If you have started to wonder if you should jump on the bandwagon to have some of your top performers in the company rewarded, you may want to learn more about the benefits of this. This way, you can see just why it is such a good thing to do and you can start to think of ways to implement your new reward system right away.
How It Helps The Winners
Those who win the race to the top in terms of sales or whatever else you track throughout the month will greatly benefit from receiving recognition. Using custom awards, whether it be trophies or plaques will be a nice thing that the employees can collect and display on their desks or in their homes for a long time to come.
Those who end up with the awards can make note of that whenever they apply for promotions within the company, as it shows that they have demonstrated outstanding levels of performance. They will also know that you see their efforts and that you appreciate all that they do. This will help the company as a whole because those employees will be more likely to continue to push harder and excel past the minimum requirements for their position.
How It Helps Those Who Do Not Win
Not everyone is going to win an award but you can make a large number of categories for recognition so as many people can be rewarded as possible. When they do not win right away, they might strive a lot harder in order to have a better chance at winning next time. If you have your recognition ceremonies once a month, or at least every quarter, you are giving your employees plenty of chances to try to improve themselves.
When They Are Not Recognized
When you have employees that are striving to do their best for the company, but yet are not recognized for all that they do, you might find that their efforts will start to diminish. They may decide to simply start doing more busy work or anything just to get by without standing out from the crowd instead of putting forth the maximum amount of effort that they could be putting forth.
This is not only bad for their careers but bad for your company’s bottom line. Without the proper recognition, you may find that you are not truly getting your monies worth when it comes to employee effort. You might also notice that some of you better employees will start looking for a change and end up with a different company, one that has taken great strides to reward their excellent workers. You may then find that you are stuck with the employees who may not care that much about their performance or the company they work for, and that is not good at all.
Make This Your Job To Handle
Recognition is not one of those tasks that you want to pass off on to one of your supervisors. The higher up the chain the employees receive the recognition from, the more it will mean to them. Therefore, you’ll want to make sure that you are in direct control of the selection and the ordering of the awards. You will also want to organize the awards ceremony, making announcements, and personally handing out the awards. That little bit of effort on your part will go a long way and it will in turn really help your company grow in strength. Also, make sure that you are giving them awards based directly on the specific accomplishments that they’ve made, so they know that you truly know their worth within the company.
As you can see, there is a lot to consider when it comes to recognizing employees within your company. It is a good idea to implement this as soon as possible so everyone can start benefiting from it.