level only or revenue drivers only. The downside of this is that resentment builds from those not included and heard, resulting in a second-class citizen feeling. Rewarding individual effort without consideration for company values and culture. Resulting in a toxic high-performance culture that is destructive and creates even further disregard for an inclusive let us perform together culture.
There is absolutely no doubt that from deep-level research and countless positive case studies of businesses around the world that companies who pay special attention to creating cultures that are enhanced with opportunities for people to participate in reward and recognition programs, incentive competitions, experiential and lifestyle improvement rewards keep moving forward at a sustainable pace for improved people and business outcomes.
There are four key parts to address in any successful solution today.
Rewards today are as numerous as the experiences and commercial opportunities out there in the world. Choice and personalisation of rewards, the way they are authentically won and the way they are given with appreciation and heart, is more the point. It’s how they are 360 degrees packaged and set to inspire that is the art form of incentive rewards.
Travel experiences are always ranked as the most powerful as this is not only high value, personalised, and experience-filled, but also has the most valued commodity of all time out from the performance race.
Mastercard-enabled value transactions can be used to add value to the family, personal relationship goals, or individual pursuits. This unlimited choice reward mechanism is highly valued and a powerful motivator.
“Clients do not come first. Employees come first. If you take care of your employees, they will take care of the clients.”
– Richard Branson
David Sand serves as the esteemed CEO of Uwin Iwin Performance Incentives. With an illustrious career spanning over 29 years, he founded and held the position of chairman at Uwin Iwin International. As a global leader in reward and loyalty solutions, Uwin Iwin International empowers businesses to unlock the potential of their employees, channel partners, dealers, and consumers. David’s unwavering goal is to orchestrate inspirational events that captivate and drive tangible business results, giving our clients a competitive edge.
Uwin Iwin and Partners at 2023 HR Summit
Uwin Iwin Performance Incentives along with our partners peopleHum and Totally Morpheus were thrilled to have exhibited at this year’s HR Summit.
On September 13, 2023, the Sandton Convention Center hosted the HR Summit, one of the biggest gatherings of thought leaders, business experts, and HR professionals in Southern Africa. It was a great turnout, with more than 2000 delegates in attendance.
The HR Summit was a premier HR event that gave industry experts the chance to discuss the most recent trends, challenges, and strategies in the field of human resources. The annual summit serves as a platform for networking, knowledge exchange, and teamwork with the goal of advancing workplace excellence.
We were excited about this fantastic opportunity to showcase our offerings as well as network and collaborate with Industry Professionals.
Uwin Iwin and partners spoke to HR and industry professionals who were eager to learn more about the difficulties and opportunities associated with engaging their workforce, the value of conscious leadership, and effective HR management solutions. From the perspective of incentives, our goal at this year’s summit was to impart and share our knowledge of the industry with individuals who were unfamiliar with our services, tell them of our current services as well as our most recent products, and show them how we could help.
The synchronised collaboration with our partners worked incredibly well and enhanced one another’s service offerings. For the businesses we collaborate with, creating outstanding leadership teams, offering effective incentive and recognition programs, and providing HR Software development tools are three strategies that will help the organisations we collaborate with achieve winning performance outcomes.
Uwin Iwin Performance Incentives is a pan African full house incentive company that has over 29 years’ experience in providing companies/ organisations with inspiring incentive solutions in Africa, India & Middle East. With extensive experience in the field, Uwin Iwin Incentives helps organisations enhance performance, increase employee engagement, and drive business results through effective incentive programmes. We work with clients to unlock their market potential and improve their performance in productivity. Our vision is to provide first class incentive programmes to organisations, by using our innovative modern reward solutions within the business market. We welcome the opportunity to work together strategically. For more details, please contact us at [email protected].