Vega HR Launches a UPI & Bank-enabled Redeemable Rewards and Recognition Program

Vega HR recently launched a UPI & Bank-enabled redeemable rewards and recognition (R&R) program. End Quote

(1888PressRelease) May 27, 2021 - Vega HR Launches a UPI & Bank-enabled Redeemable Rewards and Recognition Program

The Vega HR Rewards and Recognition Program enables companies to introduce employee rewards and incentive programs resulting in higher employee engagement, accountability and fosters a culture of continuous feedback and learning.

Vega HR - a US-headquartered company with operations in India and North America - is a complete end-to-end HRMS software for hiring managers, recruiters, and candidates. Vega HR recently launched a UPI & Bank-enabled redeemable rewards and recognition (R&R) program.

With this feature the Vega HR HRMS software enables enterprises to introduce employee recognition, rewards, and incentive programs that employees can use seamlessly. It also personalises recognitions to match individual needs of every employee. With the Vega HR R&R program employees can now earn monetary benefit points and redeem them into their favorite e-wallet or bank. The subscription-based program for enterprises results in higher employee engagement and lower voluntary turnover, thus helping organisations in driving higher productivity goals.

“With the Vega HR Rewards and Recognition Program, we wanted to build a modern solution powered by instant redeemable rewarding mechanisms which can drive up peer and social recognition, employee engagement and motivate the workforce to become growth partners. We are constantly innovating our product to help companies deal better with their HR functions especially during the ongoing Covid-19 crisis”, said Amit Alsisaria - Product Head of Vega HR.

Once-a-year rewards are now a thing of the past - when a company introduces a positive rewards and recognition program they send a signal that they are willing to recognise, value and invest in top talent. With features such as quick accrual of feedback-led incentives, peer-to-peer and spot recognition, feedback reminders, e-wallet rewards, redeemable reward points, flexible rewarding and nomination-based rewards, companies can gain ten-fold by providing unbiased recognition and fostering a sense of accountability and ownership among the workforce.

A comprehensive dashboard allows enterprises to keep track of R&R funds allocation and its utilisation. Furthermore, the gamified experience with a leader board enables companies to fortify a culture of engagement. By marrying a culture of feedback and motivation into your enterprise DNA can work wonders against employee churn and favours employee engagement and average employee tenure. The Vega HR Rewards and Recognition Program is customisable, analytical and caters to the workforce of the future.

For instance, if an employee wants to raise a feedback or give a shout-out, they can literally raise it for anyone in the organisation who made a difference - teammate, reportee, non-reportee etc. With every feedback raised, the employee can allocate certain redeemable reward points. It is then credited to any digital wallet or even into a bank-UPI. Additionally, employers can allocate budgets to teams or departments for R&R and these funds would be available in a UPI wallet for supervisors to allocate to use and manage through a seamless app. The app connects with leading e-wallets like – GPay, Paytm, PhonePe and offers customisation to integrate with other APIs of your choice. The Rewards and Recognition Program enables companies to recognise their team’s talent and foster a culture of continuous improvement feedback through feedback reminders.

Vega HR is designed to hire top quality talents with streamlined candidate sourcing, recruiting and onboarding experiences. The Vega HR HRMS platform enables companies to streamline all HR functions right from hiring to retiring. Given the current context, the future of work remains uncertain; and while managing the workforce has become a challenge with most organisations being compelled to adapt to remote work or hybrid work paradigms, Vega HR aims to help companies manage their HR function more seamlessly.

About Vega HR
Founded in 2019, Vega HR is a US-headquartered company with operations in India and North America. An end-to-end HR management suite, Vega HR enables enterprises to streamline all HR functions right from hiring to retiring. It is equipped with a powerful tech-stack, context-aware AI, people analytics and a customisable and DIY platform, designed to take quick HR related business decisions.

Vega HR’s futuristic HRMS suite includes an intelligent recruitment management portal, enhances performance management, automates core HR activities, helps smart decision-making across workforce planning, enablement and management, thereby improving the overall functionality of HR. Vega HR offers the following suite of modules: Recruitment Management System, Performance Management System, Remote Timesheet, Expense Management System, Learning Management System and the recently launched Rewards and Recognition Program.

Vega HR is available on iOS and Android to offer on-the-go accessibility and is updated to manage remote workforce requirements.

For more details please visit the website: https://vega-hr.com/

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