How to budget for rewards
Rewards within HeyTaco are completely custom, so you have the freedom and flexibility as to when you want to launch rewards and how much you want to spend on them. Here is how we recommend budgeting for HeyTaco rewards:
Set a monthly or quarterly budget
Choose how much you want to spend each month/quarter, and create rewards that fit within that budget. For each individual reward, set a quantity you have available and have budgeted for so people can't continue purchasing a reward after it is out of stock.
At the end of each month/quarter, take stock of how many rewards you have left (if any) and choose to restock the ones you have already launched or add new ones.
Launch a few rewards at a time.
A common misconception is that you need to have enough rewards available for everyone on the team to purchase one. The truth is that it is hard to control and make sure that everyone get exactly one reward, so we recommend rather focusing on the quality of the rewards and rotating them so everyone on your team can find something they are interested in. Launching rewards a few at time keeps the Taco Shop engaging and fresh, and rotating rewards with some frequency will keep people excited and eagerly anticipating additions to the Taco Shop.
Include non-monetary rewards.
We have seen teams have a lot of fun with non-monetary rewards that cost you (almost) no money. Those rewards include Coffee with the CEO, 1:1 engineering class, or 1:1 beginner guitar lesson by someone on the team. Those rewards are fun, unique to your team, and have the opportunity to bring your team together outside of their daily work.
Have fun with Team Rewards.
Team Rewards are a great way to have your team jointly contribute to experiences. Some common rewards teams love include Tacos for Charity, Tacos for Game Night or Tacos for Virtual Taco Happy Hour. We have seen teams exclusively focus on team rewards and have, for example, the whole contribute to a single charity reward each month. Here are some fun team rewards we have seen teams enjoy over the years.
HeyTaco rewards are choose your own adventure, so have fun, ask your team for input and remember rewards are a fun celebration of your culture of gratitude 🙂