We suggest to reward your colleagues for actively using PEERO APP and displaying your values in the daily work. These tips are based on our real customer experience that have been used by them. We are happy to learn from our customers and share the best practices with you.
It’s important to plan your budget on rewards and decide on the rewarding principles that would really motivate your employees. Our experience show that if you plan a meaningful rewarding system you can reach up to 40% more engagement in the system use.
Our suggestion to split these reward in two types: monthly rewards and “grand prize”. Some of these reward examples can fit to both types and plan these rewards in advance and communicate those to your colleagues when you launch PEERO APP.
Here are some tips from PEERO APP customers
of the benefits and perks they use:
Convert Peero’s to real monetary rewarding (yearly, quarterly)
This is one of the most popular benefits we see. You can decide on any Peero exchange rate you want and this will mean that you will actually implement a peer-to-peer bonus scheme in your organisation. The benefit of your organisation in this case is that it is very simple to administrate such a rewarding plan and you can actually plan the budgets properly and link the payout to your business results, e.g. if you don’t reach your overall financial targets you can add different exchange rate and still pay out some part of the bonus.
Here is an example. Your organisation has 200 employees. Monthly Peero limit is 200 Peero’s. Conversion rate is 0.05. That means that 200 Peero’s are actually 10 euros that your colleagues can use to reward others during the month. So in total your monthly rewarding budget it 2000eur, or 24tk within a year or 120euros per employee during the year.
Extra holidays (monthly)
Well these will also cost you something, but still much less than a monetary rewarding. Most typical way how Peero customers use this perk is to give this extra holiday for a winner of certain value. So the person who has received the most transactions during the month for one of your values, can get this “value day off”. We’ve seen customers giving diplomas to these colleagues stating that they have earned this reward.
Trainings, courses, or assessments (yearly)
Some of our customers want the grand prize to give actual benefit back to the organisation so they award the yearly value ambassadors with the chance to attend some business relevant training, conference or courses or do assessments like DISC that would help the individuals to develop their strengths. When started our own Peero App journey, we decided that our value ambassadors will have a chance to attend Service Excellence training at Disney Institute in USA, and when they come back, they are actually our internal service excellence trainers.
Car parking (monthly/quarterly/half year)
It’s quite common that in the city downtown it’s challenging with finding a place where to park your personal car. Of course, this might be not relevant for all employees, but you know better your colleagues and if most of them use private car or would be glad to use it if they had a parking available, you can give this as a prize. You can even give it next to the office entrance and label it as “value ambassador car parking”
Monetary (for charity) (yearly)
Some people are motivated more when they can give a value back to the society. Few of our customers who already were supporting different charity organisations and they decided that those are actually their employees who can raise the money through out the year for the charity organisation that they want to support. So you should apply a conversion rate as described in “Monetary rewarding” example and at the end of the period your company would donate the money on behalf of your employees to the organisations they choose.
Extra Peero’s (monthly)
One of the most simple perks. Give a “Guest User” role to the winners of the month, so that during the next month they can share unlimited amount of recognition to their peers (if you have linked this with monetary rewarding, take that into account). This is more just as a nice gesture that the winner is rewarded and can be even more active next month.
Pica, cakes any other food for the value ambassador departments (monthly)
With Peero App you want your people to collaborate and appreciate the work of others. And base for the success is the team work. So don’t forget to reward the whole teams for being active in using Peero App. Check from analytics what departments are more diverse in value distribution and unity, reward them with some tasty surprises.
Lunch with CEO (monthly)
Ok, maybe we should wait while we can get back to the “normal” life, but this can be done online as well – send a lunch box to both parts and they can have a video call. Just keep in mind – someone should organise this and plan a spot in the calendar of CEO well in advance. If your aim is to have open culture and you want to break the borders of hierarchy this is a great perk to use.
Gift basket of your products (monthly)
This is a suggestion for those who produce something themselves. So why don’t you use it as a prize for your monthly winners?