4 Reasons Why Awards Increase Employee Engagement
These days, many more businesses are providing their employees with awards. These may include anything from additional vacation days, cash bonuses, casual workdays, health insurance perks, catered lunches at the office and so much more. While you might initially think that offering such bonuses to employees is a waste of money, the opposite is actually true. Awards can increase the engagement of your employees for four chief reasons.
It Can Save You Money
When your employees are engaged, they are more encouraged to stay with your company. As a result, that can help to save your business precious money. You won’t have to throw money away in searching for new employees to replace any who have left. Additionally, an engaged employee will always increase workflow and the ultimate goal of your business, which will generate more revenue.
Recognition is the Top Driver of Engagement
When you give awards to your employees, it shows them that you care and recognize their hard work and dedication. When people are recognized for their efforts, it makes a huge impression on them and drives them to do even better. Overall, it is the biggest driver behind employee engagement.
It Encourages More Productive Employees
Awards can increase employee engagement by encouraging your staff to be more productive. When your employees are happier, they will perform that much better. Generally speaking, on average, when employees are more engaged, their productivity in the workplace can increase anywhere from 20 to 20 percent. Even if their efforts alone and not the actual outcome is awarded, it can really help in this area. It ensures that employees are overall happier and less stressed at work.
Happier Customers or Clients
Finally, employee engagement as a result of businesses providing awards to staff can even make for happier customers or clients. When your staff is more engaged and perform much better as a result, it can make your business’ customers or clients happier and more loyal to your brand as a whole. In fact, customer loyalty can increase by around 233 percent when employees are better engaged. This also encourages the employees as they see others appreciating their hard work.
It’s important to acknowledge, however, that this happens when the engaged employees are also fully trained. Even job training that you offer to employees immediately after hiring them can help in this regard. It should be quality training that increases the skills they already have, which can also be considered an award. In turn, excellent customer service and productivity can result in keeping customers and clients fully satisfied and loyal to your business.
These are four reasons why awards increase employee engagement. Your business will be more successful for it.