Top Reasons to Give Employees Awards and Trophies
Do you have an employee award program in place?
If not you are losing out on an excellent opportunity to transform the atmosphere within your business. Trophies and awards may seem like trivial things, particularly if you are concerned with large accounts and quality control problems, however you might be surprised how quickly your bigger problems are resolved when you show even token gratitude for the people who make your business a reality. Here are some of the top reasons giving employees awards and trophies could be so beneficial to your bottom line.
Turn Over Rate
One thing that will quickly kill a business is a high turnover rate in employees. Every time you must hire and train someone new, there is a great deal of lost productivity and expense. The business must pay wages to an individual who has not quite got it all down yet and you will have to pull employees off productive jobs to show them the ropes. Now, you have two people not working up to speed which is hurting your bottom line.
If you ask people on exit, the biggest reason they walked off their last job the reasons may surprise you. It is not money, hours or even advancement but a lack of appreciation that sends many employees in search of greener pastures. Having an award and trophy program shows employees that you do recognize all of their sacrifices and hard work which will increase their satisfaction with their job.
The time you take to create a program of rewards for your employees will translate into loyalty for you and the company, which is another great way to combat turnover rates. Moreover, a person who genuinely likes you or the company will work harder and longer at their position, giving you increased productivity.
Is your business in a slump at the moment? When employees become bored or stuck in a rut it is common for productivity to lag, which is not surprising. You try doing the exact same thing over and over again for days and weeks on end. After awhile you get to where you would rather be anywhere else but work and there is little if any joy in the position. A contest could perk everyone up and set new records for productivity. Especially if there is a small monetary award to go along with the cute trophy. Never underestimate what people will do for $25 and a trophy inscribed with their name!
Birds of a Feather
You have likely heard that saying since you were a small child, and it does have some truth in it as does one bad apple spoils the bunch. When you have negative attitudes in your organization they can begin to spread like wildfire. Complaining, griping, dissatisfaction and anger will cripple your business if it is not addressed. People who have to this point been very happy in their position will begin to grumble with the rest.
Instituting a program that offers trophies and recognition is powerful ammunition against bad attitudes. Hold a bi-annual or annual event that lauds the accomplishments of the top people in your business or specific department. Not only will the awarded employees be happy with the public acknowledgement but also you give your people the chance to get together outside of the work place and enjoy a very positive experience. Perhaps you could have an employee of the month in each department and then an overall top three employees of the year. Whatever you do in this regard do it with gusto and from your heart. It will not matter if the ceremony is a little cheesy as long as your heart is behind it!
Have you seen the effect that poor self esteem can have on a person's ability to perform their job? When a person feels worthless all the time, it will show up in their efforts. If you are dealing with a depressed individual of course, you might want to privately offer some assistance, but if this is someone, who is just a little down awards or trophies could help pull them back from the abyss.
You see when you give them a trophy for outstanding performance you are stating to the rest of your organization that they are a worthy individual who is valuable to the company. Now, when the public acknowledgement dies down they will still have a nice award for their wall, which will serve as a constant reminder of their worth to you and your business.
Before you get it in your mind that trophies and awards must be those cheap looking bowling alley variety offerings, you should know there are a variety of high-end awards as well. Why not institute a program throughout the year that rewards productivity, quality or new clients and award an employee a small plaque either monthly or quarterly and then purchase a beautiful crystal creation for the grand finale at the end of the year? Not only will you increase excitement and competition throughout the year you will give them something bigger to look forward to at the end. Employee morale, productivity and quality will all sky rocket if you implement this correctly.
People want to be recognized, appreciated and validated. The best way to do this is by rewarding them with nice trophies and public recognition. While many employers get the idea that wages and benefits are all employees are looking for they are wrong in this assumption. A person will work longer and harder for a company they love and respect as opposed to one that never acknowledges them beyond handing them a salary.