Effectively managing your employees can be extremely difficult. After all, many employees respond differently to different management styles. However, one thing that’s been shown to improve relationships between employers and employees is to recognize their work. One of the easiest and most exciting ways to do this is by having yearly awards for your business.
This isn’t so far-fetched, and many companies hold award ceremonies for high-performing employees. Some even use crystal awards as part of the recognition. One of the best things about giving awards to high-performing employees is that it isn’t just great for your employees, but it can have a significant effect on your overall business. This is because recognizing the value of your employees can bring about a variety of benefits for you and your business.
Job Satisfaction
Recognizing an employee’s work shows them that the job they do is important to the overall company. This will make them feel more important as a result. This rewarding quality will end up making the employee feel as though they’re making a difference in the business, no matter how significant that difference may be. In turn, this will lead to more job satisfaction for your employees. This increased job satisfaction leads us nicely into our next point.
Increased Productivity
Staff that is appreciated and recognized end up being a lot more productive; this is partly due to their job satisfaction, but some may be driven by wanting to receive a reward for their work. These are certainly in the minority, but it still ends up having a net increase in employee productivity. It makes sense that if recognition is given to high-performers, then many will go the extra mile to get that recognition.
Increased Retention
No business likes to have a high staff turnover as it can increase your operating costs and dampen staff morale. However, rewarding high-performing employees and any other employees who deserve to be recognized will minimize staff turnover. The happier and more recognized that your staff feels, then the more likely they are to stay with the company. While giving an award is just one part of keeping your staff satisfied, it definitely goes a long way to increase employee retention. Because of that, you’ll spend significantly less time looking for new employees and more time improving and expanding your business.
Better Team Culture
While it may sound counter-intuitive, rewarding employees can go a long way to creating a better team culture in your business. This can be done by encouraging staff to recommend which of their peers deserve an award. This ensures that your staff looks for the positive qualities in their peers. Getting employees to nominate who they think should be given an award can also be an empowering move. This is because being given an award carries a lot more weight than a seemingly arbitrary award. Knowing that your peers were the ones who nominated you for the award can make a lot more of a difference to staff.
Better Marketing
Businesses and their customers have never been more connected than they are in this digital age. With the rise of social media and other digital outlets, anything negative about a business can spread like wildfire. This includes any negative employee experiences that may occur. However, by rewarding your employees regularly, you’ll be able to spread more goodwill about your company within your workforce.
This, in turn, will make for better marketing for your businesses. After all, employees who are happier ensure a better representation of your business. If your employees are happy, they’ll leave a better impression on customers or any other third party, and this could lead to more leads and conversions down the line. The vast majority of employees deserve more recognition than they usually get.
With the benefits of rewarding your employees with the likes of awards, there should be nothing stopping you from giving them the recognition that they rightfully deserve. After all, recognizing just how important their jobs are to the company not only makes a significant difference to your employees but can end up helping to drive the success and expansion of your business. So what’s stopping you from rewarding your best employees and making sure that they’re well recognized? It’ll make a world of difference.
Kidal Delonix is a contributor to Mr. Hoffman's blog. The views and opinions are entirely his/her own and may not reflect Mr Hoffman's views.
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