We are very excited to introduce High Five (H5) to the Galactic Talk community, in preparation for our Stellar Build Challenge 2018 entry. H5 is a platform for any company that is interested in implementing or replacing an employee reward system for one that is decentralized, using a decentralize transaction system as is Stellar.
The concept is simple:
Companies reward employees based on performance or other metrics like goals achieved. Often, reward systems are based on nominations by supervisors. The reward plans are designed to keep employees happy, productive, and fulfilled, but it's not always easy to determine who is most deserving. Supervisors have preferred employees, and overlooked employees may do a lot for others that goes unnoticed and unrewarded.
With H5 we want to introduce a platform that will focus on solving some of these discrepancies, by empowering coworkers to reward each other. In other words management will no longer select who deserves what, but instead each employee will have the power to send rewards to other employees when he/she thinks it is deserved.
In our initial scenario (this will be configurable based on company needs) each employee is treated equally and at the first of the month receives a predefine amount of PatCoins (a stellar asset). PatCoins don't have monetary value, but are intended to give coworkers a show of gratitude. So, if a coworker helped me with a task, or took the time to help me solve an issue I was stuck with, or I want to thank the person who cleans my desk, or my manager is doing a great job motivating the team, then I can transfer some PatCoins from my wallet to theirs. PatCoins will be received in a different kind of currency called RewardCoin which does have a monetary value and can be exchanged for money or products the company has available for employees. At the end of the month any PatCoins not used in every employee wallet get wiped clean and a new set of PatCoins are assigned.
Simple things like anonymous PatCoins can be set up, for people who want to show gratitude but don't want to be identified. RewardCoins are not meant to be transferred to other employees.
This platform is designed to empower employees to manage the reward system, and some technical issues need to be taken into account, to avoid cheating (I'll transfer you my PatCoins and you will transfers yours), and other concerns that we have addressed in the requirements.
On the Company side leaders and managers can rely on their teams to reward each other in a more balanced and transparent way. In addition, we are planning to release an admin tool that not only enables the company to set quantities and other setup features, but also provides a reporting system where you can see what employee is actively helping others, who doesn’t seek out help or provide support or gratitude by withholding PatCoins. This can be a powerful tool for HR to work with certain employees on their motivation, participation, collegiality, and appreciation.
Technically in Stellar we need to create two kinds of tokens:
One that can be transferred to other users but not exchanged that we call PatCoin
And once receiving a PatCoin the user will have a token that can be exchanged for what we are calling a RewardCoin
The company can buy back the reward coins and give the employee a monetary or physical reward and will take back the PatCoins and assign new ones each cycle.
Two platforms will be implemented:
Employee Platform: This will be the wallet that shows the user PatCoins and RewardCoins with the option to transfer PatCoins to a coworker or exchange his/her RewardCoins
An admin platform: Will set the amount of PatCoins per cycle, cycle duration, reporting system, RewardCoins exchange definitions and so on.
We encourage you to join us in our effort to make the workplace a happier, more transparent, more enjoyable and equal environment, to empower employees and equip them with the tools to express gratitude to one another, and to recognize and reward those who are most deserving.
Project status:
We are currently implementing an Android client for employees and a web application for management, we are planning on being on beta by end of July 2018 and we already have a list of interested companies ready to try it out.
We invite everyone to share your feedback with us on this project.
