The last survey from SHRM and Globoforce showed that HR leaders see employee retention, employee turnover, and culture management as top workforce management challenges. These challenges drive companies to be more aware of how to show appreciation towards their employees’ hard work as well as how to help them develop as professionals. Based on the survey, human-centred approaches, value-based recognitions, funded recognition programs, peer feedback, and celebrations are seen to be the top valued recognition programs a company can give to an employee. These methods can help retain current employees as well as become a magnet for a company to attract new hires.
But what about physical awards? Is giving an employee a trophy or other kinds of treat still effective and preferred?
Many experts cited YES. Physical awards such as a trophy or certificate remain a good choice to show how appreciative you are as a boss. In fact, any types of recognition are welcomed by employees as it means a lot to them. Recognition can result in employees feeling more valued and appreciated for the contribution they have made for the company, especially given the fact that surveys found many employees are actively disengaged and strongly feeling not valued at work.
Physical recognition can also benefit the company and employee in terms of morale and productivity. AACCA mentioned that because recognition is seen to be vital for everyone in the workforce, giving out physical trophies and awards are preferred. Not only it could be a good motivation, but physical awards can also increase morale and productivity of your employees.
However, before giving away physical awards, you should pay attention to some considerations. For some times, physical appreciation might not be welcomed as it can result in jealousy or negativity in the workplace. Therefore, Dawid Ciechanowicz, a change manager and business transformation consultant, advice that physical recognition is a good idea if you follow these rules.
- Your reason for awarding trophies and other physical awards is understood by employees and most employees agree about it.
- You evaluation on the reward should be honest and should not include political influence.
- Your type of physical recognition i.e. trophy, diploma, lunch with a CEO should fit in the company culture. So, the award is perceived as something desirable and positive.
- Lastly, your recognition should fit within the whole system of recognition and reward company.
To conclude, physical rewards are regarded as effective recognition as long as it matches with your company culture. Thus, as company culture is crucially needed, you should introduce it to your employees on their first training. Likewise, understanding your employees' necessities and choices are also important to provide the best recognition reward or program. Thus, you can do an employee survey for what kind of recognition they want to have.