Why trophies and awards can be more effective than pay rises and bonuses
The below infographic has some great information on how to motivate employees to give thier best. It highlights several key points
– Disengaged employees cost you money in terms of retraining staff, lost customers through poor service, and lowered productivity.
– Engaged employees are a great asset to your company through productivity, creative input and return on investment.
– Money is not the key driver of motivation and engagement. Positive affirmation and gifts are two key drivers which can be achieved through giving regular trophies and plaques in an employee recognition programme.
We propose that having a recognition programme and giving out regular awards, trophies and plaques can produce all the benefits of a highly engaged workforce. While the reasons for this are easy to extract from the below infographic there are other positive side effects of running a recognition programme; a culture of excellence and performance can be created in your company. Since giving awards and trophies is a reward for achieving some task or measure you can inspire not only the winner but others to strive for the same reward. This creates a “ratchet effect”, the bar is raised as employees look to better themselves from the last performance. As others are also competing for this recognition the performance of the whole workforce is improved.
When implementing these programmes it is important to keep employee justice high. That is the reward must be seen as possible and those recieving it must be seen by others as deserving. Thus it is important to have trophies or plaques for a range of achievements so employees do not become bitter about not recieving awards or resenting those who have won one.
The gift, trophy, award or plaque must also be seen as being fitting to the achievement. Giving out cheap plastic sports figurines is fine for school sports teams but corporate awards need to have a little more polish.
For more information about running an employee recognition programme as well as suitable trophy or plaque designs please contact us at [email protected]