We’ve heard a lot about the need for employers to recognize and reward employees, to be employers or choice, to have a strong employer brand. We’ve heard how important it is to reward employees to attract the best, particularly during the boom times when there is high employee motility, and equally we have heard that it is important to reward employees for retention and motivation during a recession.
The employee rewards industry – which is a multi-billion dollar giant in the United States – is fast growing on Australian shores as well. Companies that provide other companies with systems and processes aimed at rewarding their employees – and making massive profits themselves.
The average reward system for a company of up to 500 employees can cost over $100,000 just to implement – and that’s before you spend a cent on actually rewarding your employees.
Now, there’s a group of talented young Sydney-siders who are turning the employee rewards industry on its head. Ben Thompson and Nathan Kitchner from Power2Motivate believe that every employee deserves to be part of a rewards program. So much so, that they are putting their money where their mouths are in these recessionary times. They offer employers a free online platform to administer their rewards system. Employers then need only buy rewards points and allocate them to their staff.
“We wanted to make rewarding employees cheap, easy and effective, so much so that the same platform can be used by a small business as a multinational,”
“We have not scrimped on any of the features either, as we have been able to use 15 years of product development from North America as the basis for this system,”
“Employers are able to publish newsletters and bulletins, access a rewards gallery with over 1,000,000 different rewards, run “rewarded”
“We are continuing to grow our business at a rapid rate because so many companies are discovering that rewards are important to building their company culture, maintaining engagement and increase productivity, but they are also discovering that the traditional approaches to rewards system – that have cost upwards of $100,000 before you start – don’t offer as good a return on investment to a free on-demand platform,” said Thompson
“And of course, we use our own platform,” said Kitchner.
