At the onset of the pandemic, Lendio needed to dramatically scale their workforce in a matter of months. This presented many unique challenges of onboarding, training, and incentivizing huge numbers of new hires, and they turned to Awardco to help.
Before Awardco, Lendio rewarded their employees manually, usually through a service like Venmo, and kept track of it all on a spreadsheet. This worked for the most part, but did create headaches. Limitations of budgetary insight and frustrations in reconciling the spreadsheet with what was actually rewarded made the old system a lackluster solution, not to mention there was no good way to track rewards—and therefore rewards and recognition were not as effective as they could be. Furthermore, after challenges arose with issuing funds through Venmo, Lendio knew they needed a change, and quickly.
After some searching and comparisons, Awardco arose as the front runner.
“In using Awardco we found a much easier way to facilitate rewards—not to mention my accounting department loved the idea of not having to repeatedly reconcile a huge spreadsheet. Now I can budget rewards and put it all in one place, and not even worry about it.” - Brett Child, Lendio Co-Founder & Executive Vice President
Before using Awardco, Lendio mainly used rewards as a way to incentivize sales teams. While this solution was effective, it meant a large portion of employees couldn’t participate in rewards and recognition. This created some measure of inequality, and Lendio wanted to fix that.
After implementing Awardco every employee at Lendio was now eligible for rewards and recognition through three powerful programs:
Whenever Lendio has big initiatives they need to rally people around, they use Awardco to facilitate it. The ease of use was a big selling point, as well as the opportunity to include everyone in rewards and recognition. “Awardco’s ease of use is incredible—and I’m definitely the corporate cheerleader,” says Brett.
Lendio knew that rewarding employees in small increments in a paycheck wouldn’t cut it. “If I put these rewards in a paycheck, it never has the same impact," Brett shared. "Employees look at that as compensation, not rewards. I wanted each employee, new and old, to feel rewarded and appreciated for what they were doing.”
When the traditional in-house method they were using couldn’t support that many employees, Brett turned to Awardco and found an all-in-one solution that helped him reward his employees in ways both large and small—and it saved him time to boot. “I knew I couldn’t keep doing rewards and incentives all by myself. We needed help, and Awardco stepped up to the plate in a big way to incentivize and motivate my in-house and remote teams—no matter where or when they were working.”
Lendio knew that rewarding employees in small increments in a paycheck wouldn’t cut it. “If I put these rewards in a paycheck, it never has the same impact," Brett shared. "Employees look at that as compensation, not rewards. I wanted each employee, new and old, to feel rewarded and appreciated for what they were doing.”
When the traditional in-house method they were using couldn’t support that many employees, Brett turned to Awardco and found an all-in-one solution that helped him reward his employees in ways both large and small—and it saved him time to boot. “I knew I couldn’t keep doing rewards and incentives all by myself. We needed help, and Awardco stepped up to the plate in a big way to incentivize and motivate my in-house and remote teams—no matter where or when they were working.”
Lendio knew that rewarding employees in small increments in a paycheck wouldn’t cut it. “If I put these rewards in a paycheck, it never has the same impact," Brett shared. "Employees look at that as compensation, not rewards. I wanted each employee, new and old, to feel rewarded and appreciated for what they were doing.”
When the traditional in-house method they were using couldn’t support that many employees, Brett turned to Awardco and found an all-in-one solution that helped him reward his employees in ways both large and small—and it saved him time to boot. “I knew I couldn’t keep doing rewards and incentives all by myself. We needed help, and Awardco stepped up to the plate in a big way to incentivize and motivate my in-house and remote teams—no matter where or when they were working.”