People claim to work hard but there’s a fine line between kissing the boss’ arse and cracking down to get work done. And let’s face it; it’s a big downer when it comes to working with unmotivated people who have nothing but complaints to bring to the table. If this sounds all too familiar, perhaps Bonus.ly, a peer-to-peer reward system where employees decide who gets a bonus, can change the way a workplace is run.
Created by Raphael Crawford-Marks and John Quinn, Bonus.ly introduces a fair and square reward system to increase motivation at work. Its aim to spice up the workplace starts with the obliteration of traditional incentives where recognition tends to be delivered through a hierarchy ranking. Here, employees give and seek rewards by relying solely on one’s work effort. What’s wrong with traditional incentives is the potential for favouritism between bosses and workers. Never ending frustrations with this issue comes to an end with Bonus.ly.
Here’s how Bonus.ly works:
First, the employer decides on a budget for the peer recognition program. The rewards can be anything from cash to point systems where employees can redeem earned points for goods. After the budget is set, each employee is provided with a monthly allowance to give away to those they think deserves it. After, say, a month of praising and giving, the employer settles the balances.
This reward system increases work morale because employees are motivated with the exchange of praises; there’s something to look forward to each day and people may be more encouraged to go beyond what’s expected. Not only does this boost a positive workplace environment, but it also allows for a more transparent exchange of bonuses where everyone is aware of one another’s achievements. You’re probably thinking, “Well, some can cheat the system by just rewarding their friends.” Possible but it’s not as likely because people tend to reciprocate positive feedback when getting it. In addition, Bonus.ly is equipped with a Collusion Checker, a tactic used to flag sketchy bonuses.
Suggest this idea to your company if you’re feeling like it needs a refresher. In the mean time, what do you think about peer-to-peer reward systems?