Awards,and,Recognition,Program business, insurance Awards and Recognition Programs: They Pay For Themselves and
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Why People Need RecognitionRecognition boosts esteem and performance. All people have self-esteem and self-actualization needs, and must feel important, satisfied, and inspired to perform to their fullest potential.Recognition shows that a person's hard work isn't going unnoticed. It satisfies the person's need to be noticed, and motivates them to improve their performance even further.In addition to rewarding the person performing well, recognition also sends a message to co-workers as to the type of performance that gets rewarded. It motivates employees to strive for excellence so that they, too, can be rewarded.Why Awards are Better than MoneyStudies have shown, time and time again, that employees have always ranked praise and being shown appreciation as being more important than money. Managers and employers tend to think employees care primarily about pay. But the truth is, workers say it's more important for their bosses to show appreciation for a job well done.According to the results of a national survey by Robert Half International, "limited praise and recognition" was ranked as the #1 reason employees leave their jobs- ahead of compensation issues.In a recent study, Wichita State University evaluated 65 potential incentives and found that recognition from managers was reported to be the most powerful motivator of all the incentives.Cash awards can in fact have a demotivating effect. Compensation is a "right," but recognition is a "gift." People will do their jobs to collect a paycheck, but a paycheck alone will not motivate them to go that extra mile. Individual recognition is the key. From the point of view of the employee, the greatest reward is being acknowledged for their contribution. Non-monetary awards have sentimental value. The recipient will save the award and show it to their co-workers, friends, and family members. They are everlasting symbols of success, and are never spent or forgotten.In conclusion, when cash is always the reward, employees begin to think of the reward as their "deserved" normal compensation. They become accustomed to receiving the extra income, and the pride associated with recognition for a certain accomplishment is lost.The Top 3 Uses for RecognitionSales Incentives: This is the #1 application for award programs. The focus here is on improving performance and self esteem.Service Award Programs: By positively reinforcing behaviors, a company can improve quality and productivity, or achieve other organizational goals.Safety Programs: By rewarding employees for practicing safe work habits, the employer will cut back on accidents and effectively reduce the cost associated with on-the-job injuries.For more information about Denver's best selection of awards, plaques, and trophies, contact Red Canoe Promotions of Denver, Colorado. We can help you implement an effective reward and recognition program. Or, feel free to use our promotional product search engine to look for awards, plaques and promotional items that you can use for your program.
Awards,and,Recognition,Program