Providing staff with merchandise can be a daily reminder of their value to the firm.
Building an effective employee incentive program can be a challenge for many companies. There are a number of barriers that can keep the initiative from succeeding, including choosing the wrong type of rewards.
A good incentive program will take company culture into account, and it can be difficult to provide a reward that appeals to everyone. This is especially true in businesses with a diverse workforce. To solve this problem, some organizations will have a few options for the winner to select from, or provide cash.
Money can be a strong motivator, but it provides no lasting benefits for the company. When an employee receives a cash bonus, he or she will often put it into savings and gradually use it for routine bills and expenses. However, providing staff with merchandise can be a daily reminder of their value to the firm.
Each time a worker uses or wears the reward item, it is a sign of the recognition that was received. Offering these mementos allow the company to repeatedly show their appreciation without any additional costs. The award can be something large to be used at home, such as a television, or it could be something simple that is used every day, like a personalized iPad. The value is created by the repeated use and practicality of the item.
Rewards that are used around the office can also boost the morale of an entire department. The trophy reminds each worker that their efforts will be appreciated and is a gesture of the continual support provided by the organization. Department prizes can also enable valued team building as the group is reminded of the results their joint efforts have created.
Using trophy awards can help companies build an effective employee incentive program that creates value for both the organization and its employees.