Impact Measurement Framework
| Metric | What It Measures | Target |
|---|---|---|
| Retention rate (recipients) | Percentage of grant recipients who remain employed 12 months later | >85% |
| Retention rate (non-recipients) | Comparison group retention rate | Benchmark |
| Engagement score (recipients) | Engagement score for grant recipients vs. non-recipients | Higher than non-recipients |
| ROI | (Turnover cost prevented) / (Program cost) | >3:1 |
| Application rate | Percentage of eligible employees who apply | Benchmark against program goals |
Retention Analysis
Retention analysis compares the 12-month retention rate of employees who received hardship assistance to the overall employee retention rate. If grant recipients have a 90% 12-month retention rate vs. an 80% overall retention rate, the program is preventing turnover. Calculate the financial value of the prevented turnover and compare it to the program cost.
Annual Program Review
IQ Insight
Conduct an annual hardship program review that covers: (1) program utilization (number of applications, approvals, and denials); (2) grant amounts (total grants paid; average grant size); (3) retention impact (retention rate of recipients vs. non-recipients); (4) financial sustainability (fund balance vs. expected demand); and (5) employee feedback (satisfaction with the program). Use the review to improve the program and justify continued funding.