It has been almost 2 months since the implementation of a reward currency at Happinest and we are already seeing the benefits that come along with it.
Happidollars Reward System
Students are given a fixed number of dollars each week and some might get their dollars deducted for any misbehaviors. At any point in time, students can use the happidollars they have to pay for a variety of rewards which are priced based on their desirability. For instance, a pen/pencil might just take a student 1 week to save up for but a Mcdonald’s meal will take a student more than a month of saving up.
The New Stakeholders - The Students
We implemented the system not just as a reward for good behaviour or as a dangle of carrot to get them to complete tasks. Afterall, their duties and behaviour iis part of their responsibility so it should not be rewarded. We implemented the system to offer them a stake in their lives – to let them make decisions that will have consequences that they have to live with – to let them have ownership over what they want in life.
Making Rational Decisions
Should I buy a pencil now or save up another week for a better pen?
Should I buy the pen now or save up for a Mcdonald’s meal?
Should I save up together with my friends so that we can enjoy our rewards together?
These are thoughts that pop up in their minds to help them rationally make the decision. Over this period of time, some opted to go into the purchase mode whenever they have enough for something while some decided to save up for something big right from the start. And it was today that some students reaped the fruits of their labour when they used their happidollars to exchange for a Mcdonald’s meal each. They chose the perfect stress-free post-exam day to do it. This of course drew envious look from the rest. It turns out to be a good learning experience for both ends, one learned that they made a pretty good decision while the other will learn to accept and reconsider their decisions in future.
Nonetheless, this implementation imparts to students the importance of delayed gratification, which is widely believed to be one of the key contributors of future success/ With the increasing demands of modern day school life, students need this understanding that their hard work and tireless efforts will result in a greater good in the future.