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How do I budget for reward spending?

The new Rewards Budgeting Calculator helps you plan and adjust your reward budget to match your company culture and spending needs.

Updated over a week ago

Bonusly’s annual subscription fee is flat, but what you spend on rewards may fluctuate. 

So, how can you budget for that? Check our new Rewards Budgeting Calculator, which is a great tool to help you plan and adjust your budget to have more control over your reward spend. 🎉

We've also outlined some helpful guidelines below to help you match your reward spend to your company culture and budget.

Predicting reward spending

You only pay when rewards are redeemed from our preset catalog of gift cards and donations. Employees will give and redeem different amounts each month.

On average we see 60% of points given away each month, which means only 60% of the monthly allowances will be redeemed as rewards. You can see the average reward spend at your company from your Analytics Page

Adjusting reward spending

The easiest way to adjust your Reward Spend is by changing the monthly allowance your employees have to give away. This can be done in the admin features of your Bonusly account on the Company > Settings Page. Not sure about how much to adjust? The Bonusly Rewards Calculator is a great way to test out different values.

Another way to adjust rewards spending is Custom Rewards. If you include perks like gym subsidies, this could raise your reward spending overall. To reduce reward spending, include things with cultural value like lunch with the CEO. Check out this article for more ideas on Creative Custom Rewards.

Questions? Send us a note to [email protected]; we'd be happy to help!

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