Bonus.ly is an employee payment platform that lets workers allocate cash to their peers each month.

A new platform seeks to change the incentive model in companies, installing a peer-to-peer bonus system rather than a top-down handout that can be obscure and possibly unfair. Bonus.ly enables employees within the company to give monthly rewards to their coworkers in a transparent manner that emphasizes peer recognition.

The web platform works like this: a company signs up the web, and assigns each employee a monthly budget for bonuses. The employee can then reward whomever they see fit throughout the month. As monthly budgets do not roll over, Bonus.ly sends out regular emails reminding workers to use their allowance. At the end of the month, the employer is responsible for doling out the rewards.

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