An award is a compensation or recognition to someone who has done outstanding work for an institution, company or community. More than a mark or achievement, it is a way of thanking a person for his servitude and dedication. Most awards come in the form of plaques, medals, and trophies, with corresponding certificates that are usually signed by heads of the organizing committee or members of the board of judges, as proof of the validity of the award. Oftentimes, these achievements are relevant, especially in the fields in which they were won, even after a few years have passed.
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Awards as Motivation
Awards are not only achievements. They could also become good sources of motivation for students, employees, and members of the community to do well in their craft or work. As a company owner or business practitioner, it is beneficial to take advantage of some motivational techniques, such as giving monthly, quarterly or yearly achievements and awards to performing employees. Giving recognition is one of the many ways to keep the workers’ morale high and the production greatly benefits from happy laborers than unhappy ones.
Employee Awards for Better Performance
Depending on the budget your company has, you can opt to giving various monthly, quarterly or yearly awards. Using fair and achievable metrics that aim to motivate instead of frustrate your employees, you can turn good workers into better ones and the competent into competitive.
If you are interested in how you can go about giving recognition to the best, here are a few ideas on what awards you can implement as motivation for your employees:
Best Employees or Top Performers
This is an award for the employees that have shown tremendous overall contribution for the growth and progress of the business or company. The metrics for your awards should be objective and attainable enough to promote healthy competition. Top employees of the year should receive compensation huge enough to motivate them to want to retain the title or motivate those that aren’t to become top employee next year.
Loyalty Award (once every five years)
An award that values the tenure of the employee, the longer the stay, the more extravagant the prize usually iss. Most companies give gold or silver watches to employees that have been in the company for 5 years, and award more prizes on the 10th and every 5 years after that.
For big companies that operate in teams, recognizing group effort promotes teamwork and encourages workers to support each other instead of bringing each other down.
Awards for Businesses
In the corporate setting, good employees aren’t the only ones that are given recognition; good businesses are recognized as well. There are a lot of government-initiated awards and private sector recognition that your business or company can be nominated for. Once your corporation has established a name for itself and has excelled in the niche, the awards will come pouring in. Society gives back to businesses that are helping the community.
Further, awards for top-performing businesses are given out by the entity or body of the industry they belong to. These organizations recognize the company and its achievement, making it the top in their field. Most of the time, winner is selected by their peers and the general public. Aside from compensation, a certificate is given. Other private entities also give out awards or recognition, such as the Forbes 100 Richest People in the World or National Geographic’s Best Photo of the Year. These do not only bring public recognition, but a confirmation that a business or individual has become the best in their field.
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Importance of Awards
Awards are present in any field, whether in the creative, entertainment, business or technological industry; but even the academe has high regard for recognition. Scientific, mathematics, and literary achievements are also recognized globally in grand occasions; so it’s safe to assume that rewards are essential in any field.
Although different rewards have various functions, they serve the same purposes:
Awards encourage current and future practitioners of the field to continue being better in their designated expertise. Those who are hoping to get into a particular industry will be motivated by the awardees into not giving up.
Setting the standard of excellence
The reason an award is highly-coveted and valued is because it is not given to mediocre and poor-performing individuals. Most awardees have dedicated all their time, effort and energy into their chosen craft; because of this, awardees are used as peg of excellence and success in the industry.
When a person, group or company receives an award, it becomes a testimony to their work ethic, discipline and, most importantly, skill. Some awards acknowledge communities in which certain industries operate, and, in turn, makes investors decide to give doing business in that area a shot.
Recognition and Validation
An award is proof that your peers, community, and industry have recognized your or your group’s efforts. The acknowledgement will put you up for consideration and nomination the next time a similar award is given out.
Marketing and Visibility
An award can give a person or company the right amount of promotion and visibility it needs in order for them to succeed even more. Once an excellent individual or brand gets an award, it opens up opportunities for growth and other possibilities such as partnerships and sponsorship.
Types of Incentives
Awards and recognition often come with corresponding rewards and incentives. An incentive is defined as a form of motivation for a person’s actions. Although gaining awards are already motivation enough, they often have add-on benefits and compensations. Here are the types of incentives as classified by Clark and Wilson in 1961:
Tangible and often monetary in form, this kind of incentive is most common. Other forms of material rewards are jewelry, gift certificates and memorabilia such as trophies, medals and plaques.
This reward type focuses on the social aspect of an incentive by giving a recognition based on association, such as social status, awards, or promotion.
These are intangible rewards relevant to the goals of the organization, such as being in charge of an event or given a special assignment.
There is a lot to be learned in awards and the process of making certificates for them. If you have a business and you hope to motivate your employees to be better, your company can benefit from the award certificates, forms and documents we have available in our site. Browse through our collection of samples and templates ideal for any beginner or business owner. Download one today and start on your way to becoming the next mogul.
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