Monetary awards in Vantage Circle are points-based recognitions with monetary value, granted to employees to acknowledge exceptional performance, achievements, or alignment with organizational values. Employees can redeem these points for various options available in our global rewards catalog.
Only individuals with nomination privileges (leaders, managers, or employees) can grant these awards.
Vantage Rewards has three types of monetary Awards:
- Standard awards,
- CSV Awards, and
- Panel awards.
Standard Awards are monetary rewards given without a voting system, where budget holders nominate and recognize individuals or teams.
Click here to learn how to configure Standard awards.
CSV Awards allow bulk processing of rewards, enabling you to distribute reward points to a large number of employees at once by simply uploading a single CSV file.
Click here to learn how to configure CSV awards.
Panel Awards are a collaborative reward system where winners are selected through collective voting by a panel of approvers. These awards operate for a specified time period, during which the panel evaluates and votes on nominated employees.
Once the winner is finalized, the reward announcement is immediately posted on the Vantage Rewards social feed. Panel Awards ensure a transparent and inclusive approach to recognition, allowing managers and leaders to actively participate in the decision-making process.
Click here to learn how to configure Panel awards.
