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Recognizing Milestones with Awards Supports Employee Retention

Employee Retention Through Recognition Awards

 

One of the most basic human needs is a deep-seated need to be recognized in our actions. This is universally true; those that have put in significant effort enjoy getting recognition for their hard work.  Take an especially talented basketball player; many times he or she will tell you that the best part of sinking a shot is hearing the crowd go wild immediately afterwards.  The need to feel recognition is one that affects us all in ways that a lot of us might not realize, and this form of feedback is often absent or scarce in the corporate world.  Greater use of corporate awards can enhance organizational success and its mission.

 

All too often employees feel that they are nothing more than an anonymous cog in a giant machine, and that their unique set of skills and talent goes without being appreciated by those that are in charge of the workplace. We know that this couldn’t be further from the truth, but even the slightest feeling of being unappreciated has a tendency to plague even the most competent of all employees and it can also become contagious, affecting workplace culture, the image of the company and even its performance levels.

 

 

Showing Appreciation with Corporate Awards

What can be done about employees who are feeling unappreciated? Sitting down and letting them know how much they mean to the company sounds nice, but it’s often unrealistic considering the amount of time and effort that would be invested doing so, especially in large organizations. An effective way to go about rewarding the loyal employees would be honoring certain behaviors or milestones with an award.  Recognizing extra effort through employee awards via employee of month awards in one example.It’s a perfect solution for a number of reasons. First, it is a great way to show your employees that they are a critical and important component in the company, and secondly, personalized acrylic awards for example proves to the employee that they are in fact appreciated and that is evidenced in the presentation of the award and its underlying meaning and possession.

 

There are, however, real benefits that can be enjoyed when it comes to giving employees beautiful glass and crystal awards for their hard work and loyalty; other than just making them feel good about themselves. From a business viewpoint, it makes a lot of sense to maintain your workforce at its full potential at all times. Retention of needed talent is a growing concern for many companies, especially those in certain industries making it even more important to implement retention efforts. If one of your employees leaves the company, you will have to spend precious time and resources to make sure that their vacancy is filled.  And while you’re looking for replacements, your company is only operating at a fraction of its potential, something that most everyone in a management role is going to want to avoid.

 

Presenting Awards for Years of Service

A simple award (clear, jade or economy) is something that can not only help make someone feel better about their contribution to the company, but also it can have serious benefits to the company as well.  Although you could give awards and trophies for just about anything (exceeding sales quotas, attendance, enhancing efficiency), frequently employers prefer to reward their employees with an award when they hit a milestone with the company, and that can be done too. Some people liken their relationship with their company to that of a marriage. When you hit a milestone (say 5, 10 or 20 years), then you certainly have a case for a celebration and the right to be recognized for service.

 

Those that have worked at your company for 10 years or more prove to be an enormously valuable asset that cannot simply be replaced by someone else if they were to quit.  This is evident in most baby boomers which hold valuable knowledge and information that will likely cause a lot of “brain drain” when they begin retiring in large numbers.  They have extensive knowledge of the inner-workings of your company and it is almost always in your best interest to keep them onboard whenever and for as long as possible.  Their ability to train and transition their knowledge to fresh new employees is crucial to future success. 

 

Awards Help Organizational Culture and Retention Efforts

This is also important for those who are in the middle of their careers and may begin wondering what else is out there.  Although there are other ways of enticing them to stay with the company (specifically financial rewards), giving them a personalized award can still be an incredibly effective way to keep them working at your company and not moving to another place that could potentially offer higher pay rates. Not all employee satisfaction is derived from money; the culture of the company can override that, especially if it focuses on reinforcement and feedback which is often absent.

 

Employers often write off the effects of giving an employee a medal or award that could potentially have such a profound effect on the business. Employee loyalty is extremely important to those in management and HR positions, and if you want to get the most out of your workforce, then perhaps it is time to look into some awards to showcase your appreciation for your hard-working employees. You’ll recoup the ROI quickly as employee motivation and performance often increase extremely quickly with the right recognition plan and awards.


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