With Company Funds, you can reward employees for participating in specific company initiatives. For example, you can:
- Set up a referral fund to give referral bonuses from whenever someone refers a new hire to your team
- Use a wellness fund to promote participation in wellness initiatives, such as Bike to Work Day
- Give from a bounty fund when your team accomplishes specific tasks, such as hitting sales quotas or solving particularly challenging problems
Company Funds are available with the Bonusly Pro subscription. To upgrade your account to Pro, visit your billing page. Once you've upgraded, you'll be ready to set up your own Company Funds!
Setting up a new fund
First, head to the Funds page, found here under Bonuses.
Click the New fund button on the top left:
In the Add Fund modal that appears, go ahead and name your fund, set a monthly allowance, and upload an avatar. When you're done, click the Save button.
Your new fund will now appear on your Funds page! 🎉
By default, no users will be allowed to give bonuses from a new fund and all users will be allowed to receive bonuses from it. To adjust these settings, begin by clicking the no one link in the Fund Givers column:
In the Edit Fund Givers modal, add conditions to specify which users are allowed to give a bonus from this fund. These conditions are based on the custom properties set on your user management page. You can require givers to match any or all of the conditions you add.
In the example below, we're requiring Referral Bonus fund givers to be in the Barketing Department AND located in Boulder.
Once you've set your conditions, click the Submit button:
Setting fund receivers works exactly the same. For the Referral Bonus fund in our example, we're allowing everyone in the company to be able to receive this bonus, so we'll leave it as everyone in the Fund Receivers column.
However, if you were running a department- or location-specific campaign with a fund, you could limit fund receivers to users who are involved in the campaign.
Giving a bonus from a fund
Now that you've set up your fund, it's time to start using it!
Anyone with permission to give from a fund will now see it appear in the drop-down menu in the Give field:
Select the fund you would like to give from, and then give a bonus just like you normally would:
The bonus will appear in your feed and teammates will be able to comment and add on to it just like other bonuses:
Deactivating and reactivating a fund
Has your referral campaign ended? It's easy to decommission a fund. Just click the trash can icon to the right of the fund:
Want to reactivate your campaign or use the fund for a new one? Just click the ambulance icon to the right of the fund:
Where do the points from a Company Fund bonus come from?
Company Fund points come directly from the company, not an individual user’s allowance balance.
How do I pay for these points?
Just like other allowance points, company's only pay for rewards when they're redeemed, never any unused points.
What are some common ways to use funds?
You can use the Company Funds feature to support any number of company-sponsored recognition initiatives. Some of our favorites are:
- Referral bonuses
- Hitting goals and exceeding KPIs
- End-of-year bonuses
- Setting bounties
- Awarding contest winners
- Wellness initiatives
Looking for something a little more automatic?
Manual Awards are the partially automatic version of Company Funds. Unlike Company Funds, which allows for individualized bonus content, Manual Awards has standardized bonus content set up by an admin, and cannot be edited by the giver. You can learn more about Manual Awards here. *Manual Awards are also available with the Bonusly Pro subscription.
What are some of the ways your team uses the Company Funds feature? We'd love to hear! Just shoot us a note at email@example.com. 😃