The Importance of Employee Awards
If you want to keep the spirit of you employees high you and your management should learn how to appreciate and recognize them by giving them employees awards. In the current situations, many employees are ready to leave their current jobs for better opportunities. If you want to retain the royal and the most hardworking employees in your company you should learn how to award them. A company should set aside some resources from their budget that will be used for employee awards. If you don’t have an employee award program in your organization, know that you are missing out on a great and a healthy way to improve productivity, increase morale, foster loyalty, and increase worker pride in your workplace. The increased worker pride in your workplace leads to high profits and greater customer satisfaction. Below there are seven reasons why giving employees award is very important.
Employees respond positively to the employees’ awards as compared to the financial awards and salary increment. Employees will have to deal with the increased tax rates that can be dragged to the bottom line once you award them by increasing their salaries. Also giving an employee award to your employees is cheaper than raising their salaries. You can get a healthy competition among your employees by giving the employees award and the healthy competition will increase productivity. The high productivity will be as a result of the hard work given by the employees who want to achieve the employee award. High profits in the organizations are resulted by the increased productivity which is given by the employees hard work in order to achieve the employee award. Employees feel appreciated when they are given the employee award and this reduces the low turnover. Some of the benefits that you will gain by giving the employees award is loyalty, reduced cost in training and hiring new employees, and high employee retention.
As a result of the employees award your employees become happy and this results in better customer satisfaction. In a positive social settings your employees are able to socialize in honour of the employees award ceremony. The employees award ceremony should be arranged either annually or semi-annually.
An employees award can lead to good attitude in the organization which is contagious. The employees award generates happiness and energetic environment in the organization and this will affect the other employees positively. The employees award can easily change bad behaviors in the organization. The outstanding employee recognition process motivates all the other employees and they will move forward as a team. Monetary award is expensive an organization should consider giving the employees awards in different way that is cheaper compared to the monetary award.
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