HiThrive is proud to offer a recognition platform that is effective with and without points! Continue reading to learn about how points work and where you can incorporate them.
What are points?
Points can be incorporated into shoutouts (peer-to-peer recognition), spot celebrations, and birthdays, service anniversaries, and new hire announcements to add extra meaning to the moments of celebration.
What is the value of a point?
Each point translates to $0.01 in value within the HiThrive platform. For organizations located outside of the United States, you have the ability to change your base currency so that it translates to 0.01 of the currency that you select.
How are points budgeted?
Team members are given access to an allowance of points that resets on a selected interval (monthly, quarterly, or annual). The points allowance can vary by team member / hierarchy of the organization. Each team member has the opportunity to attach points with recognition up to their budgeted amount during the interval. Any points that are not distributed will expire at the end of the interval and each team member will begin the next period with a replenished budget.
For example, let's say that we allocate a budget of 500 points to each team member per month. Your team members can send recognition and attach points up to that 500 point allowance. A team member who only allocates only 400 of their points this point will begin next month with a refilled budget of 500 points.
What happens to unallocated points?
Points that are unallocated simply disappear when your budgets reset. Given that you only pay for points that are redeemed, the unallocated points do not cost you anything.
Do earned points expire?
Points are earned (that a team member receives with recognition) do not expire. Team members can continue to accrue points until they are ready to redeem them.
How and when are points paid for?
Points are entirely virtual until they are used on paid rewards, which means that there is no requirement to pay for points in advance. In fact, if you wanted to use points for fun and never turn on a paid catalog, points never cost anything and you never need to fund your rewards account!
For more information about funding your rewards (points) balance visit our article Paying for Rewards in HiThrive.
What happens to points when somebody leaves the organization?
When a team member is no longer part of your organization they will automatically lose access to the HiThrive platform and their points are no longer accessible to them. You can choose to simply have their points expire or to send them a single-use link to choose a reward.