What Is The Estimated ROI From My Recognition Program?

Everyone wants a positive Return on Investment (ROI) for any new project or program. Employee recognition is no different.

Leaders and program owners alike want to know and compare the monetary benefits from their recognition program. One client recently asked me, what do you consider the estimated return on investment for implementing employee recognition program? 

Unfortunately, the quick and easy answer to that broad question is, “that depends.” 

But to bring some peace of mind to any of you who might have the same question, I will now give a more detailed answer. 

(more…)

What Is The ROI On Our Recognition Program?

Someone had to ask the question.

It could be a senior leader asking you about the ROI (return on investment) of the proposed recognition program before they sign off on the approval.

Or maybe your CFO asks the question before he’ll issue the cheque.

Whether for fiscal responsibility or validation of the value of employee recognition programs, calculating the ROI can be a helpful tool to communicate the success of your recognition programs.

How do you calculate the Return on Investment of your recognition programs?

Here are a few things to keep in mind. (more…)