Having an employee recognition process in place certainly boosts the performance and productivity of your employees, and thus, of your overall company. Every performing employee wants to get rewarded for his/her work so that they can get motivated to repeat their success. Giving corporate awards is one of the best ways to reinforce that kind of employee performance at your workplace.
Why Should You Reward and Recognize Your Employees?
You're employing human beings, not machines. They are motivated to work more and better when you appreciate them by recognizing their good work. When they are respected and valued for their contribution, their level of satisfaction and productivity rises. Once their productivity rises, they are automatically motivated for keeping it steady.
Here are the benefits (for your company) of rewarding and recognizing your employees:
- Greater employee satisfaction and enjoyment of work that leads to increased individual productivity.
- The retention of quality and loyal employees increases which also helps them in working more as a team.
- The cost to the company over each employee automatically decreases as each employee starts working as a team with increased productivity
How Does an Organizational Reward System Help?
When employees get rewards and recognition that shows the generosity of the organization's topmost people, they get highly motivated. It shows to them that their hard work is recognized by everyone, including the topmost authority. A raise in the level of satisfaction in your employees can go far in the increased productivity of your company. It's not necessary to reward by remuneration only. One of the best ways is to give awards to your best resources. There are a variety of options available in corporate awards category that comes in acrylic crystals, wooden and glass plaque materials and they also offer text and image customization options as per your need.
What Are the Factors that Make Employee Recognition So Effective?
There are certain components to take care of when planning for employee reward and recognition program. It will help your program achieve its goals and avoid any unintended exclusion of any deserving employee.
Here are the factors:
You should convey beforehand to your employees about the criteria for what constitutes performance that's worthy of an award.
The method of recognition should be in a way that everyone, from top to bottom, gets to know about the success of the achievers.
Give awards to anyone who performs at the level stated in the criteria, irrespective of their position in the company.
You should also provide a formal recognition letter alongside the award. This will remind your employee why he/she received the recognition.
Stabilize the Workplace
The act of recognition, appreciation, gratitude, compliment, feedback, or acknowledgment creates a positive work culture while helping your employees take pride in their achievements. While increasing employee retention rates, recognition helps attract top talents into your organization, thus contributing to your company's long-term success and growth.
Notice Lower Absenteeism
Recognizing an employee for their commitment and excellence at work ensures that their efforts help the organization achieve better results, increasing their engagement towards work while reducing absenteeism.
Create a Productive Workplace
While making employees feel happier, satisfied, and honored, recognition also makes them feel positive about their performance. This helps them work harder and more efficiently, resulting in increased productivity.
Encourage Friendly Competition
Appreciating an outstanding performance or a job well done with an award will motivate your employees to be more productive. When an employee receives an award, other employees will compare their performances with the awardees and improve next time. This will encourage healthy competition among your employees, keeping them engaged and focused on work.