Recognition, coupled with rewards, offers a great way for companies to demonstrate their appreciation for employees. When employees receive recognition and rewards for their hard work, they are more motivated to continue working hard for the good of the organization.
Program and Perks Costs: How Much Should an Employee Perks Platform Cost?
An organization can think about its employee recognition program as an investment that will pay off in higher levels of revenue. Taking this approach, the organization can determine appropriate program costs by thinking about how the rewards offered will pay off. The question then becomes: How much money will a certain improved behavior bring to the company, and how much should the company spend in order to see that improved behavior and enjoy the increased revenue it brings?