Have you heard of employee appreciation awards? The majority of people out there desire to be appreciated in many facets of their lives, and employment is no exception. Employees who pour themselves into their work need to feel that their efforts are valued and employee appreciation awards are a fantastic way to express your gratitude in a tangible way.
Unfortunately, many organizations are still learning about the importance of employee appreciation or feel they can’t afford to implement a program. Employers who fail to address this issue risk losing personnel since many employees who do not feel valued at work are more inclined to leave. Employees will know that their work counts every day if they have a well-designed and implemented employee awards program and a culture of appreciation.
Employee appreciation awards have substantial benefits, and that’s not a baseless claim. According to a recent study, over 82% of employees prefer praise over gifts. By offering employee appreciation awards, employees can receive that sorely needed praise and enjoy gifts as well– be they physical gifts or simply special recognition for their hard work. Just as well, a similar study found that almost half of employees would prefer to leave a company that would not praise them or show their appreciation for their work. It’s clear that employees need to feel appreciated in order to be loyal to a brand– and employee appreciation awards can help.
Implementing employee appreciation awards doesn’t have to be difficult, either. All an organization needs to have is a good incentive plan that reflects their company culture and a reward delivery application that motivates employees.
In this article, we’ll break down what employee appreciation awards are and how they can help build a collaborative and supportive company culture.
What Are Employee Appreciation Awards?
Employee recognition awards are gifts, trophies, or plaques presented to employees who have met a goal, performed admirably, achieved a milestone or demonstrated conduct worthy of praise. They’re frequently distributed at workplace events, conferences, and holiday parties, among other places. Depending on the award program, employee appreciation awards might be given out on a daily, weekly, monthly, or yearly basis.
The primary notion of the employee appreciation awards extends beyond a simple gift and is more important than a gift card or trinket. It’s all about making your staff feel appreciated and valued, and the correct gratitude award wording can help you achieve that. Appreciation rewards for employees must be meaningful, effective, and inspiring.
You may use different kinds of employee appreciation rewards for your program. The following are a few examples:
- Employee Achievement Awards
- Employee Leadership Awards
- Most Sales Awards
- Sales Achievement Awards
- Behavior Awards
- Performance Awards
- Employee Accomplishment Awards
- Attendance Awards
- Safety Awards
- Employee Retirement Awards
- End of the Year Awards
- Holiday Awards
- Diligence Awards
- Innovation Awards
- Mentorship Awards
- Teamwork Awards
- Employee of the Month/Year Awards
- Work Anniversary Awards
- Years of Service Awards
- Department Most Valuable Employee Awards
- Most Creative Awards
Your organization can even go beyond these awards when developing your employee appreciation award program.
How Do Employee Appreciation Awards Benefit Company Culture?
Employee appreciation awards can do a lot for morale, motivation, and productivity. Such awards, as well as employee recognition in general, can do a lot for employee loyalty as well. This is particularly true for millennial employees.
According to one survey, 79 percent of millennials believe that receiving greater recognition will boost their loyalty to their workplace. Millennials want to know that their efforts are valued, and they want to be recognized for them right away. Most millennials, on the other hand, are dissatisfied with their employers’ incentives and recognition programs. This implies that with millennials, the traditional or one-size-fits-all approach to employee appreciation is ineffective.
Employee awards and general recognition can impact morale, loyalty, motivation, and overall productivity. These things are all the core of company culture.
Employee awards help retain employees and improve company culture by highlighting elements such as brand recognition, employee loyalty, and workplace happiness. Award data may help you better understand employee opinions and make better decisions about reward programs. If employee satisfaction is lower than you’d like, the feedback might be used to suggest strategies to enhance the corporate culture.
Consider creating performance-based rewards, employee recognition, and advocacy initiatives across your company. These activities will improve staff morale, promote employee loyalty, and increase retention in your company.
If your organization doesn’t have any culture-based awards, it’s a good sign that your employees need additional opportunities to interact with your brand and be recognized. Employee feedback on burnout, relationships with coworkers, and workplace benefits can be easily collected through award questionnaires. This data will assist you in identifying areas that require development.
Consider developing an employee advocacy campaign throughout your organization if your culture score is poor. Allow workers to receive points for social sharing, surveys, or business participation to keep them engaged. Individuals with the most points each month should be rewarded. Gift cards, corporate attire, or a paid time off day are all possibilities. These incentives will improve employee retention since they will feel more engaged and valued.
Different Types of Employee Recognition
Employee awards may be used in various ways to recognize and thank employees. Let’s look at three distinct sorts of acknowledgment that each serves a different purpose.
Micro-recognition is the initial sort of employee recognition. Micro-recognition, also known as day-to-day recognition, is a type of recognition that occurs often and continuously as part of the organizational culture.
