You've finished a big project and you get a call that you're wanted in the boss's office. It's not a great feeling, and it's embarrassing to slink out of the office red-faced while the other employees glance at you and think, "glad that wasn't me!"
When it comes to work performance, you might be used to only hearing negative feedback from your managers. However, what does positive feedback do? It turns out there are many benefits from showering employees with accolades that you may not have considered.
Here are 9 benefits of corporate awards and employee recognition...
1. Better Office Morale
If you make a practice of recognizing employees that are doing well instead of just those that aren't, you'll create a more positive workspace. That means people will be happier, communicate more openly and not be afraid to approach management with suggestions or concerns.
No one likes hiding behind their cubicle walls waiting for the next person to get hauled into the boss's office for something they messed up. They will also likely spend more time focused on their tasks rather than complaining.
2. Improved Productivity
If you start handing out praise for things that go right, then you'll show that working hard will pay off. It will also reinforce positive behaviors from those who get the recognition because they will want more positive feedback.
This is a win-win for the company and the employee. The employee feels valued for increasing his or her output, and the company stands to make more money from being able to deliver more to clients faster.
3. Attracting Top Talent
Perhaps you have a role to fill, and you want a candidate that has a reputation for bringing businesses to the next level. While you can lure them with compensation and benefits, they might want more than that.
This is where employee recognition comes into play. If you have a work culture of praising employees, as well as organizing awards nights where employees receive plaques for various accomplishments, the outside world will probably hear about it.
When employees are getting awards and having their moment to shine, they will probably want to share about it on social media. That's free advertising for your brand, and another way to draw in potential employees and customers.
That top talent prospect might think to themselves, "now that's a company I want to be part of."
4. Building Teamwork
Company awards can help build interpersonal relationships among employees. One way of achieving this is by letting employees nominate others in the office for a particular award. This helps build camaraderie and gives them a way to thank each other for their support in the workplace.
You could also opt to hand out awards to an entire department and throw in a pizza party for it to boot. That can motivate other departments to work together more effectively to win next time around.
5. Encouraging Lower Turnover
One of the biggest challenges for a company is retaining its top talent. Not only does this mean one of your best performers has walked to join another company that seems more attractive to them, but it also means time and money spent on training their replacement.
In fact, some experts say that it can cost a company twice the salary of an employee to recruit and train new staff.
Creating a positive and appreciative environment that recognizes employee performance is one of the benefits of corporate awards. It won't guarantee that your best staff will stick around when another company makes an offer, but you can be sure the way you've treated them will be a consideration.
At some point, you'll have to sit down and renegotiate a salary for one of your employees. It could be counterproductive to turn them down for a raise and then expect them to maintain or increase their performance.
If you do have to say no to a raise request, there are effective ways to do it without smashing the morale of the employee.
However, having an employee recognition program in place that offers awards and other cost-effective incentives can keep employees content in the meantime. It's also most likely cheaper to hand out company awards than it is to hand out cash bonuses.
7. Better Image To Clients
Say a new client comes into your office to discuss a project they'd like you to do for them. However, they haven't settled on whether you're the right company to do it. You give a great pitch to them, but so does three other companies.
The first three companies the client met with had a decidedly bad way of dealing with their employees. They noticed there was an air of authority and no one seemed to be enjoying their jobs.
Then they come to your office, where plaques are hanging on walls and in cubicles, and employees seem genuinely engaged and happy. It doesn't mean you'll get the contract, but it sure won't hurt your chances.
8. Stronger Brand Loyalty
Your company's brand identity is important to consumers. It dictates what your company's goals are and its corporate values.
But brand identity is also important inside the workplace. If your front-line salespeople are tuned in to what you're trying to achieve, they're more likely to convey that to the customer. An employee that is constantly dumped on to improve is not likely going to present your company in the best light.
9. It's Fun
Not everything you do in the office needs to have a monetary benefit. Sometimes, just the thrill of bonding and sharing other people's successes can go a long way.
Think of creative ways to present employees with an award. It could be a special evening at a banquet hall complete with catering and a band, or it could be something lower-key (and lower cost) like a gathering in the boardroom.
Embrace the Value of Corporate Awards
There's no denying the positive power of corporate awards and employee recognition as a way to boost productivity and morale, as well as employee satisfaction!
To find out more about ordering company awards and other personalized items, call or visit us today.