Recognition Provider Directory 2020 - 20
Employee Recognition
What's Trending
As recognition programs grow in popularity and
adoption, their benefi ts are following suit.
Reaping the Rewards
Five trends to consider when designing a recognition
program.
By Debbie Bolla
Today's
organizations
invest heavily
in recognition
programs,
according to a
WorldatWork
study which
found that
some spend
as much as
10 percent of payroll on employee recognition. While
the average investment is 2 percent of total payroll,
organizations that are spending more to incentivize
their workforce do it with good reason. Their return
on investment includes happy, loyal workers who are
productive and more likely to stay-factors that are
critical in a tight talent market.
Each year, the Incentive Research Foundation (IRF)
conducts a study on the key trends in employee
recognition. The IRF 2020 Trends Report found several
[20]
Recognition Provider Directory
factors that are making an impact in the way that
organizations reward and recognize their workforces.
1. The use of reporting and data analysis to show ROI is
growing. The amount of employee data available to HR
has increased steadily over the last few years, and HR
continues to be challenged to show the value in their
investments. As a result, the IRF 2020 Trends Report found
that the number of organizations conducting analyses on
how programs change behavior increased to 44 percent,
compared to 25 percent in 2019.
The report says that HR leaders should consider both
tangible (staff turnover, productivity, sales, revenue,
market share, and customer acquisition) and intangible
(employee satisfaction, collaboration, and impact on
company culture) metrics to understand overall program
ROI.
2. Feedback from participants helps companies measure
program success. The most common measure of program
success used by both organizations (68 percent) and third
parties (80 percent) is employee satisfaction. This was the
most valuable metric to demonstrate success to senior
management in 2019 as well.
See more at: https://www.hrotoday.com/news/engagedworkforce/performance-management-rewards/reapingthe-rewards/
Recognition
Provider Directory-2020-v4.indd 20
8/7/20 2:12 PM
https://www.hrotoday.com/news/engaged
Recognition Provider Directory 2020
Table of Contents for the Digital Edition of Recognition Provider Directory 2020
Recognition Provider Directory 2020 - 1
Recognition Provider Directory 2020 - 2
Recognition Provider Directory 2020 - 3
Recognition Provider Directory 2020 - 4
Recognition Provider Directory 2020 - 5
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Recognition Provider Directory 2020 - 22
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