MONTREAL, June 26, 2018 /CNW/ - Rideau Recognition Solutions has received confirmation of a significant investment from a group of institutional investors led by Fondaction, a labor-sponsored fund with assets in excess of $1.8 billion dollars from more than 138,000 shareholders. The group has made similar investments in Rideau in the past, supporting the company over the years in its successful projects of innovation and expansion into new markets, regions and service areas.
The group's decision was based on the confidence it has in Rideau, its management team and the Vistance™ platform, which it believes is revolutionizing the way in which companies manage and optimize their workforce, nurturing cultures of engagement and, ultimately, benefitting employees.
"Rideau is at the forefront of its industry," says Stephan Morency, Deputy Chief Investment Officer at Fondaction. "And we firmly believe the human capital space is one of the most important drivers toward the wellbeing of our economy and corporate sector. When companies optimize their workforce with the power of recognition and the science-driven methods for which Rideau is known, then they could achieve goals beyond expectations. We're delighted to be a part of it and to watch Rideau help an increasing number of companies each day."
Rideau's Vistance platform uses a proprietary algorithm that leverages recognition and engagement data to calculate recognition effectiveness and perception while delivering the return on investment metrics that recognition programs are truly generating. Once the science and diagnostics are obtained, the Vistance solution offers prescriptive learning modules that create tailored education focusing on the individual needs of leaders, helping them better connect with employees. Through real-time data, Vistance allows companies to obtain an accurate picture of the current state of their business performance and identify insights that are tangible and actionable.
Compatible with almost all existing recognition programs, the Vistance solution also includes Rideau's latest innovation, the Recognition Quotient, or Vistance RQ™, a proprietary score for developing managers that is equivalent to the IQ score, but in the human capital space.
"The value of Vistance lies in its versatility and affordability, tailored learning modules, results that align with business objectives and years of data collection and insights harvested through our Rideau process and client experience," says Jennifer Lumba, chief marketing officer and managing director for Vistance Analytics & Learning. "Having a motivated, fulfilled and engaged workforce is no longer a mystery. The Rideau integrated platform takes clients through each key program area – regardless of where they are on their talent management journey."
Companies of all sizes turn to Rideau for greater 'Return on Recognition' – a philosophy and slogan that guides the company's entire suite of solutions, from social or peer-to-peer recognition platforms to incentives and service and performance awards.
"The past year has been an exciting one for us", says Peter W. Hart, CEO of Rideau. "We've won awards for innovation and shaking up the way employee recognition is used to change cultures and increase bottom line results for our clients. We're happy to count on the support of the financial community to do even more today, and for tomorrow, for the benefit of our client partners. This investment represents an important vote of confidence not only in Rideau, but the future of strategic human capital management."
Fondaction first invested in Rideau in 2001. Since then, Fondaction, together with other investors, has provided additional rounds of financing that have helped Rideau grow from 50 to close to 300 employees and earn a privileged spot among the top recognition program and solutions providers in the world.
About Rideau Recognition Solutions
Rideau leverages more than a century of experience in the recognition industry to reinvent the human capital landscape with a true Return on Recognition. Built upon award-winning, state-of-the-art technology and validated by years of clinical scientific research, Rideau's approach to employee recognition is transforming the use of recognition analytical data. With the use of proprietary analytics, Rideau is able to identify real-time opportunities to increase employee engagement, employee retention and customer satisfaction as well as identify the concrete, measurable return on investment that yields lower recognition program costs. Follow Rideau at rideau.com and on Facebook (rideaurecognition), Twitter (@rideau) and LinkedIn (Rideau Recognition Solutions).
Established in 1996, Fondaction is a labor-sponsored fund with assets in excess of $1.8 billion dollars collected as retirement savings from more than 138,000 shareholders. Fondaction's direct investments and those made through investment funds support the development of more than 1,050 small and medium sized enterprises in different lines of business, in large part involved in various components of the social economy. It is the financial partner of some 1,200 companies, and of partner and specialized funds. It focuses particularly on companies that have a participatory management structure, are involved in the social economy (self-managed firms, cooperatives or others), and are more environmentally friendly. Information at fondaction.com.
SOURCE Rideau Recognition Solutions
For further information: For pictures, interviews or additional information: Daniel Torchia, Torchia Communications, [email protected], 416-275-2151