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Budgeting for a Successful Rewards and Recognition Program

Budgeting for rewards and recognition programs can feel daunting. Striking the perfect balance between cost and employee appreciation requires strategic planning. Without a clear strategy, it's easy to either overspend or under-deliver, impacting both your budget and employee morale.

Our eBook provides a straightforward, step-by-step guide to help you navigate this process. Learn how to budget effectively and track the ROI of your programs with ease.

Download this eBook for:
  • Budgeting best practices for your rewards and recognition programs
  • A free budgeting worksheet
  • A step-by-step guide on how to calculate your program's ROI
  • Actionable tips for connecting your program's ROI to business performance

Access the full eBook by filling out this form.

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Budgeting for a Successful Rewards and Recognition Program

Budgeting season — its the time we start crunching numbers to determine how much budget will be set aside next year to reward and recognize employees. This figure varies based on the number of employees
you have, but the Society for Human Resources Management (SHRM) suggests that a rewards budget of 1% or more of total payroll is key for a successful program.

Assuming you have executive leadership buyin, what should your rewards and recognition program look like? Should you use it to mark years of service milestones? To recognize achievements? To reinforce good behavior and company values? To motivate and enhance performance? To celebrate employee life events? All of the above? You’ll likely need to include a different budget line for each type of recognition, all of which rolls up into your total recognition budget.

According to SHRM, the most common types of recognition are timely, developed with input from employees, and tied to business outcomes. Use these factors to craft a program that is just right for your organization’s mission, vision and values.

Download the Full eBook


Download the full eBook for a step-by-step guide to budgeting!

This eBook provides:

- Types of rewards and recognition budgets

- A step-by-step guide on setting up your budget

- How to connect your R&R program to business results

- How to calculate ROI from your R&R program

- A free budgeting work sheet


Download the full eBook