From restaurant discounts to a personal concierge, the newly launched Beyond Card offers a bit of a different way to reward the employee who goes the extra mile. Will it catch on?
There's been a lot of discussion about motivation lately. Bonuses have become a hot topic (although some, like Nigel Watson, race to their defence) and giving company shares to employees is a complex process most are trying to stay away from in times of a challenging economy.
All this discussion is alive because a happy team is a business's bread and butter. Unsurprising then that new ways to reward employees are rising on the horizon.
One of the more interesting ones is the Beyond Card. This newly launched experiment is similar to a loyalty card: it rewards the employee who goes the extra mile.
Beyond Card goodies range from all kinds of discounts (on holidays, restaurants, cinema, spas, etc.) and access to some 150 VIP airport lounges worldwide to – I kid you not – a personal concierge.
Using the Beyond Card comes with the employer paying a fixed monthly fee per user cost. How much this can be was not officially revealed, but the company states that the card is available for a minimum of £10 a month.
The price will depend on the user's requirements, for the card is built around a very flexible scheme. Businesses can configure their Beyond Card with certain benefits, their own branding or give different perks to team members according to their seniority.
The card is the brainchild of Penni Pike and Barnaby Lashbrooke. Pike, former assistant to Richard Branson for 32 years, played a significant role in the creation of the Virgin Group. Lashbrooke is the founder of the UK's largest virtual PA service, Time Etc.
Lashbrooke commented on the product: “We designed the Beyond Card to motivate employees and reward good work, but also to help employers stand out from rival firms, and attract the best candidates. The inbuilt lifestyle management service also means staff spend less time on ‘personal admin’ and more time on their work. Ultimately it’s about recognising the value of staff and keeping your best team members on side.”
Whether the Beyond Card catches on or not, benefit systems are keeping their role as an important part of employee motivation – and therefore business growth.
Would you use the beyond card? How do you motivate your team? Share your stories in the comments.