Total Cost to Reward and Retain Employees

In times of economic downturn, it is incumbent on every finance leader to take a hard look at spending and make cuts as needed to keep the business strong. While every cost should be on the table, if your organization has the finances to do so, APQC (perhaps counterintuitively) recommends leaving your employee reward and retention spending intact and making investments in keeping morale high. Not every company will be in a position to do this, but for those that can, it can make all the difference for struggling employees. This article expounds on the metric "The total cost to reward and retain employees per $1,000 revenue," from APQC's Reward and Retain Employees Performance Assessment.