In both large and small businesses, recognizing employees for their achievements is crucial to the overall productivity of the business. In a CBS report, the shattering number of unhappy employees outweighs the number of satisfied employees.
Feeling neglected and useless in the workplace due to the lack of motivation and incentive to do a better job was at the core of why employees performed so low in this study.
We believe the best way to showcase your appreciation for your team is by recognizing their diligence! Below I have listed 4 factors to consider when deciding what type of corporate award to choose.
A more matured workforce has traditionally appreciated monetary compensation for their overachievement, however the younger workforce has been shown to appreciate a tangible “thank you” rather than money.
The act of providing recognition for retirement, years of service, or sales awards has been shown to be of greater value to the upcoming generation.
The current and upcoming generation of the workforce is one that values relationships and connections to others. That being said, a tangible award on a corporate level functions as an ideal motivator because it can show the employee what specifically they are being rewarded.
“Thank you for your outstanding sales in the 2018 year” is much more appreciated than a financial bonus because they “did well.”
A study held by Anita Bowness, a global leader for Halogen Software, revealed how money can actually function as a “demotivator.” Perspectives of money vary from person to person and unfortunately, cause more harm than good.
In one year, an employee might be rewarded a cash bonus for their hard work towards a project. However, in the next year, is the employee expected to receive the same amount of money or more?
There is always a risk in miscommunication when the employee expects a certain amount rather than what the business owner feels is an adequate amount. In order to avoid this morale depleting (and awkward) situation, choose other types of awards to recognize employees’ dedication!
As a business owner, I want my staff to feel the most motivated in their workplace as possible. When I was working for other companies, I also craved incentives that highlighted my achievements – not just a pay raise. Instead of attempting to motivate others with money, try successfully motivating your employees with beautiful pieces that they will cherish forever.
Corporate awards reflect how the team is achieving company goals and reinforces the vision of your company. Recognition awards for service or years of dedication are a great way to attract outside talent while also maintaining internal expertise.
In most leadership development tactics, encouraging an employee in a team setting has been shown to be highly effective to productivity. This productivity is a result from group encouragement, in which members work together as a team toward a common goal.
Teams are built to perform better together and showcase each other’s talents. In a corporate setting, team motivation creates more positive interactions and a stronger workforce.
Awards draw attention from bystanders, both internally and externally. By engaging with your team in this way, you open the door to outsiders gaining perspective as to what your business stands for, how the leadership functions, and why choosing your corporation would be the best choice for them.
For small businesses, this type of positive publicity is critical in recruiting future employees, expanding sales to other consumers, and increasing productivity within the workplace.
We would love to talk to you about our several options to recognize your team. Call us at 866-924-2778 to talk to one of our staff members.