|Added Jan 9, 2017 Views 156 Rating|
The Importance of Employee Awards
If you want to keep the spirit of you employees high you and your management should learn how to appreciate and recognize them by giving them employees awards. There are many employees out there who are willing to leave the jobs they currently have and look for better opportunities. By awarding the employees you will be able to retain the royal ones as well as the most hardworking employees. As an organization you should allocate some amount of money from your budget that will be used for employees awards. An organization that do not have an employee award should know that they are missing out on a great and healthy way to improve productivity, foster loyalty, increased morale and worker pride in their organization. The increased worker pride in your workplace leads to high profits and greater customer satisfaction. Some of the important reasons why giving an employee awards are indicated below.
Your employees will respond positively to the employees’ awards compared to the financial and increased salaries award. Once you award your employees by increasing their salary they will have to bear with the increased tax rates that can be dragged to the bottom line. You should consider the employees awards since they are cheaper than increasing their salaries. One way of increasing a healthy competition in your organization is by giving the employee award and you will be increasing the productivity. Due to the hard work given by the employees in search of the employee award high productivity results are attained. High profits in the organizations are resulted by the increased productivity which is given by the employees hard work in order to achieve the employee award. Employees feel appreciated when they are given the employee award and this reduces the low turnover. By giving the employees award you will get a royalty, high employee retention, and a reduced cost of training and hiring new employees in return.
As a result of the employees award your employees become happy and this results in better customer satisfaction. The employees award ceremony gives your employees a chance to socialize in a positive social setting. The employees award ceremony should be arranged either annually or semi-annually.
An employees award can lead to good attitude in the organization which is contagious. Once you reward your employees you will get happy and energetic employees that will affect other employees positively. You can easily change bad behaviors in your organization by giving employees award. By recognizing the outstanding employees with the employees’ award, the process motivates all the employees and they will move forward as a team. There are different ways of giving the employees award and the awards are cheaper than the monetary compensation.
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