A virtual marketplace is an important element of gamification. It enables reward redemption with prizes and awards that an organization chooses to make available to agents. Agents can view the virtual marketplace and set their sights on a specific reward or payout that most motivates their performance. Then, once they have enough coins or points, they can easily redeem their earnings for their chosen prize.
Some employees prefer to work towards smaller items to have something to continuously look forward to. Others save up their coins to buy a large item. It’s important that managers understand their employees’ interests and preferences, so they can ensure that the prizes in the virtual store will actually motivate and drive performance. In addition, a virtual marketplace that is continuously updated with fresh ideas tends to encourage current and new agents to be more engaged.
