You only pay for rewards that are redeemed from the Nectar Reward Suite, which includes gift cards, donations, Amazon products and swag. Use this guide to plan and adjust your reward budget to match your company's recognition goals.
How can I predict reward spending?
Reward redemption varies month to month. Here are some helpful benchmarks:
Exchange rate: 10 Nectar points = $1 USD.
On average, 60% of points given out are actually redeemed as rewards.
Also consider budgeting for:
Birthdays
Work anniversaries
Awards (e.g., Employee of the Month)
All values are fully customizable in Nectar.
Example: Annual Reward Budget Forecast
Company X has:
100 employees
$5 monthly allowance ($60/year per person)
$50 birthday bonus
$25 work anniversary bonus
50 awards per year, at $20 each
Raw total:
(100 × $60) + (100 × $50) + (100 × $25) + (50 × $20) = $14,500/year
Adjusted for 60% redemption rate:
$14,500 × 0.6 = $8,700 projected annual spend
How can I adjust reward spending?
The most effective way to control your budget is by updating employee allowance settings:
Go to Workspace Settings > General Settings > Allowances & Values.
Adjust amounts in:
Tip: Lowering monthly allowances or limiting bonus awards will reduce your overall spend.
