HiThrive gives you the control and flexibility to design (and iterate) the perfect recognition + rewards program for your organization. Set points budgets organization-wide, or customize by department, location, or even by individual team member.
Points convert at a standard of 1 point = $0.01 USD (or 100 = $1.00 USD) and you only pay for points that are redeemed. So, if points expire without being used, no worries at all, you haven’t lost anything!
How to properly design your points budget is among the most common questions that we receive and is one of the most difficult to answer. As you can imagine, points budgets are extremely company specific – depending on the company culture, pre-existing programs (birthday / anniversary) and total rewards programs.
For example, some organizations forgo points on peer-to-peer recognition altogether and instead design their program so that managers reinforce peer-to-peer recognition with spot awards (with points) and budget rewards for birthdays and milestones. Others, set a peer-to-peer recognition budget of ~$5 (and up to $10+) per team member / mo. (our platform average is $4.60 see below). What is meaningful for your organization, may be either completely unexciting or totally over-the-top at another – it is unique to you. And whatever your available budget may be, the HiThrive team will work with you to design a program that resonates with your employees.
Note: Please keep in mind that typically only 70% of budgeted points are ultimately redeemed. This means that when budgeting you can reasonably incorporate the expectation that your total available points will be greater than the actual spend realized.
Please reference the anonymized distribution of monthly peer-to-peer recognition points allowances below.
Budget Template
The categories below introduce the places in HiThrive where points (or specific rewards) are available. There is absolutely no pressure to include something for every category – we have many successful implementations without any points at all (though it wouldn’t necessarily be our recommendation).
Note: your organization may already have budget for these programs. Incorporate it into HiThrive or simply keep doing what you’re doing. A dynamic calculator is available here for your use.
Monthly peer-to-peer (shoutout) allowance
The amount that you budget per team member (per month) to include with peer-to-peer recognition. HiThrive’s platform average is $4.60 / team member/mo.
|
Number of eligible team members |
|
Monthly allowance per team member |
|
Total monthly peer-to-peer recognition budget |
|
100 |
x |
$4.60 |
= |
$460 |
|
|
|
|
|
x 70% |
|
|
|
|
|
$322 |
*On average, only 70% of points are ultimately redeemed.
Monthly spot celebration allowance
In addition to peer-to-peer recognition, HiThrive has spot-celebration functionality that is available to permissioned team members (e.g. managers, leadership) to reinforce meaningful life events + moments of contribution. With spot celebrations, you can attach points or specific gifts (i.e. gift box, product, floral arrangement, gift card, swag).
|
Number of eligible managers |
|
Monthly allowance per team member |
|
Total monthly spot celebration budget |
|
20 |
x |
$50 |
= |
$1,000 |
|
|
|
|
|
x 70% |
|
|
|
|
|
$700 |
*On average, only 70% of points are ultimately redeemed.
Celebrations
Celebrations streamline recognition to welcome new employees, celebrate birthdays, and commemorate work anniversaries, while guaranteeing that you never miss an important date. They’re an easy way to help your whole team celebrate personal and professional milestones without adding any manual administration to the workload. With celebrations, you can attach points or specific gifts (e.g. gift box, product, floral arrangement, gift card, swag).
Birthdays
|
Number of eligible team members |
|
Monthly allowance per team member |
|
Total monthly peer-to-peer recognition budget |
|
100 |
x |
$10 |
= |
$1,000 |
|
|
|
|
|
x 70% |
|
|
|
|
|
$700 |
Work Anniversaries
Anniversaries can be customized by milestone (1,3,5,10).
|
Number of eligible Team members |
|
Monthly allowance per team member |
|
Total monthly peer-to-peer recognition budget |
|
10 |
x |
$50 |
= |
$500 |
|
|
|
|
|
x 70% |
|
|
|
|
|
$350 |
New Hire Welcomes
|
Number of eligible Team members |
|
Monthly allowance per team member |
|
Total monthly peer-to-peer recognition budget |
|
15 |
x |
$15 |
= |
$225 |
|
|
|
|
|
x 70% |
|
|
|
|
|
$158 |
*On average, only 70% of points are ultimately redeemed.
Paying for points (or rewards)
You only pay for points when employees redeem them for a paid item (such as an item on Amazon, a gift card, a product, or a charitable donation). You never pay for any unused or unredeemed points. For more information about paying for points see HiThrive’s knowledgebase guide: Paying for rewards points. Because HiThrive does not mark-up the price of any product, we charge a 10% fee on redemptions to cover the credit card processing and partner-processing fees associated with your team member’s redemption.