Reward points are a type of monetary reward that you can give to employees to show your appreciation for their work. It is a tangible form of acknowledgment where points have a monetary value attached to them. Employees can redeem points for their favorite merchandise, exciting experiences, and gift cards.
There are different methods to earn reward points:
- You can recognize star employees with reward points for showing exemplary performances.
- You can give points to employees for special occasions like festivals, birthdays, anniversaries.
- Employees can earn points for participating in and completing various challenges.
The point system in Vantage Circle is based on the Standard Of Living Index framework that automatically adjusts the monetary rewards as per the standard of living of the country employees live in. This makes the rewarding process fair and equal.
To start the rewarding process, all you have to do is upload points to the portal which can be then given out to employees. The points upload process is explained here.
