A mobile application to facilitate connection, retention and motivation of employees

Abstract

Connect is a digital employee value proposition that offers near-real-time telemetry of employee performance and achievements that companies can use to structure their incentives to align with the specific motivations of each of their employee segments instead of assuming a one-size-fits-all approach. The value to the business is created through an enhanced perception by the employees that their employer understands their individual motivations that will contribute to their feeling that the work in which they are engaged has meaning and that they are being recognised by their peers and management for their contribution. The visibility offered by Connect of individual employee achievements fulfils their need for external recognition and fosters an environment of enhanced contribution which will contribute to the company’s sustained competitive advantage by increasing the overall levels of engagement of the workforce and drive additional productivity. The intention of the platform, additionally, is to provide employers with data that can be used to augment the current performance management practices, such as the 360-degree feedback tool to provide a record of continuous delivery that can be used to substantiate their current reward structures. The platform will be marketed as a white labelled product and licensed to companies through a reseller on an annual basis. The cost per user license will be kept static up to 1000 users which will enable smaller organisations to have cost-effective access to the product; enterprise licenses above 1000 seats will be determined on a tiered basis, thus making the proposition equally attractive to larger organisations. The software will exist in two instances, namely: 1. A generic cloud-based platform which can be used as an off the shelf solution. 2. A customised instance of the system that can be hosted on a dedicated server that will enable bespoke integration and incorporate additional security protocols. The venture is expected to cost R400 000.00 to develop the MVP, and an investment of R160 000.00 is required. The Return on Investment (ROI) after 5 years is expected to reach 810% or R 1 296 000,00, with payback occurring within two and a half years. Wits Business School Master of Business Administration 7 This business venture proposal outlines the unmet need in the market as well as the proposed solution and the pricing information that will make Connect an attractive addition to a mature organisation’s value proposition. The intention is also to assess the proposition's feasibility in terms of theoretical underpinning which has provided a foundation for the development of the Minimum Viable Product (MVP) for the digital platform. It also serves as a tool for understanding the complexity of the system in terms of the development of a lean business start-up, innovation accounting as well as the process and cost of bringing this product to market.