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Life-Service: Incentive Program and Career Project for the Life Financial Group


The project allowed the design of a new effective motivation system together with employees who are immediately interested in its successful functioning.  

Objective: 

To develop a new motivation system in the cluster ‘Life-Service’ based on the values ​​of the Life Financial Group.


Scope: 

  • over 160 employees of the cluster ‘Life-Service’ in four Russian cities (Moscow, Saratov, Kaluga, and Yekaterinburg) participated in the project,
  • 719 proposals and suggestions, 
  • over 1500 comments,
  • 175 proposals selected for the final evaluation;
  • Winning Top 12 ideas and Top 13 participants.


Duration: 

From September  November 2011.


Outcome:

  • A new effective motivation system is designed together with employees who are immediately interested in its successful functioning,
  • Involvement of the employees into the process of ongoing improvement of the motivation system, increasing loyalty.  

Within the framework of the project, requirements for an ideal incentive program and employee incentive program models were developed; the best practices of analogous Russian banks were studied; problems of the current system of career development awards were identified; and proposals to address the problems were developed and elaborated.

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We have found solutions not only to our major business challenge, but also to many others.

Aleksey Pirogov
Vice-President of Banking and Information Technologies for Life Financial Group