Innovation is one of the most important competitive advantages for Fortune 100 companies in the technology sector. If you’re not first with a new technology, then you might as well be last. In two recent examples, Virtual Incentives, a company that provides prepaid solutions to help businesses connect with their most valuable employees, customers and partners in ways never before possible, had to rise to the challenge for Fortune 100 companies who wanted to reward employees instantly for their contributions to company innovation. How did we do it? Employees were notified instantly by email and given a code to use their prepaid card instantly; or they could request a physical card that is mailed to them, immediately. Does it work? Did it ever. Here are case studies to prove it.
- CASE STUDY #1: Needed a reward that was fast, cash-like and “cool” to reward employees who developed new software enhancements for their platform. This Fortune 100 Company had to stay at the leading edge of the highly competitive area and encourage the best and brightest. Instant cash was rewarded for each entry submitted. Virtual Incentives’ Virtual Visa provided instant gratification through an email that was personally branded. The company saw a record number of approved enhancements.
- CASE STUDY #2: Wanted to show appreciation to employees who worked in Enterprise Services and went above and beyond the usual standards of their company’s innovation program. For employees who displayed leadership and as a reward for their achievements, they received a Virtual Visa instant reward that was also personally branded.
The lessons are when companies rewards innovation with new innovative prepaid solutions, it’s demonstrates how innovation is part of the company culture. Not to mention better for the environment because it’s also a “green” solution. Both of these programs were developed and executed by Virtual Incentives whose Incentive’s prepaid platform is powered by a simple, customizable virtual solution that closes the gap between achievement and rewards, rebates and offers. Would you like to reward employees instantly in your company who contribute to innovation and make a difference with prepaid solutions? Would it provide a meaningful competitive advantage for your most important company asset, your people?