If now is the time to evaluate the effectiveness of your organization’s or clients’ incentive
and recognition programs, you have come to the right place. A complimentary 30- 45-minute assessment often can determine if an incentive and recognition is on the right track or if there are warning signs worthy of additional analysis.
Many organizations spends hundreds of thousands if not millions of dollars on incentive and recognition programs. We’ll help you answer this simple question: what value is being created by your incentive or recognition program? The Enterprise Engagement Alliance may be the only independent advisory firm qualified to provide this service.
Before abandoning or cutting back a program, or before launching a new one, it may make sense to objectively evaluate the impact of your decisions on the bottom line of your finances, performance, or culture.
Properly designed incentive and recognition programs are based on a pay-for-performance model in which the solution provider earns at least a portion of their fees based on actual performance and outcomes. This approach, quite common in the design of incentive programs, is far less frequent in recognition. Most of these programs are based on rewarding behaviors or retention without a clear means of measuring the financial benefts, as is common with incentive programs.
Based on our learning and certification, professional service provider support services, ESM and RRN media platforms and permission-based marketing thought leadership, and speaking and facilitation service, the EEA has incomparable experience to provide organizations with an objective evaluation of the effectiveness, impact, return on investment and integrity of incentive and recognition programs. .
Managed by Bruce Bolger, Founder of the Enterprise Engagement Alliance, there is
probably no one in the industry anywhere with more experience in the field, with access to the most complete library of knowledge on effective practices and measurement, with no axe to grind to help determine if:
- The program is achieving the specified goals and how. What was accomplished in terms of measurable impact?
- It’s design conforms with effective practices or whether it uses elements that could create risks. Are you rewarding the people who would have performed anyway?
- The factors contributing to success or sub-par performance. Has your program addressed all the levers of engagement required for success?
- The cost and pricing for services, travel, merchandise, gift cards, are technology is consistent with effective payment practices. How do your costs relate to the return on investment.
- There are breakage factors, cancellation or other policies that could affect program effectivess. Is your company paying for services that don’t create value?
- There is any risk to simply eliminating or reformulating the effort to focus on value creation.
impact Measurement
For organizations serious about measuring the cultural and financial impact of their incentive and recognition programs, the EEA uses two concrete evaluation tools that can quickly help determine whether your recognition or incentive program has any meaningful impact on your culture or financial results.
Organizational maturity assessment. Using the 11-year-old stakeholder management assessment tool created by Omindex 
in the United Kingdom, organizations can quickly assess how their organization could be viewed via the Internet and other published information on critical factors found by independent research to have a direct impact on share price returns and future equity value. In phase I, this AI-generated rating can be compared to the ratings provided by select internal management. If desired, in phase 2, a complete internal assessment can be provided based on a survey with employees to provide a final score that can be benchmarked with a growing number of companies and, if favorable, used for marketing purposes. Click here for a sample of the Stakeholder Management Assessment Calculator.
Who can benefit. Any organization seeking to see how the marketplace views the maturity of its stakeholder management practices compared with management views, as well as an assessment of internal stakeholders to determine a final stakeholder management maturity rating.
Impact assessment. For organizations serious about understanding the financial impact of their incentive and recognition programs can benefit from the PVIC (People Value Impact Calculator) efforts the Management and consultants in finance, mergers and acquisitions, sales, customer
service, and other areas involved with people engagement no longer need guess about the impact of their efforts. The People Value Impact Calculator (PVIC) from Minnesota-based compensation firm TM Evolution makes it easy for the C-suite and management overseeing all stakeholder groups to not only measure the ongoing impact of customer, employee, supply chain and distribution partner, and other engagement efforts, but to compare results with past performance and have reporting independently validated by a disinterested party using the organization’s own metrics. Click here for an example of how PVIC is used in company valuations to identify risks and opportunities in customer and employee management.
Advanced assessment of value creation through people. For large enterprises, the EEA recommends use of the Human Capital Factor, an assessment tool developed by the analytics firm Irrational.Capital that can predict future equity value by measuring the engagement of employees. The methodology has been verified for five years in a row by the quantum analytics department of J.P. Morgan.
For More Information: Bruce Bolger, EEA Founder, 914-591-7600, ext. 230; Bolger@TheEEA.org.