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How a leading, global IT company rewards innovation

“Innovation transforms companies and markets. It’s the key to solving vexing social problems. And it makes or breaks professional careers. But for all the enthusiasm the topic inspires, the practice of innovation remains stubbornly elusive.” Harvard Business Review How do companies reward innovation? How to they encourage employees to contribute? And make it applicable in every office at a large multinational company? That’s the problem Virtual Incentives had to solve. We needed to find a solution to recognize innovation at a large, multinational IT corporation – on a personal basis, and to motivate and inspire. Here’s what we did.

  • The company had an innovation program that published content, regularly
  • A $50 Virtual Visa Reward was emailed to each employee who contributed content
  • Virtual Visa Reward allowed the company to easily reward contributions to innovation around the world
  • It was delivered via email that was branded, personalized and instantly redeemable
  • The reward gave instant recognition for content on innovation
  • It could be used anywhere online where Visa was accepted which is virtually everywhere
  • And it was environmentally friendly because it was distributed online

It might have been a small gesture but it had a big impact. The $50 reward for content on innovation was a simple and effective way for the company to put a priority on innovation and a practice that sticks. And it gave them a way to measure the contribution based the quantity and quality of the submission. As the quote from the Harvard Business Review says, innovation plays a critical role at companies but its practice remains stubbornly elusive. It is a lot less elusive at this Fortune 500 global IT company, now. How do you recognize and reward innovation at your company?

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Already know what you need? Enter the following pieces of information about who - and how - you want to reward and we’ll be in touch shortly to build an incentives program tailored to your needs.

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