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Posted by Todd Abdalla on 4th Nov 2014
Recognition Awards – Proven Success
A motivated, productive work force is key to a company’s success. Corporate awards recognition programs enhance performance and improve employee focus. Award programs let individual employees know that their contributions to the company are valued. And the effects last long after the award is given. Award winner morale continues to improve and productivity increases.
Engage Your Team
Recognition awards engage recipients. Engaged employees have a higher level of commitment to their work and employer. Engaged employees feel appreciated, perform better and know that they are integral to the company’s success.
Improve Staff Retention
Good employees are a valuable resource. Recognition awards promote and increase staff retention. Employees who feel valued stay with a company longer and continue to contribute. Steven Plochocki, CEO of Insight Health says, “We believe (business awards) help validate what we do in the company and enhance our ability to keep good people.”
Employee awards are great performance motivators but are underutilized by most companies. Choose Legends Corporate Awards to reward employee achievement.
Acknowledge Outstanding Teamwork
When a department or work team collectively produces outstanding work, reward the entire group. Like a Super Bowl winning team, work teams benefit when everyone is recognized with your company’s version of a championship ring, for example. Group awards promote teamwork and inspire performance improvement.
Improve Your Bottom Line
Awards are great for morale, but do they offer value to a company’s bottom line? Motivated, engaged employees take pride in their work and regard the company as their own. They work harder to exceptional good customer service. So customer satisfaction improves and client loyalty grows, which means that revenues increase. Employees feel a sense of ownership and become truly invested in the company. The Return on Investment for a one-time award is long lasting.
Better than Cash
Recognition awards can be more effective than cash for rewarding and motivating employees. Cash only lasts until it is spent. Studies have shown that 47% of employees given cash either paid bills or didn’t remember how they spent their incentive money. Only 9% spent the monetary incentive on personal use. (Wirthlin Worldwide Research)
When surveys ask employees to list the ten things that motivate them, money seldom makes the top three, but appreciation for work done does. Appreciated and motivated employees drive success. A personalized gift keeps on giving, continuously reminding employees of their value to the company.
Do not underestimate the power of a Legends Corporate Awards program for motivating employees.
What Should You Reward?
Some typical employee recognition rewards might be:
• Service - Rewarding employees for long and valuable service with the company
• Achievement – Meeting or exceeding company performance standards
• Innovation – Identifying a new process or developing a new product
• Peer to Peer – Recognition by co-workers for outstanding performance, mentoring, or innovation.