What is Bonusly?
Bonusly is a performance enablement and recognition software that rewards employee milestones, builds meaningful connections, and equips managers with tools and insights to unlock your team's full potential. With features including peer-to-peer recognition, Awards, Celebrations, Incentives, and Redeemable Rewards, building a culture of recognition and delivering high-impact outcomes is easy, fun, and rewarding!
See our video on how to use Bonusly below.
How Does Bonusly Work?
Every month, users get a giveable allowance of points.
With that allowance, users can give points to their peers, direct reports, and managers to recognize their contributions in real time. The dollar value is usually small, but the recognition is invaluable.
Employees can redeem the points they've earned in our extensive digital reward catalog.
The catalog is full of reward options like gift cards and charitable donations, but it's completely customizable. You can add custom rewards like PTO, company-branded gear, or lunch with the CEO.
With automated recognition and rewards administration in one intuitive platform, your employees can redeem rewards instantly, minimizing the administration time needed to turn recognition into tangible, memorable perks.
What is peer-to-peer recognition in Bonusly?
Peer-to-peer recognition lets you recognize all of your colleagues for big and small wins in the everyday flow of work. Plus it's a fun way to show your teammates how much you appreciate them and the work that they do.
The Bonusly recognition feed is where you'll see recognition posts for individual and team accomplishments in real-time across the entire organization. The feed increases the visibility of all of the great work and positive contributions happening and how they reflect your company's mission, values, and goals.
How do points work in Bonusly?
Bonusly has two types of point balances including giveable points and redeemable points. Learn more in this article on how to use points in your Bonusly account.
Do my redeemable points expire?
Redeemable or points you've earned through recognition, never expire - so you can cash in when you are ready. Whether that's for a small gift card for enough to purchase your favorite coffee order to saving up for a bigger ticket item you’ve been wanting to purchase! 💰
What are Awards, Celebrations, and Incentives?
Awards, Celebrations, and Incentives are recognition coming directly from your company.
Awards are used to recognize goals, company milestones and objectives, and company initiatives.
Celebrations automatically post recognition for birthdays, anniversaries, and new hires' start dates and let you comment and add on to each post to celebrate your teammates.
Incentives are set up by your company to recognize you for things that sometimes stay under the radar like completing a security training or meeting a company wellness initiative.
Learn more about Awards, Celebrations, and Incentives in this article, and check with a Bonusly admin on your people team to see what's available for you!
How am I billed for rewards?
Bonusly tracks a balance of funds in your account that is used for employee rewards (this is called your "reward balance"). Depending on the reward billing plan you choose, you can pay that balance in arrears ("Pay-as-you-go") or in advance ("Flex" and "Fixed").
When an employee redeems for a reward in Bonusly, it is Bonusly that purchases and delivers the reward to your employee. Bonusly then deducts the cost of the reward from your reward balance. When your reward balance falls below a certain threshold, then you pay an amount specified by your reward billing plan to restore the balance.
Use our Rewards Budgeting Calculator to configure Bonusly to fit your budget.
Bonusly offers three different reward billing plans:
Pay-as-you-go: reward balance is paid in arrears by credit card, when it passes -$100. 8% convenience fee.
Flex: reward balance is paid up front by credit card, in an amount of your choosing from $200 or higher. 5% convenience fee.
Fixed: reward balance is paid up front by invoice, in an amount of your choosing from $5,000 or higher. No convenience fee.
See our paying for Bonusly rewards article for more information and plan details.
Do I pay for peer-to-peer recognition giveable points?
No. You only pay for the points your users have redeemed for rewards in the rewards catalog.
Questions? Send us a note to [email protected]; we'd be happy to help!
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