An Innovative Approach to Recognition ROI That Even a CFO Will Love.
More and more organizations are moving toward centralized reward and recognition programs for greater program efficiency and effectiveness. Yet, far too many are failing to take what may be the most important step toward reaching these goals. That crucial step is proving their program’s return on investment (ROI) through a process that is specific, well-designed, practical and ultimately converts the results of the program into monetary values that the company’s executive team and program leadership cannot only support, but embrace.
This paper offers an innovative approach for assessing the ROI for recognition programs.
You’ve heard of ROI, but have you heard of ROR? That’s “return on rewards.” The intangible returns on recognition may not always show up on the balance sheet or income statement, but they do deliver value to the business and its workforce, and need to be accounted for in evaluating the true ROI of recognition.
By understanding the barriers to ROI implementation, this paper will provide best practices and a case study to help outline a model that provides a valuable assessment and solid support from senior management.
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