Reporter on the Scene: Demonstrating and Elevating the ROI of Recognition Programs
At the 2019 RPI Annual Conference Dr. Charles Scherbaum shared something that many recognition professionals experience; most organizations invest considerable resources into employee recognition programs, but a vast majority underutilize their recognition programs as a strategic tool that can help elevate their performance. Throughout his presentation “Demonstrating and Elevating the ROI of Recognition Programs”, Dr. Scherbaum discussed how recognition analytics can be used to link employee recognition program data to key business outcomes like employee engagement, customer experience, or sales to formulate return on investment (ROI). Applying recognition analytics to an employee recognition program can help organizations clearly understand how the ROI can be enhanced by developing managers and employees to be more effective at recognition.
Key Session Takeaways
Effective managers create effective programs. Mangers are the key to making recognition programs work. By training managers individually on their needs and weaknesses they create better appreciation at work, better customer loyaty and better performance. ROI can be established when effectiveness is tied to employee, customers and business ourcomes.
Putting it into Practice/Aha-Moments
Since managers are the key to making a recognition program work, the focus needs to be on training managers on an individual basis on how to produce better experiences for recipients. Measuring the ROI of your program will then come next. Based off the information from Dr. Scherbaum, you can do this by utilizing the perspective of the recipient, not the manager. Using this frame, you will be able to measure recognition ROI by frequency, velocity, reach, authenticity over time.
Reporter on the Scene