Awards and Recognition Programs: They Pay For Themselves and Then Some!

The Benefits of Custom Designed Awards Include:

1. They have a special meaning to the people involved in a certain program.

2. Custom awards are immediately identifiable by peers, reinforcing their value as builders of self-esteem and motivation.

3. Since they can't be purchased outside of the organization, they must be earned by achieving something.

4.  Custom awards have the ability to be highly  personalized with the recipient's name, as well as the name of the program and details of the accomplishment.


















Some content provided courtesy of Eighth Floor. 

Why People Need Recognition

• Recognition boosts esteem and performance.  All people have self-esteem and self-actualization needs, and must feel important, satisfied, and inspired to perform to their fullest potential.
• Recognition shows that a person's hard work isn't going unnoticed.  It satisfies the person's need to be noticed, and motivates them to improve their performance even further.
• In addition to rewarding the person performing well, recognition also sends a message to co-workers as to the type of performance that gets rewarded.  It motivates employees to strive for excellence so that they, too, can be rewarded.

Why Awards are Better than Money

Studies have shown, time and time again, that employees have always ranked praise and being shown appreciation as being more important than money.  Managers and employers tend to think employees care primarily about pay.  But the truth is, workers say it's more important for their bosses to show appreciation for a job well done.

• According to the results of a national survey by Robert Half International, "limited praise and recognition" was ranked as the top reason employees leave their jobs- ahead of compensation issues.
• In a recent study, Wichita State University evaluated 65 potential incentives and found that recognition from managers was reported to be the most powerful motivator of all the incentives.
• Cash awards can in fact have a demotivating effect.  Compensation is a "right," but recognition is a "gift."  People will do their jobs to collect a paycheck, but a paycheck alone will not motivate them to go that extra mile.  Individual recognition is the key.  From the point of view of the employee, the greatest reward is being acknowledged for their contribution. 
• Non-monetary awards have sentimental value.  The recipient will save the award and show it to their co-workers, friends, and family members.  They are everlasting symbols of success, and are never spent or forgotten.

In conclusion, when cash is always the reward, employees begin to think of the reward as their "deserved" normal compensation.  They become accustomed to receiving the extra income, and the pride associated with recognition for a certain accomplishment is lost.

Applications for Recognition:

The Top 3 Uses for Recognition

1.  Sales Incentives: This is the most frequently used application for award programs.  The focus here is on improving performance and self esteem.
2.  Service Award Programs:  By positively reinforcing behaviors, a company can improve quality and productivity, or achieve other organizational goals.
3.  Safety Programs:  By rewarding employees for practicing safe work habits, the employer will cut back on accidents and effectively reduce the cost associated with on-the-job injuries.

There are many additional applications for recognition programs.  These include: 

Recognition:

Distinguished service awards, retirement recognition, training completion certificates, distributor and dealership recognition, supplier recognition, awards of appreciation, production and quality recognition, promotion recognition, performance awards, management recognition, years of service recognition, quota buster awards, and more!

Identification:

Commemorative plaques, company ID plaques, association / club ID plaques, membership plaques, past president recognition, sponsor recognition plaques, memorial plaques, building commemoration, mission or quality statements, contribution recognition, Chamber of Commerce plaques, monthly winner programs... the applications are endless.

Other Achievement / Recognition:

Fraternal recognition, alumni ID plaques, college / university Isigna plaques, athletic achievement awards, graduation certificates, speaker gifts, etc.

10 Steps to a Successful Recognition Program

1. Program Objective:  Should be consistent with the company's values, principles, and objectives for improving productivity and performance.
2. Program Theme:  The possibilities are endless, and so are the types of awards and promotional items that can be utilized.
3. Award Period:  Whatever the time period, keep the program visible with regular updates and benchmarks.  You may even want to include mid-period awards.
4. Recognition Categories:  Clear, definitive boundaries must be set with criteria above and beyond what is normally expected from employees.
5. Eligible Participants:  All employees related to the specific department, goal, etc. must be eligible.
6. Program Qualifications:  A recognition program must provide equal treatment for equal accomplishments
7. Presentation:  Recognition and rewards must be given shortly following the achievement.  Public commendation is generally better than private.
8. Budget:  Keep in mind that when performance goals are met, the increased sales and profit or cost savings to the company will far exceed the cost of a recognition program.
9. Awards:  Recognition is not compensation.  As stated earlier, studies have proven time and time again that recognition is more important to employees than money.
10. Cost Analysis:  When structured properly, recognition programs easily pay for themselves due to increased profits, cost savings, and a high morale that all result from meeting program goals.   

 

For more information about Denver's best selection of awards, plaques, and trophies, call Crider & Company of Denver, Colorado.  We can help you implement an effective reward and recognition program.  Or, feel free to use our promotional product search engine to look for awards, plaques and promotional items that you can use for your program.