UnionBank taps Voyager scheme for workers’ perks

UnionBank of the Philippines (UnionBank) has tapped infor­mation technology firm Voyager Innovations’ Takatack Rewards digital incentive system for the bank’s employees, in line with its efforts for digital transformation.

Through Takatack Rewards, UnionBank is able to simplify human resource incentive pro­grams by enabling enterprises to credit rewards to the “elec­tronic wallets” of employees. Employees can conve­niently use their reward cred­its to shop on Takatack.com.

“With the thrust of being the leading provider in smart bank­ing, UnionBank has been ac­tively transforming its products and systems toward the digital space,” UnionBank President and CEO Edwin Bautista said.

“That transformation also involves our own employees and processes, because we believe that the key to lead­ing in this space is to delight our customers, both internal and external ones,” he said.

Bautista has led Union­Bank’s foray into digital technol­ogy as the bank gears toward delivering fast and real-time transactions to customers, in whatever platform they prefer. The transformation, driven largely by the “millennial” gen­eration of new users who prefer using smartphones and other devices in transacting with the bank, has likewise permeated within the halls of UnionBank it­self, where the company sees an increasing amount of mil­lennials joining their workforce.

Bautista believes that having Takatack Rewards as part of their HR engagement program will help them retain employees in the workplace.

“With the features and ben­efits embedded in Takatack Re­wards, we are positive that this dynamic tool can help solve man­agement concerns on keeping millennials engaged and having employees appreciate the com­pany even more,” he explained.

“We make sure that our dig­ital savvy workforce receive the rewards they deserve and matter to them most because every­one’s contribution to the business is important to us,” he added.

Through Takatack Re­wards, employees are able to use the funds credited to their electronic wallets to shop for their preferred incentives–sim­ilar to the way they shop for their favorite products online.

“Employee engagement programs have been one of the core business strategies of enterprises as they bolster employees’ growth and perfor­mance in the workplace,” Voy­ager Innovations VP for Digital Commerce Mitch Padua said.

According to the study con­ducted by Price water house Coo­pers (PwC) in 2011, millennials are anticipated to globally dominate 50 percent of workforce by 2020. “Considering the increasing number of millennials in the workforce, it’s important for companies to adapt to modern technology and tools such as the smartphones they use and social networks they often visit in the workplace,” Padua added.