Social Recognition® drives engagement and business outcomes, boosting productivity, customer loyalty, and profits. To fund a Social Recognition program, start by reallocating your total rewards budget, redirecting funds from ad hoc recognition expenses like dinners or tickets. Consider integrating other HR programs such as wellness or referral initiatives into the recognition platform for better cohesion and ease. Finally, rethink your merit budget and bonus pool—replacing large, one-time bonuses with smaller, frequent rewards can be more effective in engaging employees and reinforcing positive behaviors year-round.

Join for free to read