Well, you might especially if you are a large technology company and you can spare a few tech resources for 6 months or so, you might be able to build your own in-house R&R tool complete with different award types and points based reward system. You might also be able to include a redemption store with select products such as company branded merchandize and gift vouchers. Your line managers would be able to use the tool to reward their team members with points; team members can then redeem their points against the catalogue of products which are finally delivered by a third-party vendor.
Simple enough! So what are the advantages?
- To start off with, the tool seems to come at no incremental cost to the company
- It is completely customized with the company branding and the required workflows
- It might integrate better with existing corporate systems and the intranet
- Since the tool is managed by an internal team, making changes seems easy
Sounds great? Are there any challenges?
- Resources for building and maintaining internal tools might not be as easy to get and they might come at some (opportunity) cost internally
- Internal tools might lack the flexibility for making changes for future requirements
- They might not incorporate best practices from the industry (they might just get stuck in time)
- Choice, convenience and experience might be compromised especially when it comes to redemption
- It might take a lot of bandwidth from the HR team to manage the tool and the entire process in-house
Taking a balanced view of things; while in the short run it might make sense to go ahead and build your own R&R tool especially if you have the available resources; but in the longer run it might not turn out to be such a wise investment. You decide!