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Note: Today’s collaborative blog reveals that ‘‘Awarding Others Will Reward Your Business.’
Personal experience confirms that recognition increases the motivation of employees to a higher level. Accordingly, the results on behalf of the business dramatically increase too.
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Awarding Others Will Reward Your Business
Many articles and books reveal the importance of customer retention. However, one should never overlook the importance of retaining valuable staff. Employees are the ones who know your customers the best.
Offering a physical corporate award they can display at home or in the office is just one way to improve your employee retention rate. Offering corporate awards such as crystal stars or mounted glass ticks for achieving goals and putting in the extra effort is a meaningful gesture. The recognition will reward your business.
Everyone needs quality free time. Ensure that your employees are not overworked or expected to carry out tasks in their own free time. Making work schedules flexible is a great way to maximize their work and free time to fit their personal needs. The practice is similar to retaining staff via work-life balance, whether managing a finance firm or looking for helpful tips for managing a restaurant.
Awards, trophies, and plaques specific to achievements have an important place in ensuring work is both rewarded and rewarding. Being presented with a personalized printed acrylic star award that states your name and achievement within the company acts as an excellent incentive for the individual receiving it and those that witness the presentation.
Employees welcome recognition of their work. Examples of areas to pay keen attention are to include their effort toward:
- Improving sales
- Increasing customer reach
- Potentially finding ways to streamline expenditure
Offer training and promotion opportunities wherever possible and reward these moves with plaques or small desktop awards. These types of awards also encourage career development, which in turn promotes employee retention. While it may seem like an additional expense to the company, you will benefit, alongside your employee(s), in the long run. Repeat, you will reward your business.
1. Awarding Those Who Have Served Your Business For Many Years
Providing employee long service awards is not just about rewarding the employee for their loyalty to the company. It is also about reaping the rewards that having long-term, focused, and loyal staff brings to your business.
Having the same staff over the long term means having a wealth of experience at your fingertips. They will know your business, how it operates, whom it works with, and most importantly, how to retain its customers. If you have a good, knowledgeable, and experienced team, you are less likely to feel the need to micro-manage them. Your time and energy are available for other essential aspects of the business. You could explore anything from expansion to creating new partnerships.
Trust is another vital aspect that comes with a long-term team. It is not just about the trust that you have built with them and they with you. It is also about the confidence that clients and customers will have in the team. This trust is likely to increase business as you receive recommendations by word of mouth for your products or services and existing customers.
A low staff turnover and a long-standing team also help when recruiting the best caliber of new staff. New hires can see that talent and experience reap the reward. They also recognize the vital element of job satisfaction and security when working for you. The experience will likely encourage them to remain team members who work to earn their long-term service award.
2. Encouraging Employee Loyalty In Different Ways
Staff retention starts with the working environment. Staff needs to feel valued and appreciated regularly. Something as simple as a well-organized management structure that provides clear instructions, deadlines, and positive responses aids with this significantly.
Training is also essential, along with job satisfaction and a reasonable living wage. However, most individuals also react positively to rewards and awards for jobs they do well. There are numerous ways to encourage company loyalty, some of which work better than others – and cost less. They will reward your business in several forms, including reducing their sick time to meeting sales targets, and naturally, the length of time they remain with the company.
An extended service award used effectively can make a real difference, and not just to the individual who receives it. It also benefits you as a company when introducing new staff to the environment. When other staff members see that staying long term has its rewards, they are more likely to think twice about leaving. If they can see that people stay with you for the long-term, it sends a positive message to them about your company and its treatment of its employees.
3. Employee Of The Month Awards
Recognizing an employee’s efforts is most commonly done by choosing an employee of the month. It is necessary to ensure that the system is fair and motivates the rest of the team to try their best. Providing awards for those chosen as employee of the month is almost at the end of the process. The hard part is choosing the right individual in the first place.
Employees must see the process as fair and open. Either the decision should be made by you and other managers, or through the whole team, with everyone getting to vote. Equally important is making sure that the reasons behind the choice are clear to everyone within the group.
Employees achieve corporate awards for numerous reasons, including earning the most sales and improving timekeeping. If the awards always represent the same reason, the same people will likely keep winning. The effect will be the opposite of what you want to achieve. Whatever the reason, it motivates both that individual and others to want to achieve their best all the time. All of this is only possible if you, as the manager or team leader, have taken the time to get to know your team and see how much effort they have put in during a particular month.
4. Consider Custom Awards to Show Your Gratitude.
There is a wide range of elements that go towards the creation and running of a successful business. One of the most important is keeping experienced and highly motivated staff. It can be a challenge in itself. However, with custom corporate awards that express your gratitude towards your team, you are heading in the right direction.
Why is gratitude so important? No matter their position, people are more likely to want to achieve their best when they know that their efforts, and outcomes, are appreciated. Small businesses especially can find it hard to show this appreciation through financial rewards. Tight budgets and rising costs make bonuses and pay rises that reflect effort difficult. However, providing awards can have the same, if not a better, effect. Not only do they show the individuals who receive them that they are appreciated, but they provide a visual stimulus to others. The employees watching strive to try to be the next to achieve one of your corporate awards.
Another benefit of trophies, plaques, and gifts is that they show appreciation for areas challenging to give financial bonuses. It could cover anything from an individual who dealt well with an unexpected crisis to someone who has drastically improved their sick record or timekeeping. Sourcing such gifts from a reputable source can customize the piece and include your logo, the individual’s name, and a short message. Whether you choose glass, crystal trophies, or acrylic plaques, they serve as lifelong reminders of an individual’s achievements and your appreciation of those achievements.
By following the suggestions above, you will reward your business, too!
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Sales Tips: Awarding Others Will Reward Your Business
- Be grateful for the team you have.
- Find something motivating to say to members upon seeing them each day.
- Verbally thank people for building business.
- Lead each meeting with an inspiring or motivating thought.
- Ask team members if they might like to add a message of inspiration before meetings begin.
- Upon recognizing a team member, ask them to share why they believe they are successful
- Have team members contribute their new insights to meetings.
- Offer members a confidential discussion of how something didn’t work well so they may improve.
- Reward the work of those who contribute with a team event and meal.
- Celebrate Success!
Today’s insights are provided to help you achieve the Smooth Sale!
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