In conversation with Sourabh Deorah, Co-Founder & CEO, Advantage Club – a global employee engagement platform
- Advantage Club has emerged as one of India’s prominent HR tech startups. Please tell us how you came up with the idea to launch this platform and take us through your initial journey
Prior to founding Advantage Club, my Co-Founder and I experienced remarkably low attrition rates during our tenure at Microsoft in the US. Intrigued by this, we delved into the reasons behind it. We discovered that employees stayed for an average of five years, an unusual longevity in the tech industry. Through conversations with peers and seniors, it became evident that employees felt valued and supported by the company through all challenge.
Furthermore, witnessing the perks and privileges that Microsoft employees enjoyed globally, we pondered why we couldn’t bring the same concept to the Indian market. The initial idea emerged to unite small and medium-sized companies, offering them comparable benefits as those provided to Google or Microsoft employees in the West. This approach continued for a few years. However, our journey evolved, leading us to serve mid to large corporates, expanding our offerings to encompass culture building, employee benefits, and more.
- Please tell us about the tech innovations that you have implemented for greater benefits of employees and how it helps in retaining the employees
We provide more than rewards and recognition, like communities, online game zones, and a common platform like hobby clubs, to build a culture in which people are able to interact and play games together.
Our newly launched Onboarding platform is the outcome of thorough research and a deep understanding of the needs of newly hired employees. As part of our financial wellness initiatives, we introduced Advantage Card for Tax Saving, supporting our clients in providing financial assistance to their employees. Innovations like FlexBen offer hyper-personalized health benefits, while Advantage Care includes an Extensive Health tracker, fostering personal wellness goals and encouraging a fun and engaging fitness experience among employees.
Through our platform, any company can instantly recognize an employee’s efforts. When employees redeem points across various brands on our platform, they receive instant voucher gratification. These products enhance the employee experience and foster a stronger affinity towards the company.
- How does AI & ML help employers to make smarter choices in hiring talent and how organizations benefit from this innovation?
We assist our clients in leveraging technology not only for recruitment but also for retention purposes. By providing a structured approach, we help them effectively reward high performers and determine suitable benefits for outstanding teams and individuals. This involves thorough analysis, considering individual and team preferences, as well as industry-wide employee preferences. Our tech tools, incorporating AI and ML, generate algorithms to guide clients on whom and when to recognize, along with optimizing employee benefits. Additionally, we offer comprehensive analytics to evaluate team performance and provide guidance on enhancing engagement initiatives and mitigating attrition risks.
- Please tell us about your funding and what makes investors bullish about Advantage Club.
To date, we have secured a funding of USD 7 million, capturing investor attention for several distinct reasons. Firstly, we are building a highly esteemed user base, known for its premium quality, not only in India but across global markets. Our focus on the salaried class and above positions us ideally within the target demographic for any business. Additionally, our engagement metrics surpass typical B2C platforms. Our solution addresses global challenges, further enhancing our appeal. Other factors contributing to our success include our cloud-based SaaS model, impressive retention rate, and minimal corporate churn. Consequently, Advantage Club presents a compelling vision for foreign investors.
