In recent months, the BBOK Employee Recognition Committee reviewed the bank’s recognition program to find new ways to foster a positive work environment where employees feel valued and rewarded. The committee recently added a social media platform called Bonusly that empowers employees to recognize one another for a job well done.
Each month, every BBOK employee get 100 points, which equates to $10, to share with others. Users log on to Bonusly, to write a short encouraging message and reason for recognition, via hashtag, to one or more peers, then gift points up to the employee’s total allotment for the month. The recipient can trade points for gift cards or donate to charity.
BBOK management likes Bonusly because the system is designed to give verbal and monetary recognition. Employees now look for even more ways to help one another and are complimenting a peer who goes above and beyond. In addition, the cost is relatively minimal as most of the investment goes directly back to the employees.
BBOK employees have embraced the Bonusly system because of its ease of use, and its immediacy and personalization. Since introduction in January, 96% of employees have recognized at least one peer and 93% of employees have received a recognition. Expressing and receiving thanks creates an instant, positive feedback loop.
Happy employees pass happiness along to their peers and customers, increasing productivity and cooperation among one another. In addition to Bonusly, senior managers are prioritizing employee growth and development.
By making adjustments based on expectations, BBOK is focused on creating a healthy institution positioned to care for employees and customers.