When a business evaluates their resources in terms of increasing the net profit, is the value of performance awards even considered? All too often, management considers only the hard resources without giving thought to the personnel running or operating those resources. In all forms of business, personnel is the driving force in expanding profit, regardless of the economy. Yet, other than a occasional slap on the back at a meeting, outstanding job performance can often be neglected.
The obvious comparison is that your executives operate the departmental machine composed of employees on different levels. For any department to be productive, the “machine” needs to operate smoothly on all levels. While establishing a formal plan for presenting corporate awards may not be met with as much enthusiasm as a bonus vs. production schedule, it will definitely reinforce the necessity and expectation of reaching performance goals.
Boost Productivity
A happy employee equals a productive employee. This truism holds whether that employee is a vice-president or a shipping clerk. Wherever your business is now, your employees are productive elements that will drive it to the next level. Creating a corporate award program is vital to the growth of the company’s net profit because it develops an environment where everyone can be proud of (and honored for) their effort. Tangible recognition with some form of corporate award, whether a plaque, trophy, medallion or pin is a proven program for maintaining staff morale and increasing productivity.
Employee Recognition
The variety of Corporate awards are such that they can be used to honor or recognize employees regardless of position. “Employee of the Month” awards are standard in corporations both large and small. This type of award is often based on employee production, and the recipient is often chosen by a vote by departmental peers. Choosing the recipient in this manner engages all the employees, and makes everyone aware of his own effort in relation to the winner.
The award for the “Employee of the Year” is most often given at the annual company banquet, picnic or other event . This coveted award is given the employee who has contributed the most to the business’ success and/or growth in that year. The award is generally a beautiful crystal award or other ornate award commensurate with the company’s financial worth. Then there are “Departmental Awards” or plaques that are given to departments or divisions that have shown the greatest improvement or have met their goals throughout the year. Giving awards to individuals within departments demonstrates that individual efforts are noticed and appreciated. Much can be done with acrylic awards for these positions.
Success
The goal of all business owners and managers regardless of their level should be to maintain corporate morale and to retain employees that are happy and productive. Using tangible awards shows them that you care; you are aware of them individually and you recognize that your company’s success is dependent upon their efforts. Corporate awards are an excellent, cost efficient way of creating and maintaining the morale and environment necessary for continued success!
