Awards and How They Can Improve Your Company

Everyone knows that businesses strive to get awards, as they are something you can then turn around and advertise to customers. But if you're a business owner, you may not be aware of how you can use those same plaques and rewards to improve your company from within. Employees need incentives to work to the best of their abilities. Often, money alone is not enough, particularly if you happen to be a company that can't afford salaries that are competitive. If you can introduce something else into the mix that employees will take pride in winning, you may be able to get more out of them.

Morale

Even the most highly paid employee at a company likes to be recognized in other ways for their contributions. Someone who is paid a good salary but constantly berated or even ignored will eventually see their morale come down. Multiply this by the number of employees you have, and you could have a problem on your hands. Introducing awards into the company can improve morale. Now there is a special time for employees to be recognized for their hard work. Upon learning that they could win this recognition or after having received it, it is not uncommon to see better performance.

Motivating

Motivation is a concept talked about extensively by both business owners and those who specialize in leadership concepts. There are many theories regarding motivation. Some claim the best motivation comes from within. Others claim that a reward system is necessary to get people motivated. While both theories may have their proponents and truths, as a business owner, you only have control over the latter. It's far too late in these employee's lives to teach them internal motivation, so you have to work with external reward. Providing recognition for those who have excelled in their job is one such reward.

Competition

Competition, when mediated, can be a very good thing for any company. You want your employees to compete. Not to the point where they are sabotaging each other or working against the company's goals, but a certain degree of friendly competition is healthy. Having awards that the employees can compete for can instantly turn around the attitude of those working there. Of course, to do this, you have to treat the recognition seriously. No one is going to compete for a cheap trinket and a $5 gift card. But if you get a nice plaque or trophy, attach some significance to it, and treat it with respect, you will see a difference.