Why Employee Awards And Recognition Matter For Businesses

 Why Employee Awards And Recognition Matter For Businesses

Introduction

  • Are you a business looking to make the most out of your employees in terms of increasing their outputs?
  • Do you know how awards and Employee Recognition can help encourage and motivate employees to do better?
  • Have you tried researching how businesses can increase revenues just by starting an employee awards program?

A single person can have an idea. However, if that idea becomes reality, it requires a team of committed individuals to see it through. Employees are the life-blood of any organization. All successful organizations, which you see in front of you have reached there not just by taking good strategies business decisions. 

The employees have played their part in making that business a success. In recent years, a lot of interest has been raised in Human Resource (HR) circles about how businesses can make the most out of their employee awards and recognition programs. 

In this article, we are going to look at some important aspects of the same. The intention is to help businesses and owners understand how it works.

Employee Awards and Recognition: What are they?

As a business, just paying salaries and incentives, including bonuses to your employees is simply not enough. This is because employees are at the end of the day actual human beings. They have feelings, emotions, morals, and values. 

Money and economic considerations might help in motivation, but they have their limitations. Employee awards and recognition can show that businesses care that much extra about their employees. This in turn can have positive consequences on business operations. 

It is not only the big businesses that have the resources to carry these programs out. Small businesses too can execute them periodically to make their employees feel valued entities of the organization. An award trophy, with the recognition and name of the employee, can work wonders to boost his or her confidence. 

Employee Award Ideas for Businesses in 2021

Businesses should take a lot of interest in the wordings of the award. This plays a major role in accentuating the feelings and emotions of the employee that has won the same. For 2021, businesses can consider the following kinds of awards- 

  • Overachiever of the Year Award
  • The Innovation of the Year Award
  • Team of the Year Award
  • Newcomer of the Year Award
  • Excellent Leadership Award of the Year
  • Business Achievement Award of the Year
  • Top Mentorship Award of the Year
  • Loyalty and Trust Award of the Year

As you can see from the above list, the different kinds of awards can be divided into different segments and categories. It can cover employees, both young and old. Care should be taken to ensure that you have a wide array on offer so as not to make anyone feel left out. 

However, you should also ensure that not every employee is getting the award for it takes away the exclusivity factor from the award programs. 

Things to Consider when planning an Employee Awards Program

A common mistake that most organizations make when planning employee awards is not planning enough for the same. They think of this as an event that should just be ticked off on the calendar. Holding employee award programs just for the sake of it is not going to help an organization in the long run. 

According to the top HR professionals, employee awards and recognition can be a great way to assess and appraise employees. When it comes to promotions, increments, and other benefits, these awards and the program that leads to them can become a systematic process. 

Proper budgeting, timelines, stage, special locations, etc. should be earmarked in the company’s calendar to hold this event on a yearly basis. If possible, it could be made into an event, which all employees look forward to right through the year. 

The Final Word

The best employee awards and recognition programs can have great advantages for a business. It can lead to the creation of a highly productive and streamlined unit that gives its all one hundred percent of the time.

Related post