Sometimes it’s difficult to motivate someone in your company or business that doesn’t always carry his or her weight. You can try with increasing salary, providing more responsibility, and all of the other normal tools but at the end of the day if the employee doesn’t feel as though they’re appreciated by the office community then they’re not very likely to work much harder or more productively. A new startup company named Bonus.ly has decided to take these workers head on and try to give them some proper motivation to work harder- by allowing their peers to give them bonuses themselves!
The concept is very simple, Bonus.ly is a peer-to-peer web platform that allows co-workers to provide their work-mates with bonuses for helping them out. “When workers feel recognized, they will perform better, work harder and are more motivated,” said Raphael Crawford-Marks, who built and co-founded Bonus.ly with his longtime friend and colleague John Quinn.
This is how Bonus.ly works- first employers decide on a bonus budget for their employees. Once this is set, each employee gets a monthly allowance for how much of this budget they can give to their peers. Employees are also reminded by automated emails throughout the month to give their bonuses out- and that’s basically it! When used correctly and in the right environment it’s very easy to see how something like this could not only boost employee morale, but also provide a very good way for management to see who’s working the hardest and most efficiently in their company.
“The employees competing for peer rewards are motivated by the recognition itself,” Crawford-Marks said, adding that “the praise I give is almost equal to the praise I get from a manager or someone in senior position.”
I think that Bonus.ly is a genius idea that will have a great future in the world of startups and larger businesses alike. Good work!