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Why Build Internal Tool for Employee Rewards and Recognition

Well, you might be able to spare a few tech resources for 6 months or so to build your own Internal Tool for Employee Rewards and Recognition program, complete with different award types and a points-based reward system; especially if you are a large technology company!

You might also be able to include a redemption store with select products such as company-branded merchandise and gift vouchers.

Your line managers would be able to use the tool to reward their team members with points.

They can then redeem their points against the catalog of products, they receive through a third-party delivery partner.

Advantages and Disadvantages of having an internal tool for Employee Rewards and Recognition

What are the Advantages of having an Internal Tool for Employee Rewards and Recognition?

Determine What Systems Are Required

What are the Challenges of having an Internal Tool for Employee Rewards and Recognition?

How to Choose the Best Employee Recognition System for your Organization?

Also read: Why Switch from In-house Employee Recognition Platforms?

Bottom-line

In the short run, it might make sense to build your own employee rewards and recognition tool especially if you have the available resources, but in the long run, it might not turn out to be such a wise investment. You decide!

Sagar Chaudhuri

Lead author: Sagar Chaudhuri, the Co-Founder and CEO of HiFives. He is an HR Tech Evangelist with over 25 years of corporate and entrepreneurship experience. In the past, Sagar has worked in companies such as Genpact, Infosys, and ICICI Bank, in leadership roles. He has an engineering degree from IIT Kharagpur and an MBA from IIM Lucknow. Connect on LinkedIn

HiFives is a global employee rewards, recognition and engagement SaaS platform that enables organizations to digitize, automate and transform their employee experience. It is used by 100+ large enterprises, small businesses and startups in manufacturing, retail, technology, financial services and media, across 25+ countries.