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Lifestyle Spending Accounts

Updated

Lifestyle Spending Accounts (LSAs) let you set up automated, customizable allowances for employees. You choose which expenses qualify, such as wellness, WFH costs, groceries, childcare, financial education, or professional development. LSAs offer flexible benefits tailored to employees' needs. See below to get started.

 

  1. Navigating to the Lifestyle Spending Program Builder
  2. General Settings
  3. Amounts Settings
  4. Timeframe Settings
  5. Lifestyle Spending Program and Queue Management

 

Navigating to the Lifestyle Spending Program Builder

To access the Lifestyle Spending Program Builder:

  1. Select the Admin button at the bottom of the left navigation menu.
  2. From the left navigation menu, select “Recognition,” "Programs," then "Lifestyle Spending."
     

 

General Settings

To add a new Lifestyle Spending program:

  1. Click the "New Program" button at the top right of the page.
  2. Set a program name and select a user to be the recognition sender.
  3. Enter a recognition note that will appear in the social feed.
  4. Select the email template that recipients will receive.
  5. Specify the budget from which the points will be drawn.
  6. Select the Award Network available to LSA point recipients.
  7. Click "Save."

 

Amounts Settings

To specify the amount users receive:

  • If you want all users to receive the same amount, keep the "Same for Everyone" toggle enabled and enter a point amount. Click "Save."
  • If you want different employee groups to receive different amounts, toggle "Different Amounts Groups" and click "Add Group."
    • Enter an amount in the "Amount Per Disbursement" field.
    • Specify the recipients by metadata or Awardco Service Year in the "Add People to Group" field.
    • When you add multiple metadata fields, the system uses an "AND" condition. For example, if you add the metadata values "Department: Sales" and "Role: Group Manager," only Group Managers in the Sales department will receive the specified amount.

 

 

Timeframe Settings

To set the timeframe for the LSA program:

  1. Set a start date for the LSA program.
  2. Establish an award cadence. This can be weekly, monthly, quarterly, or yearly.
    • If "Weekly" is selected, specify the day of the week LSA recognitions will be sent.
    • If "Monthly" is selected, specify the day of the month LSA recognitions will be sent.
    • If "Yearly" is selected, specify the day of the year LSA recognitions will be sent.
  3. Select the time and time zone from the dropdown menus.
  4. Review the "Next Three Disbursements" to confirm that the timeframe settings are correct.

 

Lifestyle Spending Program and Queue Management

  • To make changes to an LSA program, select the pencil icon to the right of the program.
  • To delete a program, select the trash can icon.

 

 

  • To view pending LSA awards, go to the "Queues" tab.
    • If you make changes to an LSA program and there are pending awards, click the "Refresh Queue" button.
    • Check the box next to the name of the LSA program.
    • Select "Refresh."

 





 

 

 

If you have any questions, please contact Awardco Admin Support.

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