COLA Token is an ERC20-based token that innovates the employee benefits market. Colawork closely inspects the participation of employees on various collaboration tools, so that companies can reward employees with COLA token accordingly.
Due to the COVID-19 pandemic, almost all companies started to rely heavily on online collaboration tools. Subsequently, the degree of use of collaboration tools has become an important index for evaluating the work efficiency within the company. COLA token offers a new type of employee benefits system that enables companies to encourage their employees to be more communicative and active on collaboration tools for practical benefits.
Let’s dive into how the following three parties can benefit from utilizing COLA token: 1) employees of companies that use collaboration tools, 2) companies that use collaboration tools, and 3) companies that develop collaboration tools.
Firstly, employees of companies that use collaboration tools can actually be rewarded with COLA token for activities within their company. COLA tokens can be exchanged for goods provided by the using company, such as gift cards, or can be converted to cash money on cryptocurrency exchanges. Since employees are rewarded proportionally to their contributions within the company, COLA token motivates employees to perform their best even when they are physically distributed, working remotely.
Secondly, companies that use collaboration tools can utilize COLA token to motivate their employees to be more active and to follow company’s core values. For example, being communicative on collaboration tools, or contributing in building the company culture are some virtues that employees should be appreciated for, but are hard for the company to recognize. Colawork provides a way to reward employees with COLA tokens for employees’ good activities within the company.
Lastly, companies that develop collaboration tools can use COLA token to market their products. In the recent years, numerous companies have emerged in the digital workspace market with new collaboration tools. It became harder for collaboration tool makers to compete and differentiate themselves just with features and functionalities. Collaboration tool makers can utilize COLA token and its features to attract new corporate customers, because COLA token can provide additional values to companies that wish to motivate their employees in certain ways.