Financeit's leadership team knows a thing or two about money. After all, their product helps companies offer consumer financing to their customers.
When Financeit's HR team needed to centralize employee reward spend tracking, promote cross-departmental recognition, and measure the impact of their employee recognition program as they scaled, they turned to Bonusly to make it happen.
93% of Financeit employees received recognition every month in 2020
Financeit employees have recognized each other more than 24,000 times since 2018
"Before Bonusly, our departments all had different recognition programs and separate budgets," says Bahar, a People Success Specialist at Financeit. "We had no central way to manage reward spending or measure the impact of recognition."
Financeit's HR team came to Bonusly wanting to
Financeit started using Bonusly in June 2018, when the company had between 100 and 200 employees.
More than two years later, Financeit employees have recognized each other over 24,000 times! In 2020, 90% of Financeit employees gave recognition each month and 93% received recognition each month.
"Bonusly has helped us create a more unified, company-wide way of recognizing people," Bahar says.
Bahar has also leveraged Bonusly to run several fundraising initiatives for causes that resonate with Financeit employees, including 2020's Australian bushfire response, the Black Lives Matter movement, and Beirut disaster relief. All in all, about a third of employee reward spending goes towards Allowance Boosts and donations.
With Bonusly Analytics, Financeit's HR team can easily measure the impact of their recognition program and share that data with their leadership team.
In 2020, 93% of Financeit employees received recognition from their coworkers every month.
"Bonusly Analytics gives us a really good snapshot of how often our employees are being recognized and helps us track our reward spend."