Executive Summary

We've identified a significant opportunity to enhance the Employee Experience vertical by building a comprehensive Employee Rewards product. This has the potential to generate an additional INR 50 lakhs in Monthly Recurring Revenue (MRR). The proposed product will encompass a range of features designed to boost employee engagement and recognition, including:

• Nomination and award system for formal acknowledgment of outstanding contributions
• Automatic rewards for important employee milestones
• Peer-to-peer rewards to empower employees to reward each other
• Marketplace integration to let employees exchange earned points for tangible rewards

Defining the Problem Statement (Why?)

1. Orgs struggle to implement and scale their employee recognition efforts
   Despite research showing that employees who feel connected and recognized are 55% less likely to churn (Gallup), many organizations struggle to implement effective recognition programs.
2. Differentiating in a crowded space
   Keka currently lacks a comprehensive employee rewards product in its Employee Experience vertical, potentially putting it at a competitive disadvantage in developed overseas markets where such features can be positioned as an USP.
3. Increasing the top line
   Without an employee rewards module, Keka is missing out on multiple potential revenue streams that could be generated through up-sales to existing customers and partnerships with other platforms.

Market Research

User Research

Defining the Solution (What?)

• Nomination and award system for formal acknowledgment of outstanding contributions
  1. HRs can create multiple award programs across the org
  2. HRs can collaborate and configure multiple awards within those programs
  3. Nominate eligible candidates
  4. Select winners
  5. Announce and Reward Winners on employee social feed
• Automatic rewards for important employee milestones
  1. Setup rewards for personal milestones - Birthday and/or Marriage Anniversaries
  2. Setup rewards for professional milestones - First Day and/or Work Anniversaries (1/3/5/10)
• Peer-to-peer rewards to empower employees to reward each other
  1. Allocate monthly spend budget for employees
  2. Allocate additional budge for managers proportionate to number of direct reportees
• Marketplace integration to let employees exchange earned points for tangible rewards
  1. Admins can choose from various marketplace options to integrate with
  2. Employees can seamlessly redeem their earned points for tangible goods

Key Metrics‍

• Nomination and award system
  1. To measure adoption: Percentage of accounts with at least one award program per quarter
  2. To measure feature utilization: Percentage of employees in these accounts covered by award program(s)
• Automatic rewards on employee milestones and Peer-to-peer rewards
  1. To measure adoption: Percentage of accounts that launched the respective programs
  2. To measure churn: Percentage of active accounts that stopped the respective programs
  3. Time to churn: Avg. duration between launching and stopping the respective programs
  4. To measure feature utilization: Percentage of allocated budget utilized by employees in Peer-to-peer rewards
• Marketplace
  1. To measure feature utilization: Percentage of total earned points redeemed every quarter

Flows and Wireframes (How?)

Designs in Figma