Planning an effective and meaningful recognition program is a step-by-step process. You might be recognizing and rewarding top employees with cash, gift cards, stock options or swag. But ask yourself, are these tactics positively impacting your recognition efforts - are they improving engagement, increasing employee motivation and performance, or building a more positive company culture? Recognition programs should be memorable, personal, and shareable, and most importantly, measurable.
When crafting a recognition program it’s important to weigh the types of rewards you offer, but also make sure the programs you’re rewarding (such as anniversary awards, performance incentives, peer-to-peer recognition or others) reflect your company’s personality and core values. It sets the groundwork for your recognition program investment.
In this guide, we’ll break down the A-B-Cs of how to build and plan a truly effective and meaningful employee recognition program. You’ll learn how to choose your rewards use case (anniversary awards, performance incentives, peer-to-peer recognition), how to plan a budget that works for you, calculate your experiential recognition ROI, and valuable tips for gaining executive buy-in.
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