Most employers give recognition awards to their employees as a token of appreciation for their performance, dedication and achievements. Recognition awards can be presented to a particular employee for his/her outstanding contribution or can be given to a team, who has successfully met assigned targets.
A lot of business think a couple of times before launching employee recognition programs. They often think that it is a waste of money and will not yield anything productive. This is wrong. Featured below in this article are 7 reasons why you should give away awards. If you read them carefully, you will realize that most reasons overlap with each other. So go ahead and pamper your employee!
1. Promotes Your Brand Name
Employee recognition awards work in same way as promotional products. They highlight your brand name and remind your recipients of your company name wherever they are displayed. So get your company name and logo imprinted on recognition awards. They will serve as ideal advertizing billboards for marketing campaigns. You can order these awards in bulk and avail discounts.
2. Encourage Stronger Performances
Rewards generate motivation among employees, lead to job satisfaction and encourage them to perform better at the workplace. It encourages healthy competition among employees as every individual strives to do better. It increases productivity, which means higher profits for organizations.
3. Retain Quality Employees
Due to economic upheaval around the world and greater attrition rates, employees often change their jobs and look out for better job opportunities. It has become difficult for employers to retain a pool of talent within the organization. In such circumstances, it is important to recognize the efforts of performing employees as it motivates them to remain loyal to the organization.
4. Achieve Goals
It is easy for an organization to achieve long-term as well as short-term goals if its employees are motivated. A company that offers awards to its employees has a right mix of experienced and skilled individuals. This scenario is not seen in companies that ignore such reward schemes.
5. Customer Satisfaction
Employees who are recognized by their employees are productive, less stressful and satisfied. This translates into greater customer satisfaction. If your customer care or sales representatives are happy then it reflects in their attitude and the way they interact with customers. It will help in retaining old customers while attracting new ones.
6. Research Proves it
Recently, The Walt Disney World Resort started employee recognition awards for their employees. It lead to a 15% increase in employee satisfaction rate which was noted by immediate supervisors. The result showed higher customer satisfaction scores, strong willingness to return and increase in sales.
7. Strengthen Relationship with Clients and Customers
Employee recognition gifts are classic gifts that will strengthen your relationship with customers and clients. It will help you connect with individuals and develop your business under a common roof in a way that is not possible in a board room.
Hope these 7 reasons convince you to go for recognition programs. So go ahead and place an order for trophies, plaques and other awards to inspire your employees and clients.