BetterWorks – Better Incentives for More Productive Employees

BetterWorks is a platform that companies of all sizes can use to track the benefits, incentives, and perks they’re offering to their employees. Whether a company is giving everyone free access to a new local gym, fun prizes for the top earners in each department, or coupons for lunch at a neighborhood taco joint, BetterWorks is a tool that can help companies manage the rewards they’re offering to their stellar employees.

Because BetterWorks is still relatively new, it’s not available for businesses nationwide just yet. The service is currently only available to companies in Southern California, however it plans to launch in San Francisco, New York, Chicago, Washington DC, Houston, San Diego, Miami, and Dallas within the next few months. Assuming your business is located in an area where BetterWorks is live, getting your company set up is easier than you may expect. Just enter your zip code and company information to begin. Once you’re signed up, you can designate how much money you’d like to spend on perks for each employee, invite said employees to participate, and let your employees start reaping the rewards. BetterWorks handles all the negotiations with local gyms, restaurants, and service providers on the behalf of its clients, so you don’t have to worry about calling around town looking for a gym that’s willing to offer your staffers a 20% discount.

Businesses that use BetterWorks can reduce the cost of their current perks plans while boosting employee morale and increasing retention rates at the same time. The platform itself charges companies $4 per employee, per month, with no month-to-month commitment. Although that can sound like a lot of money up front, it pales in comparison to the cost of hiring and training new employees on a regular basis while your rock star staffers defect to competing businesses with better perks and incentives packages.

Practical Uses:

• Offer great perks and discounts to your employees
• Retain staffers by offering rewards they can’t get at other companies
• Spend less money on the employee perks and rewards you already offer
• For vendors, get noticed by more consumers who fit your target demographic

Insider Tips:

• BetterWorks negotiates perks at a 15% to 70% discount for employees
• Vendors can sign up to offer discounts on their services to participating BetterWorks companies
• Employers pay a flat rate based on the number of employees in their office
• Live chat support is available for companies that need help getting set up

What we liked:

• Employees who work at companies that use BetterWorks can get discounts on all types of local goods and services
• Offices that are known for having great perks attract better job applicants
• Businesses that use the platform will have an easier time retaining employees
• Employees are more willing to work hard when they have an incentive for doing a good job

What we didn’t like:

• BetterWorks is currently only available in Southern California

Alternatives:

• None

Company Info:

• Launched: February 2011
• Privately Held
• Headquarters: Santa Monica, California
• Founded by: Paige Craig, Sizhao Yang, and George Ishii
• Web site: http://www.betterworks.com

Costs:

• Very Small Biz plan is $30/month
• Small Biz plan is $75/month
• MidMarket Small Biz plan is $200/month
• MidMarket Large Biz plan is $500/month
• Large Biz plan with custom pricing, starting at $1,000/month