Amidst Great Resignation, Prizeout Perks provides a fast, cost-effective, and employee-approved solution just in time for the holiday season
Prizeout Corp. (Prizeout), a digital cashout marketplace that delivers withdrawal solutions to commercial partners across the ecommerce, retail, gaming, finance, neobank and payroll industries, today announced the launch of Prizeout Perks, a free recognition platform that allows any company to leverage Prizeout’s storefront for employee engagement. Companies using Prizeout Perks can send funds to employees in bulk or individually, and employees are able to redeem those funds by choosing from the thousands of digital gift cards on Prizeout’s marketplace.
“With job dissatisfaction being at an all time high, there’s no better time for us to debut this platform to the public,” said David Metz, CEO of Prizeout, “Companies are looking for ways to engage their employees and make them feel appreciated, often on a tight budget. Our ad-tech model allows us to offer our platform at no-fee to employers which means they can spend their HR budget where it really matters: on their people.”
The launch of Prizeout Perks comes at a time of a hiring market dominated by grim statistics for employers. Between April and June of this year, 11.5 million workers quit their jobs. Millennials, who now account for more than ⅓ of the workforce, cite dissatisfaction with pay and lack of appreciation as two of their top three reasons for leaving their jobs. Not to mention, the sheer amount of employees working remotely has thrown traditional methods of engagement and recognition for a loop. With the cost of replacing an employee estimated at 33% of a person’s annual salary, the financial impact of the Great Resignation is certainly dire. Finding ways to express appreciation, incentivize performance, and shorten the hiring funnel are becoming increasingly important for people leaders.
Prizeout Perks will make the ad-tech platform’s premier curated marketplace accessible to thousands of people for the first time, gaining them access to exclusive deals and promotions from top brands. Employees who receive rewards through Prizeout redeem their funds with the gift card(s) of their choice, whether it be their favorite sneaker retailer or crypto exchange. Because Prizeout Perks involves no technical integration, there is no up-front cost except for the money that goes directly into employees’ pockets.
Prior to this launch, Prizeout has been working with select partners on a case-by-case basis to develop rewards and incentives solutions. “Prizeout has simplified how we reward our employees significantly. We can’t imagine running our sales contests without it,” said Kevin Heron, an Operations Manager at Angi, who Prizeout has worked with to develop sales incentive, customer marketing, and employee engagement rewards programs.
Prizeout is a first-in-class ad-tech company that works within the gaming, gig-economy, payroll, neobank, and finance industries to turn withdrawals into a growth solution for ecommerce & retail businesses. Operating as a digital cashout marketplace, Prizeout connects brands that are looking to acquire and retain customers with platforms that have users who are looking to withdraw funds. Through its exclusive partnerships, Prizeout offers users unprecedented access to bonus offers on popular and emerging brand favorites, while providing them with a fast, secure and curated experience.
The company was founded in 2019 and is headquartered in New York City.