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. And going with the same, there appeared the concept of employee recognition awards.
What are these employee recognition awards?
Employee recognition awards are the titles and honors that organizations confer to their employees for their outstanding work and behavior.
The frequency of these awards may vary across different organizations. 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 organizations' employee recognition scheme to appreciate a sizeable workforce.
For example, an organization can confer different awards to multiple employees based on their job descriptions and varying workplace achievements.
Like recognizing top performers with ** "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 many beneficial factors for a modern-day business. All of these factors are 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 exceptionally well in the presence of everyone.
Here are a few factors that are positively affected by the employee recognition awards program.
1. Sense of Gratification and Belonging
As 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 instills the beautiful thought of belonging to their organization. These things help the employees keep up their motivation and deliver the best service for their respective organizations.
2. Enhanced Company Culture
The company culture within an organization is one of the most important factors that decide its success.
In a few words, the company culture is the culmination of an organizations' aims, ideologies, and overall perspective about all the things associated. Acknowledging an employee's efforts positively affects the company culture by flourishing the essence of respect for everyone working in the organization.
Also, having a great company culture helps employers attract the best talents for work, further increasing the organizations' 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 enthusiasm and confidence. However, as days pass by, their confidence and motivation take a hit often due to the repetitive work cycle.
Well, they might be performing their duties even then. Still, on watching closely, you may see a decline in their performance levels.
However, you can easily mitigate this kind of scenario by implementing an employee awards program within your organization. When you appreciate your employees for their efforts, they feel worthy. And also, knowing that their work is benefiting the organization lifts their morale.
4. Acts as an Inspiration for Others
Everyone draws inspiration from individuals who do a great job and are honored for their achievements.
Similarly, when you give a recognition award to any of your employees, it motivates them and inspires all the other team members to give their best at work. This way, all your employees would engage themselves in a healthy competition, further nurturing their skills and abilities. Thus, helping their organization grab the competitive edge over its competitors.
5. Helps in Retaining the Best Talents
"Employees don't leave the company; they leave their bosses."
One of the prime reasons for employees leaving their organization is the lack of a culture of appreciation.
The modern-day workforce wants their efforts to be valued and appreciated. A handsome paycheck might bring a smile to their faces, but that remains only for the day their salary gets credited. But in the long run, they only care about 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 organization. Thus helping employers retain their best talents and build a better work culture within the organization.
6. Strengthens Workplace Relationship
When everyone in the workplace joins hands, achieving even the most rigid 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 the 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 an awards program?
Grabbing the top spot in the rat race of success has become the top priority of every organization. And the ones upon whom organizations are dependent for achieving these are highly engaged employees.
These highly engaged employees are not those who come and leave the office on time. Instead, 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, organizations adopt many strategies and implement a variety of activities to make their employees feel good. However, many 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.