Why Does Company Need to Award Employee with Appreciation Trophies?
Employee appreciation trophies are symbols of appreciation to employees for their service, commitment, and dedication in helping organizations achieve excellence and maintain performance standards. Employee recognition awards are acknowledgements designed (formal or informal) of a person’s or team’s behavior resulting in the remarkable and exceptional business result. It is a fundamental human need. Recognition makes one feel a sense of achievement for valiant effort or works well done. They say, ‘a pat on the back is always good.’
The act of appreciation itself reinforces particular practices, behaviors, or activities that result in an excellent performance. Study shows that 50% of employees would stay if they were tangibly appreciated and recognized. Another research shows that 40% of workers who do not feel meaningfully appreciated will not go above their formal responsibilities to get the work done. The diagram below shows Cicero Research done in 2015 concerning employee performance.
Read the full whitepaper ‘Employee Performance: What Causes Great Work’ from Cicero Group.
4 Reasons Why Employee Appreciation is Important
Employee Appreciation Increases Individual Productivity
Based on the classic behavioral psychology, when you recognize the desired behavior, you increase the repetition of the desired action, hence productivity. Therefore, if employees are appreciated and rewarded every time they do work well, then the desired behavior is reinforced (consistently).
Employee Appreciation Increases Customer Satisfaction
According to CBS News, happier employees are more productive. Happy employees benefit an organizations relationship with its clientele; this fuels the bottom line of the organization. Watch the short video from CBS News here:
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Employee Appreciation Improves an Organization’s Workforce
Older, satisfied staffs, when happy with their jobs, are more willing to share their expertise and knowledge with younger employees. Mentoring helps the up- and — coming employees. Organizations with higher levels of employee satisfaction can recruit a higher level of talent. You can read this 2016 research paper on ‘Employee Job Satisfaction and Engagement’ from Society for Human Resource Management (SHRM) if you doubt about that.
Employee Appreciation Improves Morale
Staff morale is a crucial component of any operation. High morale inspires greater creativity, productivity, and overall satisfaction.
Types of Employee Appreciation
There are many ways employees can be appreciated and recognized. However, there are two main divisions; top-down and peer- to- peer.
Top-Down Recognition
Here, the supervisor recognizes and witnesses the employees contributions. Examples are:
- Employee Appreciation Trophies — It is in recognition of employee’ continued input and support to an organization over several years. It is given at specific milestones or intervals. Standard awards include engraved pens, plaques or group greeting cards.
- Employee Appreciation Day — Most organizations today hold employee appreciation day and pay homage to their employees, in the form of small office parties or organization’s funded events like barbecues.
- Annual Bonuses — In addition to employees’ basic pay, they receive yearly bonuses as financial compensation based on the performance of the individual, organization, or both.
- Quarterly Bonuses — These are similar to annual bonuses, but are on a more frequent basis mostly per business quarter.
- Spot Bonuses — Employees ‘on the spot’ are thanked for contributions meriting particular notice.
- Micro Bonuses — these are small monetary rewards often given by managers to their direct reports or by a colleague to another or from a direct report to a manager.
Peer-to-Peer Recognition
Managers, co-workers recognize the contributions and achievements of their colleagues. Some forms are:
- Gold Stars — These are small mementos; sometimes, they have a tangible value.
- Verbal Praise — It is the oldest long-standing form of peer- to- peer recognition in workplaces, given in an ad- hoc fashion.
