Rideau Recognition Solutions, Inc.
is expanding into China. The Quebec-based recognition company announced on Nov. 2 that it had reached an agreement on a joint venture with Foreign Enterprise Human Resources Service Co. (FESCO), a major provider of HR services to China. The new FESCO-Rideau brand will allow the Canadian firm to offer its range of employee rewards and performance-tracking solutions to the region while bolstering the Chinese company's employee recognition offerings.
Rideau's solutions will be marketed to FESCO's thousands of clients, including Chinese companies and multinational organizations with offices in China, through its existing channels, under the new joint brand. In addition to providing FESCO with its recognition technology platform and expertise, it will also provide training to the company's staff.
"We're thrilled to team up with FESCO to offer corporate leaders and managers in China the know-how and technology we've developed and curated over the years," said Peter W. Hart, Rideau CEO, in a statement. "Ensuring that employees feel recognized and incentivized in a way that supports key performance goals or corporate culture is crucial in an organization's overall productivity, business outcomes and even profitability."
Hart added that the teams, based in China and Canada, will provide Chinese and multinational companies with "higher-value solutions that not only enhance their current offerings, but also respond to local market conditions."
Hart signed the agreement with FESCO General Manager Wen Qing Shan and FESCO NST General Manager Edward Taion Nov. 1 at the Official Residence of the Canadian Ambassador in Beijing. It was part of the Trade Mission to China led by Montreal Mayor Denis Coderre, aimed at encouraging trade between the two cities.
This is the latest partnership for the Canadian recognition firm. In August, it acquire
d the corporate sales division of jewelry and watch retailer Birks Group, allowing it to provide Birks-branded products through its employee recognition platform. The partnership deepens Rideau's efforts to establish itself as an international recognition company, with a staff representing 39 nationalities and 23 different languages spoken.