When times are tough and profits are low, budget lines for things like education, employee events, and recognition, often get cut.
It’s easy to blame leadership – either for the financial failings of the company or for the budget fallout. But not all financial issues come from poor leadership.
Leaders have a difficult position to fill when it comes to prioritizing how company monies are spent.
While you are the defender of employee recognition practices and programs, you must also be transparent about the success and impact of your recognition and rewards programs. Are your programs producing their intended results? Is there a positive ROI? What is your program’s impact on people and performance?
On your leader’s behalf: Is there ever a right reason to cut a recognition and rewards program? (more…)