by Rob Keys
Posted 8/6/2012 12:00 am
Updated 2 years ago
Launched less than three months ago, Rockfish Interactive's YouEarnedIt employee rewards platform currently counts about 70 companies as clients.
Judging by interest shown in the system at a recent conference in Montreal, that number is likely to go higher soon, said Autumn Manning, executive vice president of client services and business development.
The platform essentially allows co-workers to give each other points in recognition of exceptional work, extraordinary effort, etc.
Employees then can redeem the points for items ranging from restaurant gift cards to electronics or high-end items like designer shoes. One company even has a Porsche in its catalog.
The idea stemmed from Rockfish Rewards, an internal program that started so managers weren't the only ones handing out bonuses or other forms of recognition.
"This allows you to put that power in your employees' hands," Manning said.
YEI recommends awarding each employee a set amount of points to distribute each quarter. It also recommends equating one point to one cent so rewards will reflect the retail value of a particular item.
The system is supported by research that shows employee recognition is vital to a healthy corporate culture. Users track their points via a dashboard, and administrators can track real-time data through an analytics system.
And while the basics are the same regardless of the size of the company or the amount of money committed to the prize pool, each system is customizable. The fee is 99 cents per user per month, and a free 90-day trial is available.
Manning said Rockfish CEO Kenny Tomlin is heavily involved in the platform, which has four full-time dedicated employees.