5 Corporate Award Ideas to Improve Employee Engagement
Employee engagement is one of those nebulous but oh so crucial factors tied to a company’s success. It’s hard to create but you know when it’s missing and we honor the companies that have achieved it. Starbucks is great at valuing and honouring their employees with a series of recognition award programs and benefits. This positive energy filters down to their customers and even has the ability to affect their bottom line. When polled, their customers said that 87% of the brand affinity was because of the way Starbucks treats their employees!
Are you showing off your employees and the opportunities that you’ve created for them to grow?
Millennials, the largest group to enter our workforce, are more motivated to be part of company with a mission and strong culture of support. By not honoring your staff with a corporate awards program, your business could be missing out.
The fact is that 22% of employees were expected to change jobs in 2017. This means more than just having to search for new employees and dig through endless spelling mistakes. Every time you have to replace an employee it will end up working out to 6-9 months of their salary.
This number is comprised of factors like hiring, search, training, lost productivity and lost experience. Let’s break that down even further, if you have a $40k employee it’s going to cost you $20k-$30k. Therefore if you have 22% of a 100 person company leave, this is about $550k in losses! Those numbers hurt!
Employee Recognition Awards can help retain staff
Having a strong culture and robust level of employee engagement can help with employee turnover. But don’t feel like you must fall into the Silicon Valley trap of pool tables, bean bag chairs and endless snacks. There are simpler ways to make your employees feel special. Are you offering time off for their birthday? (hint hint bossman!) Do you have a gifting program that they can get points to redeem for product? Like maybe a custom SIGG bottle? (Hint hint for you!) Or, our favourite, do you have an internal recognition awards program?
This can be daunting but don’t worry, once you set it up, it just rolls along!
There are so many ways you can recognize staff. Years of services is a fabulous way to showcase those who have contributed to the growth of a company. We’ve created a custom corporate award for a client for their 20-year employees. We created a unique piece where we custom cut the shape of Ontario and PMS colour matched to their logo. In 20 years a lot has changed and why not recognize in a grand way the way they have helped build you?
But don’t wait 20 years until you do something! You can start at the traditional milestone of 5 years. We love this piece that we did which incorporates the company’s logo.. It’s a tangible piece of recognition of your time together!
You don’t have to limit yourself to just years of service. Your employees do way more then that! You want them to feel special so make sure to highlight top contributions and hard work. We provide a custom corporate awards series that rewards for categories like Employee of The Year, Team of the Year and CEO Award of the Year. You want to showcase those that stand out and what better way to do it then through a personalized piece of recognition.
Contact our design specialists to talk about a custom awards solution for your business that will retain employees, increase engagement and provide motivation for years!