THE ETHOS BEHIND COMPANY AWARDS & RECOGNITION
Retaining a hard working and dedicated workforce in today’s world should be a slam dunk, no brainer. Yet there are still companies and organisations who take their employees for granted then grumble about high staff turnover. From the smallest business to the largest corporation, well cared for, well trained staff are key components in today’s competitive market. This goes for both public and private job sectors.
Put simply, it may determine your organisation’s success or failure.
To clarify – Rewards/Incentives indicate provision of financial and/or physical health benefits while Recognition produces positive mental health benefits. However, many components of corporate reward and recognition schemes often work hand in hand, such as platforms like Reward Gateway which offer employees both rewards and recognition at a click of a button, with staff surveys and wellbeing solutions.
WHAT FORM DO AWARDS & RECOGNITION STRATEGIES TAKE?
There are many but bear in mind individual organisations have differing Mission Statements, Ethos, Targets, Values and Cultures which will affect choice of strategy. One thing should remain the same though – the goal is to recruit, build and retain a happy, motivated, hard working workforce with a positive outlook.
Listed below are a few of the Award, Incentive and Recognition strategies which can be adopted to suit your business culture.
INCENTIVES
Maternity & Paternity Gifting – Knowing that a company offers Incentives for Parents gives out a good message. Alongside Maternity leave benefits, it is now recognised that over 90% of male workers will take some form of Paternity leave. A thoughtful New Baby Gift is a lovely additional perk and acknowledges the happy event in becoming a parent. Little Bundle Box assist many corporate companies with Maternity/ Paternity Gifting packages. Each gift comes with a couple of extras: a Free Personalised Card with company logo inside if required, and a Free ‘My Baby Notebook and pen’. Gift boxes start from just £26.00 or ‘choose your own’ from the selection of gift boxes, baby outfits, soft toys and new parent products. To find out more visit Little Bundle Box.
Flexible Working – it was once the ‘big new idea’ for a happy work/life balance, this has now become part of the norm since covid 19 hit in early 2020. Companies and employees have had to adapt quickly to more home working. As we know thousands of companies intend to continue working this way, not least because the business world is in a constant state of flux, but because it is proving to be cost effective. Many companies are now financially forced to downsize or close offices with others are closing for good. Flexible working, now more popularly termed Hybrid Working is a blend of office, and remote working with an increased use of meetings set up by Zoom or Teams for example. Flexible working retains its positive outcomes in terms of juggling work, childcare and family.
RECOGNITION
Being Appreciated – high on the list is feeling appreciated at work. It helps us feel good about ourselves and returns dividends to employers in the form of loyalty, a positive attitude and job satisfaction. They can be set monthly, yearly for example with nominations coming from Management or Peers. The best type are where recognition is of an achievement is publicly shared with other members of the workforce. This could be mentioned at meetings or in paper format such as a certificate or by a congratulatory email.
Being Valued – increasing evidence highlights that apart from a decent salary, recognition of a person’s value is a powerful reinforcer and motivator connected to performance. Motivated employees also bring better value to a business when they themselves are valued. Having a Management ethos where ‘thanking’ employees for an aspect of their work, reaps dividends for no outlay. Thank you e-cards with social recognition are now being used by many companies.
AWARDS
Monetary – Quite often staff Awards are given as a result of aiming and reaching certain Management targets. A system which offers points to gain cash based awards is a useful motivator especially if the tasks themselves don’t offer high levels of job satisfaction.
Discounted Offers through an on-line portal such as Enjoy Benefits, with staff access is another popular award scheme. These often take the form of vouchers for a certain value or money off percentages with local traders, such as: hotels. restaurants, holiday agents, health and fitness etc, cycle to work schemes and discounted private healthcare.
Provide a Free Event – there are lots of activities still accessible outdoors plus a huge amount of remote activities which can be utilised as a yearly feature for all staff or for different levels of management and workers. They can be used for Team Building, Health & Well-being, Inspiration or perhaps just for fun!
Office photo: Karolina Grabowska / pexels.com
