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“Start with good people, lay out the rules, communicate with your employees, motivate them and reward them. If you do all those things effectively, you can’t miss.” – Lee Iacocca
The longevity of the reward system has proven its worthiness, and it is human nature to not only respond to incentives but also to welcome praise.
In kindergarten, a simple gold star on a handwriting exercise filled us with pride and joy; in college, an A on a term paper motivated us for weeks.
Out in the real world, a salary raise or a year-end bonus erase all our complaints about our boss. No matter how old we are, positive reinforcement works, and tech start-up AnyPerk is helping employers reward their employees with more than just traditional compensation.
Taro Fukuyama and Sunny Tsang, the co-founders of AnyPerk, believe the key to a successful company is a relaxed, cheerful work force that feels recognized for its teamwork.
AnyPerk, which was founded in 2013 (Fukuyama and Tsang created the concept in a Taco Bell parking lot), is having a very good year. It is not only one of the 100 Brilliant Companies featured in the June issue of Entrepreneur Magazine, it also received a Series A investment of 8.5 million dollars in February, and is currently, as Fukayama states, “enabling happiness” for over 1,000 U.S. companies.
“Most of the time when people are feeling disengaged, it’s because they feel their manager or the company doesn’t appreciate them,” he explains in Entrepreneur Magazine. “Big companies like the Googles and IBMs of the world can negotiate deals and discounts directly with vendors.
We provide a valuable service—and economy of scale—for everyone else.” It’s a very simple concept, not to mention an inexpensive one: AnyPerk costs between $7.50 and $10.00 for each employee, per month; the larger your company, the less you pay per employee.
When you register your company, you gain access to a treasure trove of perks. Your Human Resources associate can pick and choose which perks to pass along to employees; some of the categories are: Fitness, Home & Local Services, Travel, Restaurants, Clothing, Kids, Electronics, Sports & Outdoors, Automotive and Home & Pets. All the transactions occur online: the employee is gifted the perk options online; he/she chooses a perk online; and then he/she redeems the perk online. It’s a seamless and paperless system.
Your membership includes an analytical tool, so HR can determine if your employees are enjoying the discounted movie tickets, special rates for Broadway shows, discounted Oakley sunglasses or special rates on trips to Las Vegas, and you can then cater their rewards based on what’s most popular. There will soon be a feature that allows employees to swap rewards of equivalent value.
If you’re an employer who believes in a company culture that rewards hard-working, goal-reaching employees, AnyPerk seems like a valuable tool for your company. There isn’t much debate among CEO’s that a happy workplace becomes a productive workplace; productivity leads to increased sales, and increased sales lead to a higher profit margin for you.
If you remember how great it felt to receive that gold-starred kindergarten homework, just imagine how terrific it must feel to be given a discounted gym membership or special rates on cell phone service for quality work.
AnyPerk offers CEO’s an easy way to utilize the concept of positive reinforcement, and in a business world where competition is high for dedicated, skilled employees, positive reinforcement for employees could be the key to your company’s future.
THE AUTHOR OF THIS BLOG ARTICLE IS NOT A LAWYER AND HARVARD BUSINESS SERVICES, INC. IS NOT A LAW FIRM. THE ARTICLE ABOVE IS NOT INTENDED AS LEGAL ADVICE AND SHOULD NOT BE TAKEN AS LEGAL ADVICE. THIS SHORT ARTICLE IS STRICTLY TO MENTION SOME ASPECTS OF DELAWARE’S CORPORATION LAWS AND/OR LAWS RELATING TO OTHER FORMS OF ENTITIES WHICH YOU MAY NOT BE FAMILIAR WITH. WE RECOMMEND THAT YOU CONSULT WITH A LAWYER BEFORE FORMULATING A STRATEGY WHICH WILL BE SUITABLE FOR YOUR SPECIFIC CASE.