A compound comprising a sulfonated triorganophosphine of formula R1R2PR3[SO3M)]n, wherein R1 and R2 are selected individually from alkyl, aralkyl, and alicyclic groups; wherein R3 represents a branched divalent or polyvalent, alkylene or alicyclic radical that is bonded to the phosphorus atom and to one or more sulfonate substituents, and further wherein R3 does not contain any aryl moieties; M represents a monovalent cation; and n is an integer representing a total number of sulfonated 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 alkyl-aryl exchange, thereby leading to reduced ligand usage and improving ligand and transition metal, e.g., rhodium, recovery and recycling, as compared with prior art ligands.