Employees thrive on recognition. When companies show their employees appreciation for exceptional work, employee satisfaction and retention increase. If an employee does decide to leave, they will likely do so with positive feelings about the company they worked for.
An employee retention strategy is important for attracting and keeping top talent. While a certain level of attrition is expected, recognizing employee performance will bode well for companies. There’s a reason Fortune publishes lists like “100 Best Companies to Work For.”
One of the best ways to show recognition is through corporate awards. Awards are tangible and signify more substantial than a “thanks.” They’re also given in front of people in most cases, making the recognition public.
Over the years though, many employee awards have become predictable and boring. They lose their effect when presented as simply one of the checkboxes companies have to check off.
More Than a Gold Star
While a gold star might’ve been good enough in grade school, recognition should be more substantial in the corporate world. A custom crystal glass or acrylic award shows fellow employees and others your business is serious about success.
Make Them Fun
This depends largely on each company’s corporate culture, but the same old “length of service” and “exceptional performance” awards can be tiring. Just as there are both Academy Awards for best in the movie industry and Golden Raspberry Awards for the worst, varying things up can be fun.
SurePayroll, a payroll services company based in Illinois, was showcased in the media heavily in 2011 for its approach to unique corporate awards. The company gives out the year’s most impressive screwup award. “Screwup” in this case is not to be insulting. It’s to celebrate employees with big ideas who are not afraid of taking risks and failing.
Unusual awards breathe life into an otherwise stale award-giving culture.
Raise the Stakes
While awards are recognition for past work, they can also be used to promote future performance. Employees who receive corporate awards should be propelled into larger roles. For someone receiving an innovator award, include a budget to develop one of their ideas.
Coming up with meaningful corporate award ideas is essential for employee retention. Companies should thoughtfully approach employee recognition and the awards should reflect that. This can go a long way towards strengthening the relationship employees have with their companies. Awards are also a great reminder of company values and goals.
FineAwards.com helps companies recognize their employees by crafting beautiful custom and corporate awards for Fortune 500 companies and other organizations around the world, providing quality awards in a timely manner. Contact us today to learn more.