Axiom News just posted a great article about WorldBlu List 2009 awardee, I Love Rewards, based in Toronto, Canada entitled, “Staff input helps I Love Rewards soar during economic downturn.” The democratic approach at I Love Rewards has significantly impacted their bottom-line, despite the global recession. Here’s an excerpt:

I Love Rewards CEO Razor Suleman credits the company’s philosophy that “no-one is smarter than everyone” for helping the Toronto employee recognition firm soar to new heights despite tough economic times.

The company announced record growth in its first quarter, reporting a 187 per cent increase in gross billings year over year for the 13-week period ending March 31, 2009.

Achieving high growth rates in a climate that would seem less tolerant to employee incentive programs is attributable to both the product and staff buy in, says Suleman, who for the first time asked everyone in the company to participate in planning the company’s objectives. . .

Read the full article here and learn more about I Love Rewards best democratic practices here.