Corporate awards for corporations
Are Corporate awards like trophies, plaques, certificates and medals still relevant in corporations today?
Employee recognition represents a long standing cornerstone of effective management in the corporate world. As competition for talent escalates, it has become even more important as how corporations value their employees. As an organization grows, leaders must rethink the way they add value to the employee recognition experience.
What is employee recognition?
Companies recognize employees for going above and beyond, for their achievements, tenure or service, or desired behaviors. Employee recognition helps them know that the organizations recognize and appreciate their contributions. They want to know how they are doing, and recognizing their contributions demonstrates what success looks like.
Why employee recognition matters
We crave recognition from parents, teachers, and friends from an early age. We desire strongly for positive affirmation, particularly during developmental periods. As such, we even perceive a neutral reaction as a negative one.
This continues to hold true as we enter the corporate world. Employee recognition helps to:
Retain top talent
Increase employee engagement
Encourage high performance
Types of awards
There are many ways of showing your appreciation. Physical awards such as a trophy or a plaque remain a good choice to show how appreciative you are as a boss. In fact, employees welcome any types of recognition as it means a lot to them. Employees feel more valued and appreciated for the contribution they have made for the company.
However, before giving away physical awards, you should pay attention to the following considerations.