25th October 2023
Guest Blog: Four Ways to Quantify the ROI of Employee Recognition & Rewards Programs
Author: Rob Catalano, Chief Engagement Officer, WorkTango
Most organizations today have some type of employee recognition and rewards program in place. In fact, according to research conducted by WorkTango and HR.com, 94% of companies are currently investing either informally or formally in employee recognition and/or rewards.
Based on these numbers, it seems that the vast majority of organizations already understand that employee recognition and rewards play a powerful role in boosting team member engagement, productivity, and retention–and are investing accordingly. But for every investment made by HR, there’s a CFO waiting in the wings, asking to see the return on that investment (ROI).
So how should HR teams think about quantifying the true expected ROI from employee recognition and rewards investments? Well, the ROI of employee recognition and rewards programs can typically be grouped into three key categories:
- Company ROI
- People Metrics ROI
- HR Team ROI
To finish reading this thought leadership article on how to quantify the ROI of employee recognition & rewards programs, click here.
