Press release
Measuring ROI for Incentive Programs Now Easier with Incentive Research Foundation Free Online Tool
St. Louis – Oct. 4, 2011 – Is there an easy way to measure the impact and Return on Investment (ROI) of today’s incentive, reward and recognition programs---especially beyond sales and manufacturing? The Incentive Research Foundation (IRF) has developed a “free” online tool to do just that.The Master Measurement Calculator Tool is being introduced today as part of the IRF’s day-long symposium, The Next Level: New Uses, Research and Tools Supporting the Business Benefits of Non-Cash Motivators at the Motivation Show at Chicago’s McCormick Place West.
“With today’s emphasis on energizing employees toward outstanding performance in a recovering economy—especially in intangible areas like service—we are happy to be able to present not only the latest independent research on incentive and recognition practices, but to also provide incentive users, resellers and suppliers with an easy-to-use online tool that measures the impact and ROI of incentive, reward and recognition programs,” says IRF President Melissa Van Dyke.
Van Dyke explained the free online tool takes incentive program planners through a process on how to estimate ROI for a program, helping them think through cost aspects and anticipating potential adverse effects. Once the program planner enters numbers into the tool, they are provided with a report that provides tangible numbers and dollar values that can be used to create incentive program budgets. Such measurements are important to financial executives who want to see anticipated effects to the bottom line.
“By simply plugging in available cost and expected outcome information, users can generate a straightforward e-mail report that forecasts their total costs, cost benefit ratio, ROI and data collection plan,” said Van Dyke. “Our hope is that managers will be able to devise incentive campaign goals and measurements for almost any type of job.”
To use the tool and review the research and process behind it, go to the IRF home page and click the ROI button at www.theirf.org.
About the IRF:
The Incentive Research Foundation (www.TheIRF.org) funds and promotes research to advance the science and enhance the awareness and appropriate application of motivation and incentives in business and industry globally. The goal is to increase the understanding, effective use, and resultant benefits of incentives to businesses that currently use incentives and others interested in improved performance.
CONTACTS:
Sue Voyles
734.667.2005
sue@logos-communications.com
Melissa Van Dyke
314.473.5601
m.vandyke@theirf.org
About the IRF:
The Incentive Research Foundation (www.TheIRF.org) funds and promotes research to advance the science and enhance the awareness and appropriate application of motivation and incentives in business and industry globally. The goal is to increase the understanding, effective use, and resultant benefits of incentives to businesses that currently use incentives and others interested in improved performance.
Incentive Research Foundation
100 Chesterfield Business Parkway
Suite 200
St. Louis, MO 63005 USA
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