The Global Benchmarking Network (GBN), USA, an alliance of leading benchmarking centres around the world promoting benchmarking as an improvement process, honoured Eureka Forbes with the for Leadership Governance for its Rewards and Recognition practices. “This recognition is a tribute to our leaders at all levels of our company who constantly go that extra mile in rewarding and recognising their people, making them feel truly special, showing them that what they do really matters and motivating them to seek even higher levels of excellence,” said Suresh L. Goklaney, Vice Chairman and Managing Director, Eureka Forbes.
The BestPrax Club is the Indian member of GBN. It has 24 member countries and every year its road show travels from one member-country to another.
Eureka Forbes was one of the seven finalists that went through an elaborate selection process application, self-assessment and presentation of 10 of their best practices. Based on their performance in the above criteria, the top seven companies were then selected, were asked to make a presentation at the BestPrax Conclave on one of their best practices that were short listed by the jury and were awarded a certification of recognition.
The 10 practices applied by Eureka Forbes covered KM, HR, Marketing and Sales. Two practices – Rewards & Recognition – an integral part of EFL culture, and KM at EFL – Of the People, By the People, For the People – were short listed for the presentation at the conclave. Eureka Forbes made a presentation on Rewards & Recognition practice in the final round at the GBN Road show held in Mumbai in June.
Marzin Shroff, CEO, Direct Sales represented the organisation and made a presentation on the best practices institutionalised in rewarding and recognizing the successful efforts of employees, referred to as Eurochamps.
He took those present through an informative and touching journey of how a Eurochamp from humble beginnings was moulded in the ethos of the Company of Earning, Learning, Pride and Fun, thus getting transformed from a boy into a man. The rewards and recognition systems shared, covered various incentives and awards, monetary and others such as Own your Bike Scheme, the prestigious Champions Club to exotic places abroad, the Silver Circle Club of top sales performers and membership to the Hall of Fame.
There are also National Awards in multiple categories like Best CRC (Customer Relationship Centre), Best Division and MD’s Award for Best Region. Euro Biographies were touched upon, as also the development of Making of a Champion which was accepted as a case study at Harvard, USA.