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Thank Money

Thank money is currency for gratitude to which employees can use to give to their colleagues every time they are grateful

Photo of Sami
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Thank Money will be a new currency for gratitude. It can be used in the organisation to give to their colleagues every time they are grateful.

Idea Title

Thank Money

How the Idea will inspire the experience and expression of gratitude within an organization.

Thank Money, also known as gratitude money, is essentially a gratitude currency. Because gratitude is difficult to measure, Thank Money enables the quantification of gratitude in the workplace. Gratitude in this case is more authentic because employees are not obliged to give their thank money. However, employees will be encouraged, and constantly reminded, to share and express their gratitude to their colleagues using Thank Money. The organisation can also monitor how gratitude is circulated within the company.

Who are you innovating for?

The following will benefit from this idea: 1. Organisations - A culture of gratitude in the organisation will generally produce more harmonious relationships in the workplace, at the same time will increase employee motivation and productivity. 2. Employees - The employees will benefit from a gratitude mindset improving their physical and psychological health, as well as creating better personal relationships and improving their self-esteem.

What type of workplaces are you innovating for?

This idea is applicable for all types of organisations, whether big or small.

How you envision the Idea being introduced to your selected organization?

At the start of implementation, ALL employees will be given a "starter pack" of thank money by the HR department. Using an app, this money can be used to give/share to fellow employees who they feel have helped them in some way. Employees are free to give as little or as much as they want. It is up to them to decide how much thank money they are willing to give. However, the employees will be given guidelines. At this point, there are no specific guidelines just yet. But, to illustrate, a simple thank you can maybe correspond to $1 thank money. Or a pat on the back for a job well done can maybe correspond to $5 of thank money. The amount can vary depending on how grateful the person is.

What obstacles, if any, do you foresee in implementing this Idea, and how would they be overcome?

By associating gratitude with money, people may have a tendency to count how much a person is grateful to them, which can backfire the entire idea of authentic gratitude. Others may also count how much they have and may become greedy. It is, therefore, proposed that while there is a starter pack of thank money, there is essentially an unlimited amount. Employees only need to infuse thank money to their "gratitude account" so they never run out of it.

How will you test and prototype your solution?

Testing and prototyping can be done on smaller firms for easy monitoring. One-week testing is good to see how employees react to the idea and perhaps a month-long testing is needed to see if the idea is sustainable.

What immediate next steps will you take if you receive an implementation grant.

A partner will be needed to develop the app for the thank money. Thus, the first step that must be done is to look for someone who can develop the app. Next is to present this idea to various companies. Getting the award and getting to work with mentoring organisations like Greater Good Science Center will allow me to have the necessary support to make this idea fruitful.

At what stage of development is your Idea?

  • Research & Early Testing: You are exploring an idea, gathering inspiration and information needed to test it with real users.

Please describe from where your Idea emerged

This idea came from an individual idea, based on actual experiences in the office setting.

Tell us about yourself

My name is Sami Aldhafeeri and I am a university student. I am from Saudi Arabia and I am currently enrolled in University of Technology Sydney in Australia.

1 comment

Join the conversation:

Photo of Lauren Ito

Hi Sami,

Great to see you in the Ideas Phase of the Challenge! I'm curious about what would incentivize people to participate in this initiative?

I'm attaching the definition of gratitude we are using for reference in building out your concept:

Lastly, I'm tagging in @tokens of appreciationTokens of Appreciation which . may be a helpful post to reference for you in this challenge!

Excited to learn more!