Many employees in Canada are unhappy or otherwise disengaged from their work, a negative situation which can drag companies down.
But the notion of investing more into staff is gaining steam throughout the nation.
A Canadian startup founded in Ontario last year is applying artificial intelligence technology with an aim toward improving workplace cultures and employee engagement.
Using a mobile app and digital fintech platform, Tenure provides a platform for employees to engage, be recognized, and earn rewards.
After participating in the fourth cohort of the Innovate Financial Health Lab in 2023, the Collingwood-born platform this month announced the launch of a new beta platform targeting a chink in Canada’s economic armour.
Despite strengths in the job market, such as high labour force participation and a solid education system, Canada lags in business investment per worker compared to the US, Tenure notes.
Meanwhile, increasing output per worker is critical to foster non-inflationary growth and higher living standards in the country, according to Bank of Canada’s Tiff Macklem.
Perhaps these are two sides of the same token.
Built on principles of behavioural and financial psychology, the team behind Tenure believe they offer an affordable way for companies to invest in their employees with a platform “designed to maximize returns on minimal investment by focusing on individual employee needs and preferences, thereby boosting morale and productivity.”
“Our platform is designed to provide meaningful recognition and support to employees, encouraging them to achieve both personal and professional goals,” says Jonathan Hillis, cofounder and chief executive. “This, in turn, helps companies improve productivity and retain talent, addressing the very issues highlighted by Governor Macklem.”
Features for workers include purchase rounding, cash back, and personalized rewards.
Tenure says its platform targets full- and part-time employees as well as seasonal and contract workers, functioning for both physical and remote teams.
“We are excited to launch this platform in Canada, where improving productivity is crucial for economic stability and growth,” Hillis stated. “Our mission is to support businesses in recognizing and rewarding their employees in ways that promote long-term success and satisfaction.”
