Employee recognition awards count a lot in helping corporates retaining good employees. Corporates usually spend between 1-2% of payroll on employee rewards. Why awards are important for employees? Employees who feel valued and appreciated in their job perform better and the rate they quit is reduced by 31%, according to statistics. This means that choosing and giving your employees making a difference the right recognition awards is a vital business decision.
For anyone of the worker, recognition is not a “want”, yet it’s a “need”. Maslow’s hierarchy of needs illustrates that the top psychological need of a human is to “belong and feel appreciated”. Employees' recognition and appreciation in their jobs are given by peers or in a group setting. Even the most encouraged and motivated employees need regular recognition and rewards to generate their own intrinsic working motivation.
Have you ever wondered why some employee recognition awards programs make some progress while others seem to tick over? Take a look at the common elements of some great employee recognition programs below.
The ultimate purpose of employee recognition awards ideas is to publicly acknowledge their successes. At the very least, recognition for employee making a difference should be announced to the entire team or department.
Employee performance awards should not just be given in public; they need to be given timely. If the blank glass awards are given only once or twice a year, employers are hardly possible to reward real accomplishments that employees made. Major employee performance or achievement could have already faded from memory by the time either yearly occasion comes around.
You should consistently reward employees for their achievements. Employee recognition should be a routine for most companies. The way how the company recognizes employees should be consistent with the criteria for recognition. For example, you should give recognition awards to every employee making a difference or meeting your goals, not just the one who met the goal first.
Recognize your employees for their hard work is pivotal to achieve successful recognition programs. Your recognition will let them aware that everything they do in your company is invaluable in keeping the whole ship afloat. Considering that, clearly defining a number of employee recognition award categories in which employees can get proper recognition for their efforts is necessary. Below are some examples of employee performance awards.
1. Department MVPs Awards
It's similar to "employee of the month" awards, but this award acknowledges the people who represent the best their individual departments have to offer. No matter that people are human resources, sales, production or even janitorial staff, their hard work deserves to be recognized. Carry out this recognition awards program enables you to have a strong grasp on performance management and allow you to identify the best candidates in the department.
2. Awards for Team Player
It's crucial to corporate departments, in general, to be in a position to operate together collectively, therefore, it's vital to recognize the people who have a positive impact on workers' morale. It’s not meaning that everyone needs to be a cheerleader in the team. If someone goes out of his or her way to ensure everything among department cooperation runs smoothly, no matter in terms of the actual work being done or simply managing interpersonal relationships, employee making a difference in his department should be given recognition awards for team spirit.
3.Most Creative Recognition
Encouraging your employees who come up with creative ideas that are good for your corporate culture or business is crucial. If your employee has proactively developed a creative solution to a problem or issue that had been tough for a department to tackle, the recognition awards for him or her will help you further encourage most other employees to contribute their ideas next time. A culture of innovation can lead to increased workflow, so make sure your employees not only can but are encouraged to think outside the box when a problem arises!
4.Extraordinary Diligence Award
If you recognize your employees' diligence and effort, you're likely to encourage others to follow in the award recipient's footsteps. In case you're able to get some of your employees to give just 5% more effort, the accumulative effect on your bottom line is going to be recognizable. That is to say, by gathering all the extra effort your employees contributed, your company can lead to some great results!
5.Awards for Employees' Work Anniversaries
Recognizing employees reaching important milestones in their job filed is important, as this will make them feel their efforts and years they have put in are worth it. It's an important task to create a database of every employee's start date in the company, and prepare them with unique presents and awards on the anniversary of those dates. You can have the best employee of the year description engraved or carved on the recognition awards to show your appreciation for them. This is not just a great way to say "thank you" for all the years of hard work they've dedicated to your business, but also a good way to cultivate their loyalty to your company.