Rewardz Gives Singapore Startup Employees Some Corporate Style Benefits

Vanessa Tan
1:25 pm on Nov 30, 2012

I’ve always been in startups, and can only listen in envy when friends at large banks or multi-national corporations talk of enjoying some fancy benefits. That sucks. So Rewardz is a new Singapore-based startup that enables employees in startups and small- to medium-sized companies (SMEs) to have the ability to enjoy things like medical benefits.

The idea behind Rewardz first came early this year, and was officially launched in October. I got in touch with co-founder Nicole Seah to find out more. Nicole tells us:

Our motivation was to enable employees in small-scale organisations to be able to enjoy benefits that are typically available in large companies. Many of our friends are in the startup circuit and we hear so often about SMEs not being able to provide better benefits to help retain their talent; that is when we decided that we should do something to bridge that gap.

We also wanted to provide a benefits solution to HR managers, which is holistic – beyond the typical medical and dental packages as well as simple to use and administer. Thus Rewardz was conceived – a simple way to engage your employees.

SMEs should be getting similar benefits to what the big companies have. […] Rewardz will definitely enhance any existing employee packages employers have [provided for their staff].

Rewardz prides itself as one of a kind in Singapore. It leverages on the concept of economies of scale where it consolidates employee numbers across small companies. As the Rewardz employee base becomes even bigger, participating startups would then be able to enjoy even more benefits as it becomes more favorable for merchants to come on board, providing corporate rates that previously could not have been enjoyed by them.

As Nicole gave a run-through of her site over coffee, it was easy to understand given the simple and straightforward Rewardz UI. Once you are logged into your account, you will be able to see the benefits that are available to you (pictured below).

So how does Rewardz generate revenue? Participating companies will be charged S$3 per employee per month, and at the moment it is also extending a three-month free trial of its services to employers. Nicole also tells us that the next version will be integrated with a payment gateway, where employees would be able to make purchases for goods and services through the site.

Co-founder Jaya Maru also reveals that the four brains behind this team hail from corporate banking positions, with one in the IT consulting industry. It is also interesting to note that the first two who were gutsy enough to leave their comfortable corporate banking jobs to embark on this project are women. To both Nicole and Jaya, the choice was pretty straightforward: “Well, someone had to do it, right?”

The team also plans to look beyond Singapore, targeting regional neighbors such as Hong Kong, Jakarta, and Kuala Lumpur.

At present, Rewardz is looking to build up its pool of merchants and provide benefits on corporate travel as well as insurance. And for startups out there, Rewardz is currently offering a three-month trial. If you guys are keen to try out its service, you can visit the website here.


Replies
  • Sylvia

    Sounds like a good plan for employees. but what are the rewards? i browsed through the site but don’t see any example of your mentioned dental or travel rewards. And will the rewards apply in countries like australia and japan too? or is it strictly just for singapore?

  • English Expert

    Sylvia, they want to provide rewards “beyond the typical medical and dental packages”. Keyword: “beyond”.

    As for travel rewards, Vanessa has already clearly stated in the article, “looking to build up…” That means coming soon in the future. :)

  • Gregy

    Both of you have a point. Though not too impressed if the startup can’t really show what it could offer.

  • http://Rewardz.sg Sudhanshu

    Slyvia / Gregy,

    Rewardz has 60+ offers spread across fitness, medical , lifestyle and F&B groups. As far as medical is concerned, we have partnered with top medical organizations like Healthway, Raffles Medical, Q &M etc to create an amazing suite of benefits for our clients. Its an ever expanding suite and we have listed down some of our key partners on the main home page.

    Rewardz membership is open to corporates only and its completely free for first 3 months. To get more details on the Rewardz offers, please do a quick sign up at http://rewardz.sg/signup/ and our sales team will reach out to you shortly.

  • http://Rewardz.sg Sudhanshu

    Sylvia,

    Rewardz is only 2 months old baby :). Its currently only operational in Singapore.

    cheers

  • http://www.techinasia.com Joshua Kevin

    Happy to hear from the founders if they are ever in town (Jakarta)!

  • Jonathan

    Sudhanshu, I suspect Sylvia/Gregy could be your competitor in SG because “their” comments don’t make a lot of sense (it’s pretty clear what you guys offer on your site). LOL.

  • http://Rewardz.sg Sudhanshu

    There is so much value to add in SME sector that competition is always welcome :)

  • John Berry

    I browsed through the website and liked the idea. It is definitely a value add for startups like us to offer benefits to our employees who are our biggest asset. Will sign up, please have your sales team contact me and explain in detail.

    Thanks,
    John Berry

  • Mike

    This definitely looks interesting. I will pass on the details to my HR team to have a closer look.

  • Minnie S

    Interesting concept. As an HR admin, I feel this can potentially add a lot of value. Question: Do you provide or plan to provide services for the companies (instead of employees) such as corporate services?

  • Jaya

    Thanks John and Mike for your interest. We’ll get in touch with you.

    Cheers,
    Jaya

  • Jaya

    Thanks Minnie for your interest. Yes, we do provide corporate rates for companies to enjoy as well – we have tie-ups with training providers, caterers for your office events, hotels and more.

    Cheers,
    Jaya

  • Jeff M

    I’ve had the chance to meet with one of the founders and I was glad to hear more info on Rewardz. This is indeed good news for SMEs particularly small startup companies like ours! Strength in numbers. I think you guys are on the right track. Will sign up my team.

  • http://www.mindcron.com MindCron

    impressive founders

  • http://gametize.com Keith

    Hey good people from Rewardz, I usually dislike names with “Z”s at the end of the brand, but somehow I like this one :) Can we get in touch somehow? I’m at keith (a) gametize.com. I think there are stuff we can work on together – check out http://gametize.com :)

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