Every company is finding ways to improve employee satisfaction and minimizing employee turnover. Giving awards is one way to recognize the potential employees' efforts in the firm. Moreover, it is is observed that awarding valuable employees is better than rewarding them, especially from an economic point of view.
No doubt getting awards in front of the rest of the colleagues on a month on month basis in highly moralizing. Apart from the appreciation part, it is vital from the company's productivity and growth point of view.
However, there are methods suggested by experts to make sure that awarding proves fruitful from many perspectives.
Here are some methods that will ensure that your awarding program will be helpful from various perspectives.
1 Customize the Awards
Giving out awards is for a real purpose; hence, it must be done with that purpose in mind. The employees should feel enamored while getting the honor. One important thing most companies often neglect is the customization of the awards.
An award with the employee's name is the most basic way to customize the employee's prize. There are other things you can put on the trophy to make the employee feel genuinely rewarded. Things like the type of achievement, the rank in the success, the kind of performance, and so on will make the award more valuable.
2 In Combination with Other Perks
One of the complaints of most employees is that the awards are cheaper substitutes to rewards in the forms of monetary or non-monetary benefits. Things like the personalization of the honor can undoubtedly make the employees feel moralized; however, the non-utility nature of the award will signify less value to the same.
Some companies offer other perks like monetary incentives, standing ovation, non-monetary items (goodies) for giving out, and so on. The goodies, especially, are very inexpensive items but have several utilities and are very attractive. These goodies are usually things the employees will use often or daily or will show off to others.
Some of the commonest goodies are keychains, backpacks, wallets, clocks, watches, and other similar items. That can make these rewards more unique is the customization. A watch with your company logo and name along with the employee's name and the picture works wonders. It is the best way for them to feel their worthy contribution to your firm, and this way, they will be likely to continue performing well in the future. Such custom trophies will also work like potential marketing tools for your company.
3 Along With a Celebration
Most companies give out the awards to the employees during their working hours. This option seems feasible because it does not take a lot of time, and there are not many prior arrangements required.
It is scientifically proven that a reward with other series of goodwill gestures from the employer can help the employee develop a right attitude and overall positive intentions about the company.
The best thing to do to give out unique corporate awards to make them memorable, for the employees, is crafting a better organized 'rewards and recognition' program. The event can be organized with music and a feast for the employees.
Usually, arranging quarterly events is the best way to keep employee engagement level up. However, some companies also offer half-yearly events, which help them cut down on the budget without affecting the employee's attitude much.
4 Choose the Unique Corporate Awards
There are various styles and finishings you can give the awards with. The different styles are available for companies dealing with different types of businesses. The styles can also represent the employees' tenure and value for the firm. Therefore, choose the right symbol to make the award invaluable.
Other things like the color combination of the award suiting your firm's overall outfit will be the best for the employees to commemorate their success with your firm's outlook.
These were some of the methods that will ensure that your awarding program will be helpful from various perspectives. This way, you can ensure that every award proves its worth and fetch great results in the long run.