Globoforce Further Expands Global Merchant Network in China
Globoforce ex*change now offers clients 2,000 global and street-level local merchants and reward options in 130 countries
China-based employees gain greater and more meaningful reward choices
SOUTHBOROUGH, Mass. and DUBLIN, Ireland - May 12, 2010 - Globoforce, the world's leading provider of global, strategic, on-demand employee recognition solutions, today announced that Globoforce ex*changeSM, its global merchant network, has surpassed 2,000 global and street-level local merchants and other reward options across 130 countries. As part of this growth, Globoforce has further expanded its reach in China. The expansion is designed to meet the growing needs and regions of the Company's current and future clients' employee recognition programs and remain at the forefront of the global economy.
Globoforce ex*change is based on the company's core philosophy of giving employees a customizable, individualized award experience based specifically on their location. The network is a SaaS technology platform that houses all global merchant options, helping clients easily and cost-effectively manage global merchandise selection, redemption, and delivery within their Globoforce strategic recognition and rewards program. Today, Globoforce ex*change encompasses more than 2,000 big-box and small business retailers, department and specialty stores, restaurants, and travel and hospitality merchants, as well as other reward options including charities, for its current 1.7 million users worldwide. With more than 25 million reward options, the network represents the world's largest selection of rewards.
In 2009 and 2010, Globoforce has seen many of its clients increase their business activity and personnel within Beijing, Shanghai, and the greater China region. As a result, the company took its core rewards strategy and fulfillment one step further by hiring a dedicated rewards and customer service team in China. Together alongside its China-based team, Globoforce worked with clients to add even more highly desirable merchant options from both local Chinese and globally-known, trusted, and popular brands.
Examples of new additions include:
- Joyo.com - online retailer with wide selection of books, music, videos, and electronics
- Rainbow Department Store (Tianhong) - a leading department store
- Suning Appliance - electronic appliance retailer
- Watsons - health, well being, and beauty products retailer
"A reward is only as good as the merchant that can redeem it. That's why we made the strategic decision to build the largest and most localized merchant network in the employee recognition industry in order to offer the most individualized experience possible," said Derek Irvine, Head of Strategic Consulting and CMO, Globoforce. "With our further growth in China, we are helping our clients further engage their increasing China-based employees by embracing their specific cultural and consumer preferences and upholding a workplace culture of appreciation and thoughtfulness. Our expansion, driven by our local relationships, also ensures that we will continue to offer a wide array of choices for employees with locally-relevant and personally meaningful reward options right where they live and work."
Globoforce ex*change is designed to make an employee recognition program seamless for global, enterprise-level companies. As with all other Globoforce-covered countries, the merchant network in China follows the company's same core principles and platform, giving both clients and employees the following advantages:
- Motivational, aspirational, and equitable rewards that appeal to every generation, style, and culture.
- Street-level local merchants comprised of relevant brands and stores that elicit passion among employees.
- Worry-free logistics, including transaction and sales tax compliance as well as guaranteed border-crossing with no additional customs, duties, or shipping charges, which are unavoidable for typical US and UK-based employee recognition providers.
- Socially and environmentally-responsible reward systems enabled by Globoforce's minimal shipping costs and small carbon footprint (due to its efficient gift card delivery model).
- Multi-lingual options for all global, national, and local brands and stores, including two forms of Chinese language: Traditional and Simplified.
- Unique, high-value small businesses, giving employees the opportunity to be true participants in their own local economy by supporting the shops and stores around the corner from where they live and work.