A comprehensive employee appreciation awards program should incorporate this form of acknowledgment. It may involve mailing letters, delivering cards, displaying on bulletin boards, or whatever else you can do to swiftly and simply acknowledge staff. Micro-recognition is a great approach to reinforce corporate principles on a regular basis while also making employees feel valued without taking up a lot of time and effort.
Another sort of employee appreciation that should be implemented on a cultural level throughout your business is informal recognition. Individuals or teams are awarded informal acknowledgment for reaching milestones, achieving objectives, or completing projects. This may take the shape of a pizza party, a potluck, or a happy hour excursion to a sports bar. Essentially, it’s a low-cost keepsake given out on the spur of the moment. However, informal recognition doesn’t need to occur on a daily basis as it lacks the framework of official recognition programs.
Finally, formal acknowledgment is one of the types of employee recognition that employee awards will emphasize. Formal acclaim is more regimented. A nomination and selection procedure, as well as a ceremony or special event, are frequently included. Formal recognition programs are less common, and they usually need a higher budget and more preparation.
Keep in mind that your employee awards must be relevant to your staff.
The Benefits of Employee Appreciation Awards
Compensation may bring monetary happiness, but it does not satisfy your employees’ deep yearning to be appreciated. Implementing an awards system that recognizes each employee’s unique accomplishments shows them that you’re paying attention and appreciating their efforts.
Money is essential, but it isn’t everything. What counts most in the workplace is making people feel valued. Thoughtful awards may mean as much as or even more than other sorts of rewards in terms of creating memories that tie your employees to your organization.
Implementing employee appreciation rewards has even more advantages. For one reason, rewards can increase employee motivation because employee engagement is intrinsically tied to performance, objectives, recognition, growth, and management effectiveness. Employee recognition, which may be offered through employee rewards, is one of the top drivers of employee engagement.
Other advantages of an employee rewards program include increased productivity, lower employee turnover, more employee satisfaction, and more fun at work. A program like this may help improve team culture, promote improved customer loyalty and satisfaction scores, boost quality staff retention, and reduce employee stress and absenteeism.
H2: Best Practices for Launching an Employee Appreciation Award Program
You’ll be well on your way to rewarding employees with meaningful rewards if you follow these easy rules for appreciation awards:
- Recognize your employees frequently. Don’t wait for yearly anniversaries or milestones to thank your staff for their hard work. To make acknowledgment a part of your everyday culture, communicate it in real-time and regularly.
- Provide public acknowledgment in the form of rewards. Even when no one is looking, your employees put in long hours. A public award guarantees that individuals who consistently sacrifice behind the scenes are recognized and praised by everybody.
- Recognize behaviors that are consistent with your company’s beliefs. Your rewards program should align with your company’s values, brand, and desired employee experience. This is the most effective strategy to change your company’s culture and encourage essential behaviors that match your company’s values.
- If your business allows it, incorporate incentive points into the awarding procedure. Using an employee recognition platform that offers points-based recognition, management and peers can award team members with points that they may redeem for a gift of their choice. Instead of receiving the same generic business mug or cap as everyone else, team members will enjoy the ability to pick incentives that they genuinely like and desire.
- Have some fun with the names and sorts of awards. The naming of your award is the first step in making it distinctive and memorable.
By following these guidelines, you can guarantee that your rewards program is both successful and meaningful to your staff.
Ideas for Employee Awards
Keep in mind that your employee appreciation rewards should be personalized for your employees. Generic rewards are not ideal. However, we can offer a bit of inspiration.
Consider giving yourself a “master award.” The recognition master award is given to the team member who acknowledges others the most. The core of your awards program is leadership and other team members that actively acknowledge others. Consider them office influencers. It’s their regular acknowledgment that keeps other staff engaged and motivated.
Consider establishing a peer-to-peer recognition award that allows anyone to recognize a coworker. Which individual is consistently praised by their coworkers and superiors? Every month and quarter, acknowledge the workers who have received the greatest recognition. Consider presenting a most recognizable employee award to each team, department, and firm as a whole. This award encourages participation in your employee reward program and shows your appreciation for their dedication to the process. You may also give employees extra points in addition to this award to make it more memorable.
Awards can be used to encourage feedback. Managers and executives want employee input to create solutions that meet the demands of the team. Workers who offer regular feedback are rewarded, encouraging other employees to contribute and creating a culture where everyone feels comfortable giving feedback.
Deliver Employee Appreciation Awards Through Xceleration’s User-Friendly Program
Clearly, employee appreciation awards are essential in improving company culture. However, it can be challenging to implement an award system that each employee is aware of and has access to. This is where Xceleration comes in.
Xceleration’s unique RewardStation platform is designed for businesses of all sizes to use. This platform, complete with a wide range of features, provides awards and goal access to teams, individual employees, and everyone in-between. Rather than developing your organization’s application for award incentives, why not opt for a ready-made, fully customizable platform that you can tailor to fit your organization?
Get in touch with the Xceleration team today to learn more about RewardStation’s features, how to implement the platform in your organization, and how to pick the right pricing plan for your needs.