How Does One Determine How Much to Budget for an Employee Recognition Program?

This is determined in part by the type of recognition program you are putting in place and the expected return on value from the program. What you may choose to spend on a sales award program is certain to be different that what you might spend on a “years of service” recognition program or a retirement gift.

You’ll want to consider several factors who determining your budget for an employee recognition program, such as the age of your company, type of business, and financial resources available. You also want to consider the “feel” of your company – is it more formal or casual? Traditional or progressive? Answering these questions will help you determine the right types of gifts for your employees (i.e., crystal versus acrylic, brass versus stainless steel) and the corresponding price ranges.

We offer personalized awards and plaques in a variety of finishes, styles, and prices. You may want to consider a perpetual plaque to hang in a centrally located part of your office such as a main hallway, conference room, or waiting area. This type of plaque recognizes multiple employees, is cost-effective, and takes up minimal space. If your budget allows, another nice touch is to reward your employees with personalized individual awards for their desk or office wall.