Tenure Launches Beta Platform to Tackle Canada’s Productivity Challenges

Collingwood, Ontario, Canada – August 7th, 2024, – Tenure, an innovative leader in hyper-personalized employee rewards and benefits, announces the launch of its new beta platform. This cutting-edge platform aims to address Canada’s critical productivity issues by enhancing employee engagement and productivity through customized recognition and financial wellness tools.

Tackling Canada's Productivity "Achilles Heel"

Bank of Canada Governor Tiff Macklem recently highlighted Canada's productivity problem, describing it as the nation's "Achilles heel." Despite strengths in the job market, such as high labor force participation, strong immigration, and a solid education system, Canada lags in business investment per worker compared to the United States. Macklem emphasized that increasing output per worker is essential for non-inflationary growth and higher living standards.

Empowering Businesses with Cost-Effective Workforce Investment

Amidst concerns about low business investment per worker in Canada, Tenure offers an affordable way for companies to invest in their employees. The platform is designed to maximize returns on minimal investment by focusing on individual employee needs and preferences, thereby boosting morale and productivity. This isn’t just for businesses with full-time employees, it’s for contract workers, part-time and seasonal workers as well. It’s an adaptable product that helps give business valuable insights into what truly motivates their teams, be it in office, remote or hybrid work environments. By offering customizable rewards and financial wellness tools, Tenure helps businesses retain top talent and increase output per worker without significant financial outlay.

Building on Behavioural and Financial Psychology

Tenure’s platform is built on the principles of behavioural and financial psychology, which are key to fostering a happier and more productive workplace. The platform allows employees to receive personalized rewards that align with their goals and preferences, thus enhancing their sense of recognition and value. Additionally, features like automated savings, cashback, and goal-setting tools are designed to reduce financial stress, further contributing to workplace satisfaction and overall well-being.

Jonathan Hillis, CEO and Co-Founder of Tenure, remarked, "Our platform is designed to provide meaningful recognition and support to employees, encouraging them to achieve both personal and professional goals. This, in turn, helps companies improve productivity and retain talent, addressing the very issues highlighted by Governor Macklem."

Key Features and Benefits of the Beta Platform

The beta platform includes several critical features designed to enhance productivity:

Automated Savings and Cashback: Facilitating effortless financial management and savings for employees through rounding purchases and earning cashback where they spend

Hyper-Personalized Rewards: Customizable rewards tailored to individual preferences, fostering a deeper sense of appreciation and motivation. Employees submit their savings goals on the platform. For example, their kids sports fees, an engagement ring fund, paying off student debt. The possibilities are endless.

Long-term vision to empower Employees with Comprehensive Benefits: The platform building a long-term opportunity for peer-to-peer recognition, health benefits, matching programs, health care spending accounts, and more. Uniquely, it empowers employees to decide how these programs operate and allocate funds, giving them greater control over their well-being and benefits.

These features align with Macklem’s call for improved business investment in workers to boost productivity and support non-inflationary growth. By leveraging advanced AI and machine learning, Tenure’s platform offers a scalable solution that can be adapted to various industries and business sizes.

Addressing a National Concern
The issue of low productivity is a significant concern for Canadian policymakers and economists. As Macklem and other experts have noted, low business investment could lead to depressed living standards if not addressed. Tenure’s platform provides a timely solution, helping businesses invest in their workforce and increase output per worker.
Jonathan Hillis added, "We are excited to launch this platform in Canada, where improving productivity is crucial for economic stability and growth. Our mission is to support businesses in recognizing and rewarding their employees in ways that promote long-term success and satisfaction."

About Tenure
Tenure is a pioneering company in the field of hyper-personalized employee rewards and benefits. Founded by Jonathan Hillis in Collingwood, Ontario, Tenure is committed to enhancing employee engagement and productivity through innovative solutions. Tenure has been named one Canada’s Top Companies and Startups For more information, visit tenurefi.com.

Media Contact
Jonathan Hillis
CEO & Co-Founder

Tenure
Email: [email protected] 

Website: tenurefi.com