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Products & Services Human Resources Compensation, Rewards, and Recognition Rewards and Recognition

Rewards & Recognition Programs - Comprehensive Benchmark Study

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ID: 4789



Pages/Slides: 47

Published: Pre-2018

Delivery Format: Online PDF Document


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Study Overview
Reward & recognition programs are a good way to maintain a loyal and productive workforce and to improve performance. However, if poorly executed, they can yield little results. This research identifies benchmarks for rewards and recognition programs used by 131 organizations and is segmented between corporate and public/non-profit organizations. Companies can use this study to structure, organize, manage, evaluate and improve their rewards and recognition programs.

Key Topics

  • Types of rewards used
  • Ranking of awards
  • Eligibility criteria
  • Financial award amounts
  • Annual award budget as portion of organizational budget
  • Satisfaction level
  • Improvement recommendations

Key Metrics
  • Percentage of Respondents Who Apply Theoretical Model to Rewards and Recognition Programs
  • Frequency of Reward Type
  • Ranking of Reward Effectiveness
  • Eligibility Criteria for Rewards
  • Dollar Range of Awards
  • Salary Connection
  • Award Budget as portion of Department Budget
  • Award Budget as portion of Organizational Budget
  • Functional Involvement
  • Authorization Level
  • Method of Award Nomination and Distribution
  • Frequency of Awards
  • Forum for Awards Distribution
  • Employee's Satisifcation Level with Rewards and Recognition Programs

Key Findings
  • Organizations most frequently use gift certificates, awards and items to reward employees; however, respondents report that cash is the most effective motivational means of recognition.
  • While achievement in performance is the most frequent criterion to determine award eligibility, respondents also emphasize criteria based on desired behaviors.
  • Employees most often comment that rewards and recognition programs should be consistently and fairly created and applied.

This research originated from Best Practices, LLC's Internet Benchmarking Exchange Service for Research and Advisory Services member.

Industries Profiled:
Manufacturing; Medical Device; Pharmaceutical; Utilities; Computer Hardware; Computer Software; Financial Services; Professional Services; Health Care; Insurance; Distribution; Service; Government; Chemical; Automobile; Public Relations; Transportation; Academic; Research; Diagnostic; Energy; Retail; Defense; Telecommunications; Biotech; Consulting; Education; Consumer Products; Electronics; Banking; Aerospace; Technology; Shipping; Internet; High Tech

Companies Profiled:
3M; Strathfield Group; Inspire Success Pty; Tactical Ingenuity Corporation; Trazar Corporation; J.D. Sweid; Union Energy; Altana Pharma Mexico; Kerry Mexico; American Health Information Management Association; K/P Corporation; Seminole Electric Cooperative; L-3com; PSC; MOL INDIA; Australian Railroad Group; Momentum Textiles; Campus Crusade for Christ; MRO Software; Banque Saudi Fransi; Perot Systems; Baton Rouge General Medical Center; Samancor WCM; Beacon Federal; Christianacare; The Bonita Bay Group; Radian Asset Assurance; Carsons Management Services; Columbus (GA) Consolidated Government; Clement Communications; AmeriCold Logistics; Coates Hire; Children's Services Council of Palm Beach County; Columbian Chemicals Company; FL; Correct Craft; Royal Caribbean Cruises; DANA Heavy Axle Mexico; Clerk & Comptroller; Donaldson Company; Palm Beach County; Emtel; City of Port Alberni; Giant Campus; Michigan Manufacturing Technology Center; GUARD Insurance Group; Shell Oil Products US; Harris Bank; National Energy Board; HEB Grocery; British Columbia; Holden; Ontario Securities Commission; Home Shopping Network; Sheraton Oman Hotel; Innovus Research; United Developmental Services; ITT Industries; US Department of Energy; Shelter Insurance Companies; City of Calgary; Strattec Security Corporation; Canada; Telephone & Data Systems; The Beacon Mutual Insurance; Transamerica Reinsurance; City of Jacksonville (FL); UOP LLC; Allergan; Vodafone Greece; Michael E. DeBakey VA Medical Center; Watson Wyatt Worldwide; Houston; Western Union; TX; Clearstream Banking; Saginaw (MI) Valley State University; Kohler Company; University of British Columbia; Concentrix Corporation; University of Michigan Hospitals and Health Centers; Allstate Insurance Company; Kohl's; Costco Wholesale; LifeScan; Lakeland Electric; Nextel; CREE; Omega HR Solutions; American Express; Pepsi Bottling Group; Encysive Pharmaceuticals; Pharmascience; LexisNexis; Ernst & Young; Avaya; Fairchild Semiconductor; Medtronic; Fireman's Fund Insurance Company; Bank of America; Ford Motor Credit Company; Motorola; GC Services; Bechtel; PLIVA Pharmaceuticals; Bell Helicopter; Prudential; BioPort Corp; QUALCOMM; Bombardier Aerospace; Raytheon; Bose; Respironics; Chiquita Brands International; Rogers Corporation; Cingular Wireless; SAS Institute; Crest Healthcare; Schwarz Pharmaceuticals; FedEx; Siemens; State Farm; GlaxoSmithKline; Symetra Financial; Hoffmann-La Roche; Telecom New Zealand Limited; IBM; TracFone Wireless; Inc.; US Bank; Wachovia

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