What does a good custom reward look like?
- Desirable and Exciting
- Aligned with your culture
How many points should rewards cost employees?
As a best practice, the price of your least expensive custom rewards should be less than the monthly allowance. So if your employees receive 100 points per month to give out, price your least expensive tier of custom rewards at 100 points or less. You can also offer aspirational rewards that are more expensive, but you want to make sure that employees feel like rewards are attainable in a reasonable amount of time.
If you have rewards that cost more than the monthly allowance, your employees will need to save up multiple months for them. Including a few expensive rewards is okay, if 1) there are also more attainable rewards in your catalog and 2) the reward is desirable enough that it’s worth saving points.
Another approach to custom rewards is to incentivize employees to get certain rewards, like wellness or professional development rewards. You can create rewards that you want employees to get and make them inexpensive.
How much will custom rewards cost the company?
Though you won’t be billed through Bonusly for custom rewards, custom rewards aren’t “free”. Keep in mind that custom rewards require administrator time to fulfill and maybe funding from other budgets.
Fitness Classes & Gym memberships
- Offer reimbursements or subsidizes
- Organize in-office classes
- In-office healthy lunches
- Gift cards to local healthy restaurants
- Bring a nutritionist in for a day
- Weekly fresh produce delivery
- Cooking classes reimbursement
Workshops & Speakers
- Invite speakers to come to your office. Topics could be personal skills (public speaking, goal setting, personal finances, etc.) or industry specific knowledge (new skills, industry trends, etc.)
- Offer subsidies for outside training and conferences
- Donations to support an employee running a charity race
- Office trivia night tickets with proceeds going to a charity
- Donations to a local charity or charity specifically relevant to your company
- Flowers or a plant for your desk
- Company gear (tshirts, hoodies, water bottles, mugs etc.)
- Reserved parking spot
- Time off (long lunch, PTO, early release, “sleep in” day, work from home, etc.)
- Local businesses/attractions/events
- Lunch with a leader