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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Entrepreneurship

Entrepreneurship

Startup Rocketrip Rewards Employees by Paying Them What Is Saved

via flickr/Ulrika via flickr/Ulrika
via flickr/Ulrika via flickr/Ulrika

The New York based startup Rocketrip encourages employees to save companies’ money on business trips by paying them to do so.

Rocketrip uses an reward system that for every $2 you save, you get paid $1.

Here an example from the company:

Via Rocketrip

Via Rocketrip

“There isn’t a company on the planet that doesn’t have a travel and expense problem,” Ruch told the VentureBeat. “We introduce that incentive to align [employees’] interests with the company policy.”

The TechCrunch explained how Rocketrip works in 4 simple ways:

  1. You enter the trip location and necessities, like flights, hotel and a car, on Rocketrip.
  2. Rocketrip calculates the reasonable price for the trip on average, based on real-time market prices. It then applies the company’s policies, like can this employee fly business class, to plan to trip.
  3. You book all the things for the trip and send the receipts to Rocketrip.
  4. Rocketrip figures out how much you saved on the trip and sends an invoice with half of what you saved to the company. You get 10 points for $2 saved, which equals to $1 on a gift card.

Ruch said Rocketrip now serves seven companies, including Vidyo and Divide, which have successfully saved a total of $110,000 on 108 trips. The company is offering the service for free, but Ruch said he hopes to  launch an open, paid model by this summer.Despite the free service now, the company is making a profit already on gift cards and travel vendors.

Ruch, joined by co-founder Gillian Tee, was actually inspired by Google. When a Google employee goes on a business trip, half of the money, compared to a pre-set amount, s/he saves goes into an internal account, and s/he can use the money for future trips. Rocketrip just give every company an opportunity to use service like this.

 

 


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