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6 Notable Benefits of Having Employee Recognition Awards

6 Notable Benefits of Having Employee Recognition Awards

The modern-day approach to building a successful enterprise has come a long way. The major shift that took place here is the way how employers engaged their workforce. Leaving aside the earlier custom of satisfying the employees with a handsome paycheck, the focus has now shifted to keeping them engaged. And going with the same there derived the concept of employee recognition awards.

What are these employee recognition awards?

Employee recognition awards are the titles and honours that organisations confer to their employees for their great work and behaviour.

The frequency of these awards may vary across different organisations. Some may give it to their best performers at the end of the month or some may opt for annual awards based on their convenience.

Also, there may be multiple categories within an organisations’ employee recognition scheme in order to appreciate a sizeable workforce.

For example, an organisation can confer different awards to multiple employees based on their job description and varying achievements in the workplace. Like recognising the top performer with an “Employee of the Month Award”, also at the same time appreciating another employee for being punctual with the “Award for Best Attendance” and so on.

Related: Here’s a list of Employee Recognition Award Titles.

6 Benefits of Employee Awards Program

When you recognize your employees’ efforts you directly or indirectly affect a lot of factors which are really beneficial for a modern-day business. All of these factors are really vital for the smooth functioning of your business with some of them helping you build a better employee experience.

Employee recognition doesn’t always need to be delivered in a fancy way.

A simple yet powerful employee recognition idea here could be like saying “Good Job” to an employee who has done extremely well in the presence of everyone.

Here are a few factors that are positively affected by employee recognition awards program.

1. Sense of Gratification and Belonging

Being humans we all like it when we are praised for our efforts and hardships. The sense of gratification that we get here motivates us to do more.

This same principle applies to your employees as well. Nothing can make an employee happier than getting praised in front of their colleagues. The sense of gratification fills them with joy which translates into the zeal to do much better.

Also, when you frequently appreciate your employees for the extra effort they put in their work it instils the wonderful thought of belonging to their organisation. Both these things put together helps the employees keep up their motivation and deliver the best service for their respective organisations.

2. Enhanced Company Culture

The company culture within an organisation is one of the most important factors that decide its success.

In a few words, the company culture is the culmination of an organisations’ aims, ideologies and their overall perspective about all the things associated. Acknowledging the efforts of an employee positively affects the company culture by flourishing the essence of respect for everyone working in the organisation.

Also, having a great company culture helps employers attract the best talents for work which further increases the organisations’ output by many folds in the long run.

3. High Employee Morale

During the initial days of their jobs, every employee delivers their assigned duties with much enthusiasm and confidence. However, as days pass by their confidence and level of motivation takes a hit often due to the repetitive work cycle.

Well, they might be performing their duties even then but on watching closely you may clearly see a decline in their performance levels.

However, this kind of scenario can be easily mitigated with the implementation of an employee awards program within your organisation. When you appreciate your employees for their efforts they feel worthy. And also, knowing that their work is benefiting the organisation lifts their morale.

Further, this way the employers can address various issues like employee burnout, absenteeism, attrition and many more.

4. Acts as an Inspiration for Others

Everyone draws inspiration from individuals who do a great job and are honoured for their achievements.

Similarly, when you give a recognition award to any of your employees it doesn’t only motivate them but it also inspires all the other team members to give their best at work. This way all your employees would very likely engage themselves in a healthy competition further nurturing their skills and abilities. Thus, helping their organisation grab the competitive edge over its competitors.

5. Helps retain the best talents

“Employee don’t leave the company, they leave their bosses.”

One of the prime reasons for employees leaving their organisation is the lack of a culture of appreciation.

The modern-day workforce wants their efforts to be valued and appreciated. Though a handsome paycheck can bring a smile to their faces but that remains only for the day when their salary gets credited. But in the long run, they only care for getting acknowledged for their work which adds to their professional experience.

Appreciating your employees’ frequently even for their small achievements gives them a reason to stay connected to their organisation. Thus helping employers retain their best talents and build a better work culture within the organisation.

6. Strengthens Workplace Relationship

When everyone in the workplace joins hand achieving even the toughest goals becomes much easier.

And for this, maintaining a good relationship with everyone in the workplace is very important. Though there are several ways of strengthening employee-employer relationship but having an employee recognition awards program acts as a catalyst for all your other efforts.

Further, encouraging peer to peer recognition in the workplace helps employers promote camaraderie amongst the employees. Thus, enhancing the professional relationship between everyone in the workplace.

At the bottom line, why should you have such awards program?

Grabbing the top spot in the rat race of success has become the top priority of every organisation. And the ones’ upon whom these organisations are dependent on for achieving this are highly engaged employees.

These highly engaged employees are not those who come and leave the office on time. Rather these are the employees who feel good about what they are doing and have confidence in their employers. Such positive vibes not only keep the employees happy but also replenishes their motivation level. Hence, boosting their productivity at work and encouraging them to cover the extra mile when required.

That’s why to boost employee engagement, organisations adopt many strategies and implement a variety of activities to make their employees feel good. However, a lot of these engagement activities may burn cash for which small enterprises often refrain from adopting such measures. But one simple measure which is both cost-effective and forms a firm base for proper employee engagement is an employee recognition program or employee awards program.

  Working as a Content Marketer at Vantage Circle, Angshuman always stays curious and is passionate about learning new things. Got any question? Drop a mail at editor@vantagecircle.com