As competition across the globe becomes ever more cut throat companies have recommitted themselves to nurturing what is arguably their most valuable asset – their employees.
Now that technology has allowed even smaller companies to play on the same marketing playing field as larger organizations it is increasingly apparent that the competitiveness of a company will be dictated by the strength of their human resources. After sales service and client relations are increasingly the differentiating factor between those companies that succeed and those that will fall by the wayside.
However, as companies realize this they also have begun to realize that rewards for those employees who boast exceptional performance are absolutely pivotal if the company wishes to retain their services. This is especially important given the fact that the job markets across the world are now starting to recover and many organizations are ramping up their efforts to actively lure skilled employees away from their current employers.
One of the ways that a company can ensure that employee retention efforts are effective is to make informed use of physical awards and trophies. However, the key here is to make these awards meaningful. Not only must they serve as a physical manifestation of the value that the company places in those employees, but they must also make a tangible difference to the lives of the recipients – both within the working environment and in their personal lives.
The company not not only benefits through increased employee retention. It also benefits through increased productivity which is in turn based on increased employee moral and the buy in to the ethos of the company and its commitment to the employees.
But even while noting benefits such as increased productivity it is also important to take note of the intangibles. One of these is happiness. recognition of effort has been shown to increase both job satisfaction and happiness – and research has demonstrated again and again that a happy employee contributes on a number of levels, not only to the bottom line – they also make those in their team happy as well, the knock on effects should not be underestimated.
There are several ways that a company can use trophies and awards to encourage employee loyalty and buy into the brand ethos of the company. However, the golden rule musts till remain that the rewards must be tangible.
Whether it is a trophy based on performance or a certificate the awards should be highly visible. have an awards ceremony and gather staff together. Have it catered. Show that the company values each and every employee, not just those have have gone that extra mile in a particular month. The purpose of the award is to motivate an entire staff contingent – not just the recipient.
And perhaps just as importantly link the award or trophy with something that makes the recipient happy. A gift certificate, a paid weekend away, a day at the spa, a meal at an upmarket restaurant. Make sure that the award touches not only their professional life but their personal life as well – and ideally the loves of their families.