A compound comprising a class of sulfonated triorganophosphine compounds of formula R1R2P—R3[—O—(CH2)n—(SO3M)]m, wherein the R1 and R2 are selected individually from alkyl, aralkyl, and alicyclic groups, wherein R3 represents a divalent or polyvalent alkylene or alicyclic radical that is bonded to the phosphorus atom and to one or more sulfonate substituents via an alkylether link, and further wherein R3 does not contain any aryl moieties; n is an integer reflecting a number of methylene groups in the alkylether link; M represents a monovalent cation; and m is an integer representing a total number of sulfonated alkylether substituents. The compound is useful as a ligand in transition metal-ligand complex catalysts that are capable of catalyzing the hydroformylation of an olefinically-unsaturated compound with carbon monoxide and hydrogen to form one or more corresponding aldehyde products. The ligand is incapable of alky-aryl exchange, thereby leading to reduced ligand usage and improving ligand and rhodium recovery and recycling.