4 Inspiring Reasons to Give Employees Annual Awards

At the end of a calendar year, employers often throw holiday parties and offer end-of-year bonuses if the company was profitable over the last four quarters. While these are generally viewed as common ways to recognize the hard work of your employees and to thank them for their efforts, it may also be overwhelmingly helpful to recognize at least some of your employees with a special award. With a closer look at what annual awards can do for your employees and for your business, you may be eager to get the ball rolling on the implementation of an awards program in your company. 

1- Motivate Your Employees 

Some employers and managers believe that the most effective way to motivate employees to stay on task and to do their best work is through monetary bonuses and raises. It is true that most of your employees are likely working to earn a paycheck, to make ends meet and to otherwise advance in their career. However, a paycheck gets your employees in the door and gets required tasks completed. You understandably want to motivate your team to put forth their best effort, to promote the best interests of the company in all that they do and to otherwise go the extra mile. Many workers are motivated to do their best work for you when they know that their efforts will not go unnoticed. An award may be all that is needed to encourage many of your employees to do their best. 

2- Show Gratitude

Some of your employees may have gone above and beyond at specific points over the last year. For example, an employee may have pulled extra weight while someone else took an extended leave of absence. Perhaps an employee or even an entire department put forth tremendous effort to please an important client or to innovate a major and beneficial change. In some instances, financial compensation is in order for working substantially more hours or taking on tasks that are not included in their job description. However, regardless of whether extra compensation is provided or not, an award presented at the end of the year shows gratitude to an individual or a group in a public way. 

3- Recognize Extra Effort

Some employees will take the initiative to go above and beyond for various reasons even without motivation. However, they may become discouraged and even disgruntled if they feel that their efforts are not being recognized by their employer or their coworkers. When this happens, some of the hardest workers in a company may slack off or fail to put forth their best effort. Eventually, they may become so dissatisfied with their job that they look for employment elsewhere. An annual award provides you with the ability to recognize the extra effort that your employees make to serve customers or to otherwise promote the best interests of the company. In the process, it may lead to employee retention and a higher job satisfaction rating overall. 

4- Draw the Attention of Others

Your employees are observant of the efforts that others make as well as how you respond to those efforts. Some may take the initiative to go above and beyond on their own, and others may watch and learn from others. When they see that others are working harder, doing more or staying in the office later and are never getting ahead, they understandably may not be encouraged to follow their lead. In fact, maintaining the status quo and only doing the bare minimum that is expected of them may be reinforced. On the other hand, when your employees see that the hard work and extra effort of others is appreciated, recognized and rewarded in various ways, they may be inclined to follow suit. 

There are many ways to recognize your employees’ hard work and to thank them for a job well done. Financial compensation is always appreciated, but it may not be enough in some cases to make a difference. In other cases, it may not even be required. An annual award is a way to publicly recognize specific employees or departments, and you can create awards for various things. With this in mind, it makes sense to identify the employees or departments that you want to recognize as a first step. Then, you can customize awards to suit those individuals or groups. You may adjust the awards that are given each year to meet your needs.

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