Purpose Unlimited
Building a dynamic rewards system for employees at a global investment firm.
The Summary
OPENFORMAT and Purpose Unlimited co-developed a dynamic rewards system, translating employee community engagement into redeemable tokens for exclusive items at the Purpose Shopify store.
About Purpose Unlimited
Purpose Unlimited is a modern investment management firm focused on building a world where people feel empowered by their financial future. To date they have over $17B in assets under management and 10,000 wealth management clients on their Purpose platform.
What was built using OPENFORMAT?
Together with Purpose Unlimited, OPENFORMAT built a system that rewarded employees for community involvement. Employees collected tokens via engagement activities, and these could be traded for exclusive items at Purpose's Shopify storefront.
How did it work?
Based on predefined criteria, employees earned rewards for specific actions like finishing a task on Asana or making edits on Notion.
Employees were rewarded with Purpose’s internal digital currency
Earned tokens could be spent on exclusive rewards and merchandise at the Purpose Shopify store
Why did we choose to work with Purpose Unlimited?
Collaborating with Purpose was a natural strategic decision following our Simpleweb venture. With a more flexible reward-triggering mechanism, this model demonstrated the vast potential and versatility of the concept.
The Outcome
The newly introduced rewards system was test-run with 60 employees, and given its success, plans were in the pipeline to expand its reach to a larger pool of over 2000 employees. However, due to lack of legislative clarity, the rollout has been temporarily postponed.