Recognize is different from other vendors in that we don't require you to pre-pay for points. What we ask is that you to transfer money to a bank we hold for you so that when staff redeem gift cards, the money is withdrawn from your Rewards balance. This gives the company the liberty to choose the max number of recognition badges different users can give in a time period. This way, you can budget for finite monetary badges that managers or employees can send, while also having zero point badges that have no restriction.
Your staff can then use points from the monetary recognition badges to purchase gift cards (fulfilled from your company's Rewards balance with us) or custom company-fulfilled rewards (you will budget separately outside of the platform for these) like time off or company swag. For instance, if a manager can send a badge worth 1000 points and you've set up a 100pts to $1 points ratio in Recognize, then when that manager gives that 1000pt badge to an employee, that employee can now spend the equivalent of $10 in your rewards catalog. All the gift cards have a digital option, which means your employees can access their gift cards in their user profile or email.
All points users receive carry over time periods, and are set up to never expire. We want to engage both your users who will redeem rewards each month and users who will hold on to points over a long time period!
Budgeting
Budgeting is based on how many Badges can be given out on an interval basis. You can use our budget calculator spreadsheet to help you get started with budgeting. To download this spreadsheet, see the 'Recognition Strategy' section of the page: https://recognizeapp.com/resources
After you've determined how many Badges you have budget for and how many each person can send, you can begin adjusting the points for your Badges. To do this:
- Click 'Menu' in the upper right-hand corner of your screen
- Select 'Company Admin' from the drop-down menu
- Select the 'Custom badges' section from the left side menu
- Choose the points, sending limits, and the roles that can send each Badge to determine your budget
NOTE: Leave sending limit blank if there will be no limit. If no roles are added, all employees will be able to send the badge and will be included in budgeting. - If Rewards are enabled in your settings, you'll be able to see your budget for that Badge populate on the right side of your Badge settings
- You can also take further control of your budget by requiring approval for certain Badges or point intervals to be sent
- If requiring approval for a Badge to be sent, you can set certain point variants to require approval or leave blank to cover all variants, and you can also assign an Approver based on your created Roles (See our help article for how to create Roles).
- At the top of the Badges page, you'll see the total potential spend based on the Badge settings
NOTE: You can change the interval at which this calculates within the 'Settings.' See below section 'Interval Settings' for details.
- Make sure to save any changes you make by selecting the 'Save badges' button at the bottom of the screen
Interval Settings
You may want to change the interval at which the budget is shown and/or at which the employee profile point summary is shown. To do this:
- Click 'Menu' in the upper right-hand corner of your screen
- Select 'Company Admin' from the drop-down menu
- Select 'Settings' from the left side menu
- Under the 'General' section, under 'Default interval,' you can change the interval at which the budget shows, and the interval at which the cumulative points show for employees under their name in the top right profile snapshot
Rewards Catalog Settings
Points-to-Currency Ratio
You should decide on a points to dollar ratio in the program when you first get started. This setting should not be changed after you've enabled your catalog and employees begin redeeming for Rewards. See our help article for more details on appropriate ratios.
Enabling your Catalog
Employees will not be able to redeem their points until your catalog is enabled. Feel free to take your time building it out first and enable it when you are ready to launch Rewards. See our help article for more details on enabling Rewards and your catalog.
When Employees Leave
Employees must redeem their points before departing the company, otherwise they will remain under their profile.