Download - Six Steps to Employee Recognition ROI


Can you measure the roI on employee recognition initiatives?


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YES you can, but first you have to define what’s important to measure.

Can you measure the roI on employee recognition initiatives?





Here’s the six step process to follow:


Start with defining your recognition objectives.


1


Common objectives include:


Increasing productivity





Reducing customer service complaints





Reducing customer service complaints

Improving morale



your program may also positively impact other objectives, but if you focus on one or two, you’ll find it easier to create a defensible ROI.



Identify the key metrics that align to your objectives.

2



Identify the key metrics that align to your objectives.

2

Use measurements you already have in place.


establish a control group.

3




The control group can be a baseline period to use for comparison.



The control group can be a baseline period to use for comparison.

This adds credibility to your final ROI calculations and results.



Define and communicate behaviors.

4



5

Set realistic expectations.



you should reasonably expect not to see any significant change for at least six months against your key metrics and it could be as much as 36 months.



Focus your measurement on tactical results such as:



Percentage of managers who have participated in program training.




The number of recognitions employees have sent their co-workers.




The number of recognitions employees have sent their co-workers.

The percentage of employees who have recognized a co-worker.



The number of recognitions, per manager, that have been given.



The number of recognitions, per manager, that have been given.

Percentage of managers using thier discretionary awards budget.



Calculate all of your program costs.

6



Including these costs will lower your roI – and increases your credibility when management understands that you are being completely transparent.



Including these costs will lower your roI...

Labor




Labor

Materials




Labor

Materials

Training


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Labor

Materials

Training

Presentations




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6StepS for determining

the roI an empLoyee recognition program6StepS for determining

the roI an empLoyee recognition program

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