Workplaces switching to digital collections to recognise staff leaving
Fintech Collection Pot has revealed a sharp increase in people collecting for colleagues leaving the workplace. Around 90% of all digital collections set up through Collection Pot in 2021 in January and February were for leavers. Job switching generally is on the up in the pandemic with 6.1% of people changing their jobs in the first six months of 2020. Half of these people changed not only their jobs, but their industry too.
As well as people leaving their jobs, the pandemic has also changed how we work. Almost 50% of the workforce did at least some home working in April 2020, 86% of which was as a direct result of the pandemic.
This home working culture and difficulty in staff being able to contribute to an office collection in the traditional way means some leavers could miss out on being recognised and rewarded for their work said founder of Collection Pot Wendy Carter:
“Before Collection Pot, someone would get an envelope and we’d all put money in and sign the card. Nowadays, that isn’t possible with the majority of people working from home, and teams spread out. A person may be leaving their job for one of many reasons, but it’s vital that the person’s contributions to the business are recognised and colleagues have the opportunity to give their best wishes.”
Collection Pot is a digital way to collect in virtual ‘Pots’ in place of cash, with people able to donate via a shareable link and leave a digital message. Once the Pot closes, the recipient can redeem their Pot with a range of gift cards, many top brands, local Town and City Gift Cards, or to their Visa debit card. People can also set up Pots using Microsoft Teams.
The group collecting platform launched in early 2019 with workplaces in mind said CEO Wendy Carter:
“In the corporate world, there is always a collection of some sort on the go, for leavers but also birthdays, weddings and babies. Most aspects of the business world had advanced due to technology, but collections was an area stuck firmly in the dark ages.”
Billed as a ‘fintech for good’, Collection Pot introduced their partnership with Visa Direct, launched in Microsoft Teams and expanded into Ireland in 2020.
“The power of a thank you, a well done or a congratulations shouldn’t be underestimated,” said Wendy. “I’d suggest that it’s just as important to say thank you to an employee who is leaving. Now more than ever workplaces need Collection Pot so they can help teams stay engaged, connected and keep the culture of positivity, acknowledgment and reward alive.”