Did you know, the average voluntary employee turnover in the UK is around 15% and between 10-30% in the USA?
Championing a culture of recognition has been proven to boost employee motivation and productivity, as well as reduce absenteeism and voluntary turnover. In a competitive market, recognition has become a defining factor of a competitive EVP. But what are the business cost savings of delivering recognition?
Calculating the actual ROI of employee recognition programmes can be tricky. So we’re here to help!
Rippl’s brand-new Digital ROI Calculator has been designed to do the legwork and reveal the financial impact of implementing a culture of recognition from every angle – with personalised results ready in just a few clicks.
85% of the global workforce is currently disengaged. And employees who feel undervalued and demotivated can cost a business 34% of their salary per year.
Now more than ever, recognition programmes are a fundamental tool for creating a more motivated, more engaged, more productive workforce. 82% of employees are happier when recognised at work, and over half (53%) would stay longer in their role if they felt appreciated.
Recognition also plays a key role for emerging talent. By 2025, Millennials will make up 75% of the global workforce – and 79% say recognition boosts their loyalty to their employer.
Happy people create happy businesses. When employees feel meaningfully valued and empowered, they are more likely to unleash their full potential – and importantly, remain in their role. Recognition programmes can no longer be viewed as a ‘nice to have’, but as an essential attraction and retention tool.
Calculating the ROI of employee recognition programmes
So how can HR leaders meaningfully assess the ROI of employee recognition programmes? And what are the key metrics to examine?
Rippl’s Digital ROI Calculator is here to do just this. Just enter a few details and within seconds discover personalised projections for:
- Total current annual costs to business through disengaged and lost talent.
- Total cost savings through delivering recognition, as a result of reduced turnover and absenteeism rates.
- Monetary and percentage ROI from implementing an effective recognition programme.
There’s also the option to take your results to the next level by downloading a fully detailed, personalised calculation report.
Ready to make waves?
Discover your free ROI result here.