If you’re looking for an employee rewards platform to help your organization create and manage your employee recognition program, you may have considered Awardco. 

Having a rewards program shows your employees how much you appreciate their hard work and dedication. Whether celebrating accomplishments, commemorating milestones, or showing gratitude for continued commitment, gift-giving can foster a positive and rewarding professional relationship. 

What exactly does Awardco offer your organization? We’ve put together this Awardco review so that you can decide whether it’s the right platform for your company to use for employee rewards and recognition.

About Awardco

Awardco is a points-based employee incentive, rewards, and recognition program. It allows employees to use their points for rewards of their choosing. Gift cards, event tickets, and even getaway bookings are available to them. They can also redeem rewards through Amazon Business. 

You pick the type of reward that you want to send to an employee - spot award, milestone celebration, work anniversary, etc. Next, you allocate points to your employees on the platform, and they use these to redeem their chosen rewards.

Along with awards, Awardco offers several useful features.  

Key Features Of Awardco

• User-friendliness and the ability to integrate with other software are always pluses. These are key features of the Awardco system.

• Awardco offers several human resources information systems (HRIS) integrations and compatibility with top collaboration tools. That makes it easy to complement existing communications channels with the Awardco recognition system.

• If employees need more points for the reward they want, they can supplement their redemption with a credit card.

• Rewards have no hidden markups and reward redemptions give dollar-for-dollar value. That means you’ll get value for your money, and employees will get value for their points. 

• Awardco is a streamlined recognition program that operates globally. It’s ideal if you have a remote or hybrid workforce spread out worldwide.

• You can also create your own customizable company rewards program.  It allows you to offer unique rewards that match your business environment. 

• Want to set up a unique company swag store? Awarco makes this possible by offering your employees branded swag, office supplies, and coffee mugs. This helps foster a deeper connection between your employees and your brand.

Pricing 

There are five pricing plans in total split into two categories: SMB and Enterprise. 

SMB Plans

There are two pricing plans for small and medium-sized businesses (SMBs). 

• Lite: $2500 per year. With the Lite plan, you get automated service awards, automated birthdays, easy tracking and reporting, and manager notifications. 

• Go: $4000 per year. This plan offers all features of the Lite plan plus automated onboarding programs, peer-to-peer recognition, manager-to-employee recognition, value-driven recognition, and simple budget management.

Enterprise Plans

The three pricing plans to choose from are Core, Pro, and Plus. Prices are available on request. These plans offer various rewards, with tracking and reporting, and take two weeks to implement.

• Core: Onboarding, automated milestones like work anniversaries, and dedicated CSM included.

• Plus: Includes all Core features, plus extras like incentives, bulk recognition, and custom metadata.

• Pro: Includes everything in Core and Plus, as well as custom programs, catalogs, and integrations.

Pros And Cons Of Awardco

It sounds great so far. But like any rewards and recognition platform, Awardco has its share of both pros and cons.

✅ Pros

✅ Ideal for remote workers: Awardco is a global employee recognition program offering a wide variety of rewards and ships awards to your remote workers wherever they are.

✅ Recognition is not just top-down: You can show recognition to employees and they can do the same for their colleagues. Peer-to-peer recognition enhances collaboration and creates a happier workplace. 

✅ Donations to charities are also allowed to encourage a spirit of social responsibility.

✅ Fully customizable: Customize your rewards to suit your and your company's culture better. If you want to enhance this, Awardco also offers custom swag store possibilities.

✅ Physical gift cards: Physical gift cards are available if you want to spend your rewards at stores that are not geared to accept digital cards.

❌ Cons

❌ Points-based: Like many other rewards platforms, Awardco operates via points. Points-based systems are not the simplest rewards and recognition processes and can confuse employees. A dollar-based rewards system is easier to understand and can make a bigger impact.

❌ Some plans have limited features: Many features, including bulk recognition, a turn-key swag store, and SMS notifications, are unavailable on the Core plan. Several features, like the incentive and custom plans, are limited to Plus plan customers. 

❌ Can be expensive: Using Awardco can be a pricey option, particularly for smaller businesses and startups with budget constraints. 

❌ Plans take two weeks to implement: This isn't a dealbreaker for everyone. But if you’re under time constraints, waiting half a month to implement an Enterprise rewards system may be too long.

Who Is Awardco Best For?

The Awardco platform suits businesses and industries that want to implement a comprehensive and effective employee recognition and rewards program. Employee recognition is crucial in any business, and Awardco strives to meet small and large organizations’ needs. 

It may be a pricey option for new businesses, so it is more suitable for established ones. This option is especially suitable for creating a custom rewards program or company swag store using a cloud-based employee awards system.

If you’re looking for a similar platform that better meets your needs, have a look at the Best Awardco Competitors & Alternatives. 

Key Takeaways

Awardco’s range of awards, rewards, and incentives covers many categories for all workplace situations. Will this platform work for your unique business needs? It might, but if you are a start-up or small business, it might be a pricey option. Several key features, like bulk recognition, are also only available on more expensive plans. 

For an alternative that ticks all the boxes, give PerkUp a try. You’ll have a world-class rewards and recognition app up and running in next to no time. Your employees receive virtual, pre-loaded Visa cards to choose products, gift cards, and activities they really want. No points. No fuss.

Leading business owners and HR professionals trust PerkUp for employee rewards and recognition needs. Find out why by booking a demo today!