The family-owned conglomerate with its roots in property, Stan Group, has launched Buy-a-Brick, an incentive and recognition programme that provides employees an opportunity to share the future capital gain of a building, without making any monetary contribution.
A 'brick' is a digital token stored on blockchain, which represents a contract for a selected building. If the property selected by the brick holder is sold, he or she will be entitled to the profits.
Aiming to motivate staff engagement in innovation and cultivate intrapreneurship, Buy-a-Brick is the latest addition to Stan Group's existing credit system, where employees earn points through means such as innovative business pitches, business referral, attending design thinking workshops and other talent development workshops.
There are two types of points — Credit Point and Shared Value Point. Employees can redeem Credit Point for vouchers, a night in hotel, or a day off, while Shared Value Points can be used to redeem a 'Brick' at Buy-a-Brick.
“I believe every one of our staff members plays an integral role in the group’s success and should be able to reap the reward and share the value created,” said Stan Tang, chairman of Stan Group.
“Buy-a-Brick started with a dream, through matching the idea with resources within our business ecosystem. It is now a reality. I hope to ignite innovation and initiate change within and outside the group and shape a better future for entrepreneurs and all.”