Staff input helps I Love Rewards soar during economic downturn
All staff members rate and vote on strategic objectives
Tuesday May 5, 2009 -- Camille Jensen
I Love Rewards CEO Razor Suleman credits the company’s philosophy that “no-one is smarter than everyone” for helping the Toronto employee recognition firm soar to new heights despite tough economic times.

The company announced record growth in its first quarter, reporting a 187 per cent increase in gross billings year over year for the 13-week period ending March 31, 2009.

Achieving high growth rates in a climate that would seem less tolerant to employee incentive programs is attributable to both the product and staff buy in, says Suleman, who for the first time asked everyone in the company to participate in planning the company’s objectives.

The process was conducted as part of I Love Rewards annual two-day retreat. Unlike previous years where Suleman would communicate the company’s master plan — a two-page report that outlines where the company will be in one year — he decided to open the process to hear from staff members.

“Although I get a lot of input from my board and my senior leadership team before I author the master plan it is still the input of seven or eight people,” explains Suleman.

“Well there is 27 people in this organization who are aligned — everyone is an owner, everyone has stock options, everyone is engaged and wants us to create a great company . . . and I want to get everyone’s input.”

The plan was divided into 40 objectives and staff members were asked to rate each initiative in order of importance. From the list, 70 per cent of the items were kept, while approximately 30 per cent were set aside for a different time.

By having everyone participate in the planning and offering their input, Suleman says work has not only been more fun, it’s resulting in real gains for the company.

I Love Rewards is reporting a 253 percent increase in new customer acquisitions during this quarter compared to the same quarter last year.

“It increases buy in. This is what everyone says is important and this is where we are going to be one year from now,” he says. “And six months later we are right on track.”

I Love Rewards is one of 40 companies recently awarded WorldBlu’s Most Democratic Workplace Award.

In addition, I Love Rewards has been named one of PROFIT Magazine’s Fastest Growing Companies, one of the Top 10 Technology Companies and a Top 100 Employer.

To learn more about the company, visit their website at www.iloverewards.com.

— More to come

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