More often than not, the success of a company lies in the hands of its employees. When employees are well rewarded, they would be encouraged to continue putting in their best efforts to contribute to the success of the company. In an interview with Top 10 of Malaysia, Shane Mun talks about his invention, a performance-based reward system called vimigo that benefitted numerous companies.
Shane Mun graduated with an international business management degree at Northumbria University in the United Kingdom. As a tech enthusiast, Mun created various systems. “I realised that a performance-based culture and system is important for companies (especially the small and medium enterprises or SMEs) so I developed a performance-reward system known as vimigo, which stands for ‘vision – mission – goal’”.
“Four years ago, I started promoting and selling the software application to SMEs and the response was good. There are over five hundred SMEs and other big companies that are using vimigo,” says Mun who also noticed that some employees who are performing well in companies are not well rewarded. “The system will analyse employees’ performance and take note of their achievements. It will indicate how the employees will be rewarded and how much pay they will receive for their good performance.”
When vimigo was first introduced to companies, it was a bit challenging as the concept was new. “People usually want to see the results before they could believe in a service or product. As such, we decided to gather testimonies on how vimigo has benefitted our customers. For instance, companies who utilise vimigo have seen an increase in sales as sales employees are appropriately rewarded based on their performances,” says the creative entrepreneur. “vimigo is a performance-reward system and we teach our customers how it works. It is a subscription based model and companies could choose a monthly or yearly subscription.”
Mun’s advice for young entrepreneurs is to first know the purpose they are starting a business. “If you know your purpose, you don’t need to seek motivation. The business journey is a very challenging one, so having a purpose before starting a business is very important. Your business must be of benefit to people, providing solutions to help them overcome their issues or problems.”