(4 votes, average: 3.75 out of 5)
Loading ...Once you have determined that it would be nice to offer non-cash rewards to reward a good performance, the challenge becomes to manage those incentives.
That’s where IncentOne comes in. IncentOne offers simple solutions that can help a business drive results. The concept is simple; employees earn points for completing various activities. These points could be tied to an employee evaluation, or directly to sales performance. Employees then redeem those points for a reward which they can select from IncentOne’s portal.
When the employees log in, they will have access to information about the things they need to do to earn points. And, they can see how many points they can earn for each of the pre-defined activities. More importantly, they will also see how many points in total they can Receive.
Once they are ready to redeem their points, they can visit the “Rewards” section. This section is pretty intuitive; there are many categories from which they can pick various rewards. Gift cards, merchandise, travel packages… even charity donations!
The IncentOne’s portal is customizable; the content , layout, colors and the company logo can all be changed from the administration tool.
The milestones and related award values are also configured within the administration interface.
As one could expect, IncentOne provides role-based access to the incentive program. Different “roles” are created, with various access levels for each of the roles. For example, an administrator could change everything, while the program manager could be restricted from creating new programs.
Finally, IncentOne provides many reports, both standard and customized. If you want a summary by program, an activity report by gender, by age group, etc, it’s all there “out-of-the-box”.
Many companies already have an incentive compensation system in place. I have seen many of these solutions used to calculate who deserved a certain non-cash reward. The most common incentive program I have come across is a recognition award for top performers, sometimes tied to a trip or award ceremony. However, managing more complex non-cash reward scenarios, and figuring out where the rewards are coming from while giving the employees the flexibility to choose what they want is often a big challenge.
IncentOne can integrate with sales performance management systems. The number of points could be calculated by the SPM system, and received by IncentOne for redemption. IncentOne is also an attractive solution because as with other solutions, its cost is based on the number of employees in the system per month. The standard configuration is also fairly quick and intuitive, which is different than the relatively high price-tag of an SPM solution implementation.
If you are looking at introducing non-cash rewards in your incentive strategy, I think that IncentOne is worth looking at.
Recent Comments