Why Measures Matter: Examining the value of ROI.

In the last of our three-part series on strategic measurement for recognition strategies, we’re examining return on investment (ROI) – a measure that indicates the financial return of a recognition strategy. Arguably one of the most prevalent, universally understandable and accepted measures of success, ROI can be calculated differently based on business models, programs, or circumstantial situations.

So why measure ROI? As it relates to your recognition program, understanding whether it is worth the investment is probably the biggest reason. As we shared in Part 2, when evaluating the impact of your recognition strategy, ROO and ROI go hand in hand. It’s great that you may have a program or strategy in place, and you may have some ROO measures that look positive, now the next piece is determining if your strategy is bringing in a return on that investment.

Learn how calculating the ROO and ROI of your recognition strategy will provide the foundation that shapes your company culture for the long-term engagement of your employees.

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Why Measures Matter: Examining the value of ROO.

Return on objective (ROO) focuses on defining and achieving specific measurable objectives. Traditionally, ROO has been considered an alternative success metric – another way of analyzing the effectiveness of a program/campaign/strategy. In fact, ROO goes hand in hand with ROI, and enables your organization to make informed decisions for continuous improvement and also gain an understanding of how your investment is going.

Having a solid measurement plan around your recognition strategy (of which ROO is one part) means you can clearly make your case with relevant data showing that it’s not just for HR, but for the greater good of the company. Determining the right objectives to put in place for your overall ROO is key – measuring without context or without a plan to do something with your data won’t tell you the bigger picture.

Learn how to define your ROO to make a long-term impact on the culture of your organization!

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Why Measures Matter:
Making the case for strategic recognition.

It’s not uncommon for organizations to find their recognition programs disconnected from one another. Different departments, leadership, and management styles want to implement their own initiatives, creating more of a pop-up programmatic culture. These programs often end up being short lived and ineffective in developing long-term employee engagement.

The solution is to take a strategic approach to recognition with a supportive framework that is more than just a series of touchpoints here and there. One of the most critical components of transforming a recognition program into a recognition strategy is around measurement – and being able to make decisions based on data rather than gut. The good news is that it’s easy to put measures in place that allow you to test, learn and modify your plans accordingly to develop the perfect strategy.

A measurements-based, outcome-focused recognition program will create align and integrate efforts across your entire system, ensuring engaged employees and affecting organizational change.

Check out some measurements that matter to your organization and learn how to implement them into your recognition program!

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