Why A Business Must Have Employee Awards
Your business is probably missing out a great opportunity of increasing productivity, fostering loyalty, improving worker’s pride and boosting morale in the workplace if you don’t have employee recognition programs. Say that these things are achieved, it can then translate to customer satisfaction as well as higher profits.
As you read the next lines, you will soon discover the benefits that your company can get by applying implementing recognition awards to your employees and to how it can be very useful.
Reason number 1. Compared to increasing their pay and other financial rewards, employees actually respond more on receiving recognition. An inexpensive employee award, medal or trophy can provide more bang for the money since any salaries or wages increase has hidden costs similar to higher tax that may be drag on bottom line. What’s more, employee awards are a lot cheaper when compared to benefits or increasing the employee’s salary.
Reason number 2. Due to the reason that your employees are going to work harder to become a top performer and earn recognition for his/her efforts, there’s a tendency that it would create healthy competition between them, which would then improve the overall productivity of your company. As your employees are competing for the recognition awards, it is sure to boost productivity which means bigger profits for your business.
Reason number 3. Implementing employee appreciation ideas can actually make your employees to become more loyal meaning, there’s going to be higher employee retention, lower turnover and also, less expense and time in hiring and training new staff.
Reason number 4. Employees recognized by their employer are happier and at the same time, more pleasant in the workplace.
Reason number 5. With employee award ceremony, it can just be the chance for companies … Read More ...