Rewarding Simply: Recognize Incentive Program Complexities
November 12, 2015 | Jenna Filipkowski | Human Capital Institute
In this signature research, conducted in partnership between the Human Capital Institute and GC Incentives, we explore the greatest challenges facing rewards and recognition programs, and how organizations can address those challenges and find success. In a study of almost 270 organizations, we found:
There is a right and wrong way to design incentive programs. HR respondents are more likely to report higher employee engagement, less turnover, and better financial performance when their organizations embody these best practices.
Competitive salaries and health benefits are table stakes offerings for most organizations. After that, raises, retirement benefits, and gift cards are the most popular tangible rewards.
Organizations are able to design incentive programs, but most struggle to implement them. Only 20% of the respondents surveyed measure the ROI of their incentive programs.