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Reward & Recognition ROI Calculator

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ROI Calculator

Reward & Recognition ROI Calculator

Replacing an employee is expensive; retaining one costs much less. A well-designed Reward & Recognition programme can significantly reduce staff turnover

Calculator assumptions

  • Turnover cost is 50% of the average annual salary
  • £25 per month, per employee, is invested into Reward & Recognition
  • Investment reduces your turnover rate by just 15%.

High Staff Turnover Costs

It is generally estimated that the cost of replacing a salaried employee can amount to between six to nine months' worth of their salary. This estimate encompasses recruitment costs, training expenses for the new hire, and their salary - see below for more details.

Implementing a Recognition and Rewards (R&R) strategy as part of a broader employee benefits scheme significantly reduces turnover. Many companies observe lower employee turnover rates after introducing R&R initiatives. Recognition of contributions helps employees feel valued and acknowledged for their hard work.

Additionally, companies with strong R&R cultures attract higher quality talent. A Glassdoor survey in 2023 highlighted that 76% of job seekers consider a company’s culture and values important when applying for a job.

Further reading: Combatting High Staff Turnover: Strategies for Workplace Retention, What is Reward & Recognition (R&R)?

ROI Calculator

Employee Turnover Costs

Replacing an employee is expensive; retaining one costs much less. A well-designed Reward & Recognition programme can significantly reduce staff turnover.

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