The monetary awards in Vantage Rewards are based on the points-based reward system. These points are tied up to a specific monetary value. Employees can redeem these points for merchandise and gift cards.
There are two types of monetary awards in Vantage Rewards: Normal awards and panel awards.
Normal awards are the monetary awards that have no voting system whereas panel awards are given based on votes.
To configure a normal award, open the Vantage Rewards Dashboard and click on the Vantage Rewards tab on the top header menu. Head over to Configuration in the left sidebar and navigate to Manage Awards.
Here, you have to fill six sections to create an award.
Information: Specify the award name like “Employee of the Month” or “Standout Performer” and describe the award in the Award Description section. You can also add hashtags which are company values that you want to recognize. They will appear on your feed. Click on Next Step.
Award Type: Here, define the kind of award you want to create. Click on Normal Awards and go to the Next Step
Configure section: Enter details like the reward denomination, country of the recipient, and the type of approver. Click on Next Step.
Customize section: Set award images and a background for the award created. You can either select the default images that are preloaded in the portal or have your customized image as per the specified size. Click on Next Step to go to the Added Feature section.
Added Feature section: This is an optional section where you can further customize the award with filters, grade groups, etc.
Review section: This displays the preview of the award with all the specifications. Click on Submit to create the monetary award.
