Employee recognition can go a long way in boosting the overall productivity of the company as well as help to create a positive work environment at the workplace. Handing out excellence awards act as a “thank you” gesture for the top-performing employee, while motivating other staff members to meet the goal and perform better as well.
A simple award can be very effective in improving loyalty and commitment from the employee’s part, and it does not have to be cash prizes or bonuses either. In fact, you should give the top-performing employee something tangible, which they can display on the desk and relate to for years to come. An artistic trophy or plaque featuring stunning graphics and finish can work as a cherished memento that would remind the employee of his/her accomplishment. At the same time, looking at it would motivate other employees to set their performance goals straight and try to earn the award the next year.
You can also add a personal touch to the trophy or plaque by engraving the employee’s name on it as well as a personal message appreciating his/her contribution towards the growth of the company. To add to the celebration, plan a special ceremony to present the award to your best-performing employee. It can be anything like a team lunch or an annual corporate party. You only need to choose the best trophy or plaque to acknowledge his/her accomplishment and leave a lasting impression on all your staff members. You can also give some corporate gifts to the next best employee(s) in order to inspire them to carry on working at their highest level.
Why Employee Recognition Matters So Much
When an employee receives an award for his/her work at the office, it carries on to making his/her personal life happier and more peaceful as well. When you appreciate an employee verbally in the office, only those in the attendance would know of the special recognition he/she got. However, when you add a custom engraved trophy or plaque with it, the employee can show it off to his/her friends and family too.
Awards give the employee a sense of belonging, and he/she would be delighted to see how you have taken the time and effort to demonstrate your appreciation for his/her performance. This, in turn, would have a great impact on his/her personal and social life, which would improve his/her productivity and performance at work. In fact, studies say that happy employees are around 12% more productive when compared to those who are not contented at the office.
Employee recognition translates into building trust as well. Trust and loyalty at the workplace are key to the overall growth of the business. By expressing your approval of your employee’s hard work through a simple award, you can build a solid foundation to cultivate more trustworthiness in your company. When your employees notice that you are attentive about their efforts and contributions towards the common good of the company, they would feel a deeper connection with the management.
Recent researches have also found that around 90% of employees who received recognition from their employers have more trust in their company and would do their best to make sure that the business thrives to its full potential. On the contrary, among those who receive no appreciation from their employers, only around 40% would have trust in their organization.
It is also seen that when employers appreciate their staff members for their work, be it with a yearly award to the top-performing employee or corporate gifts to all those who excelled at their jobs, it leads to better employee management. Employee retention is as crucial as customer retention because both make the core part of a business; just as losing a customer affects the overall revenue of the company, losing an important employee can take a toll on the company’s overall growth too.
According to the reports of the US Bureau of Labor and Statistics, most employees decide to switch to a different job because they feel a lack of freedom or a lack of respect in their current company. Yet again, when you regularly acknowledge the work of your employee(s), they get the confidence booster to continue giving their best at their present job.
Even though there are many more benefits of employee recognition, apart from the ones mentioned here, many companies do not follow the practice of appreciating the hard work of their employees. Some managers pay no heed to employee appreciation because they are either too busy themselves or totally unaware of how it can work to make the workplace environment better. However, no matter what is hindering you from celebrating the role of your employees towards the growth of the company, you should make some effort to take the time and appreciate your staff members for their performance. As said, just a small memento can work wonders to make your employees feel happy and satisfied.