To drive optimal results, research suggests allocating 1-2% of salary to real-time recognition. To compensate for the investment in a culture of recognition, companies can expect to drastically increase employee performance and the ability to retain top talent.
On average, companies using Guusto provide each Key Manager with about $10 of spending budget per week for every Employee they oversee. So for a Key Manager that overseas 20 people, it works out to a spending budget of $200 per week to recognize their high performing employees. And for a company with 30 Key Managers loaded as Team Members that oversee 600 Employees, it works out to a total Team Budget of $6,000 per week.
Of course, some companies do more and some do less. But those committed to creating a culture of real-time recognition will see amazing results!
Still have questions or would like some more guidance? Contact us.