Improving employee retention is a constant concern of leaders and Human Resource professionals.
One of the tools available to leaders to change turnover issues is employee recognition.
Let’s examine how employee recognition can be a gamechanger in turning around your retention issues.
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…)