Types of Corporate Recognition Awards

Attracting and retaining talents has been a challenge even before the pandemic. So how should businesses address this?

Of course, getting to the heart of their future workforce’s desires is vital. Luckily, employees are clear about what they want. These include flexible work hours and working with diverse teams. 

It also means employers that prioritize outcomes over output and recognition. Speaking of recognition, have you tried giving out corporate recognition awards?

If your company doesn’t have an employee recognition strategy in place, read on. Here, we’ll talk about employee rewards that can help boost workplace motivation and productivity.

Performance Awards

It does nothing for employee motivation if you just give awards because other organizations do it. Corporate recognition awards should be meaningful. 

With performance awards, you recognize employees based on their efforts. By doing so, the bar is raised for others. They’ll be motivated to perform their best, thus promoting healthy competition in the workplace. 

Now, you don’t want your employees to question the system’s fairness, so it’s best to use employee recognition metrics. You can read more information about key performance indicators (KPIs) online.

Work Anniversary Awards

A comprehensive corporate rewards program also includes celebrating employees’ important milestones. 

Work anniversaries are always worth recognizing because it helps employees feel valued. It also provides new hires a moment to contemplate their future and how they’ll grow into their roles when they pass the one-year mark.

You can give a gift card with a brief letter, a good bottle of wine, or customized company swag. Travel vouchers and experience boxes are great for long-tenured employees, plus a plaque or trophy.

Mentorship Recognition Awards

Remember that your employees want to work with diverse teams. These include those who can help them achieve professional growth. Mentorship awards acknowledge those who promote teamwork and innovation.

Note that managers aren’t the only ones who can do this. Employees who help each other learn and succeed are also mentors worthy of recognition.

Peer Recognition Awards

Being recognized by colleagues differs from being acknowledged by a supervisor. Peer recognition provides a distinct sense of achievement, and you can be sure your employees think it’s meaningful. 

To facilitate employees’ choice awards, you can ask everyone to nominate and vote online. A voting box is also acceptable. Since this method encourages active participation, it also helps boost employee engagement.

Important: Don’t Forget About Private Recognition

Public recognition is essential, but what about small everyday achievements? Do you just ignore them?

You also have to acknowledge such achievements, no matter how small these may be. A simple email or sincere kudos during a coaching session goes a long way in making an employee feel appreciated. 

If the budget allows it, be sure to give bonuses to individuals who contributed a lot to the company’s bottom line.

Want to Know More About Corporate Recognition Awards?

You’ve learned about the types of corporate recognition awards here, but it doesn’t mean you should limit yourself to these ideas.

If you need to develop a good employee recognition program, tons of resources online can help. You can also browse our site for more tips and advice on motivating your employees.