Corporate Identity Programs & How They Help Your Company Grow
What does rewarding employees mean?
Whether it’s for reaching specific goals, implementing new ideas, or going the extra mile, rewarding employees is about honoring what people achieve in the workplace. The essence of rewarding employees is reinforcing specific behaviors and motivating people to perform better.
Why is it important to reward employees?
A smart employee recognition system is a win-win for both the organization and its associates. Indeed, while high performance brings bonuses to your staff, it also supports the organizational goals and values your business promotes. Here are the central perks of creating an employee recognition program:
- Satisfaction. Greater enjoyment of work is what employees experience when they are involved in an internal awards system.
- Feedback. To achieve more, you have to know the directions. Internal award programs involve frequent performance evaluations. By collecting direct feedbacks, employees get great guidance.
- Low turnover. Employees who perform high-quality work and know your organization from A to Z are a special value for your business. In this context, keeping turnover low is vital.
- Teamwork perks. The more people who stay with your organization long-term, the healthier the atmosphere inside you team is. Enhanced teamwork generates more effective collaboration which is key to building a powerful business strategy.
- Time- and cost-efficiency. Since intrinsic rewards for employees benefit retention, business owners save much time and the cost they would have otherwise spent training new hires.
How can you reward your employees?
Organizing an internal reward system requires two things: the knowledge of the goals your employees have and the ability to generate value for your staff through appropriate awards.
- Let employees know what value they bring. A crisis of employee motivation is often caused by low understanding of value that a team generates for an organization. Set up regular one-on-one meetings with employees to inform them about their contributions to the bottom line.
- Communicate the vision. Share the vision that you have for the future of your organization at team presentations, creative events, and meetings.
- Set up performance reviews. To keep an eye open for how employees are doing in your organization, have regular performance review meetings.
- Personalize nominations. Awarding isn’t a one-size-fits-all. Nominate employees based on the number of years of service, their occupations, professional interests, and personality types to keep satisfaction high.
Types of awards for employees
There are some milestones that your employees most likely surpass every day. To reward their efforts, you can offer on-the-spot rewards like a creative badge for every achievement, a bar of chocolate, and more. We have the tools at LogoWest for you to be able to customize your on the spot award.
Inhouse awards events
For those companies that want to attract public attention to employee rewards and generate buzz, organizing in-house awards events is vital. Plan an awards ceremony based on a specific theme and enhance company/team recognition in this target field. Our team at LogoWest, have an asortment of different types of awards you can choose from to personalize for your event.
Social media awards campaigns
With the growth of social media hype, it’s possible there’s an employee recognition idea for every cause. Launch creative social media awards if you want to build quick win-and-go experiences. Take a look at our selection of different awards you can use for social media campaigns.