BOULDER, Colo. – An app developed in Boulder allows co-workers to send bonuses to each other as rewards for a job well done.
The app is called Bonusly and the founders say it was created because so many great contributions go unrecognized and, more importantly, unrewarded everyday.
Here's how it works: Every employee is given a monthly allowance of "Bonusly points," which an employee can give to a co-worker for doing a good job.
The points have cash value too. After you saved up a bunch of points, you can redeem them for rewards like gift cards to major brands or donate it to charity.
"Our approach has been that if we make it fun and easy for employees to give recognition that is meaningful and authentic, they're going to do it day after day," said CEO and co-founder Raphael Crawford-Marks. "Both the employee and the employer are going to benefit from that in terms of improved productivity and retention."
Crawford-Marks added that when he talks to executives that they say prior to starting Bonusly they thought they had a good idea of top performers, but after Bonusly, they realize all these quiet performers that were glue of team.
Many large companies such as Zip Recruiter and Chobani currently use Bonusly.