Values can be assigned to participation in any event. The client works with VSA to develop reward categories associated with these points. The online Employeesignup.com can go a step further whereby points can be used by participants to bid on rewards and prizes budgeted by the company. The rewards points have no specific monetary value by themselves, but an auction creates a value by winning bids for prizes and rewards.
This application has been highly successful in allowing companies to set a reward and incentive budget. Participants also get to see other participants win these rewards. Employees also get to use their points on rewards they want. Call for cost and demonstration of this feature.