RECOGNITION PROGRAMMES
e-currency launched to motivate and reward employees
Peoplevalue, the e-commerce based employee benefit and motivation company has launched an online motivational awards currency, branded Value Points which can be spent on its web site.
Value Points form part of the company’ s Excellence Awards scheme, providing employers with an "easy-to-manage reward currency", which they can purchase from Peoplevalue and allocate to eligible employees.
Value Points can be awarded as part of a recognition programme, long-service awards, suggestion schemes, employee referral and so on. According to Mike Morgan, who is managing director of Peoplevalue, the scheme provides an inexpensive alternative to vouchers.
A final word
Value Points are designed to provide employers with the means to reward staff through a channel other than traditional cash-based systems. This ensures that the employees rewarded actually do reward themselves, because they are obliged to spend the e-currency on lifestyle products. The more traditional cash rewards are typically deposited into a bank account and are readily consumed by existing borrowing, overdrafts or monthly bills. - Mike Morgan, managing director, Peoplevalue.
Want to know more?
EIR Benefits Limited was formed in June 2000 to develop an internet-based employee benefit service for companies "who are seeking different ways to provide staff incentives that engender loyalty, acknowledge achievement and, most importantly, attract and retain valuable and often business critical skills". Branded as peoplevalue.net, the service was launched in September 2001.
Its business is to provide online access to a number of services including a wide range of "life style" products at discounted prices.
For further information contact Carly Dayus at peoplevalue.net, tel: 01865 876696, email: cdayus@peoplevalue.net.
Posted 17 September 2002