When it comes to employee relations on different levels, the recognition awards carry immense importance because they boost up their confidence. The business companies that have not taken this initiative yet must give this a serious thought so that they build an environment that is friendly, productive and comfortable for everyone.
It is believed that the recognition awards promote motivation amongst the staff. You can look for some crystal awards, trophies and some other gifts which you can give away to your employees. These awards give birth to a healthy competition which is better for the company as a whole.
Different researches are being carried out on the importance of employee recognition and it was revealed that the retention rate of employees is high in those companies where this activity is in practice. Since these awards are means of public recognition, it just becomes another motivational factor for the worker to work hard.
Rewarding employees with gift cards or cash is not preferred because they are taxable items and also do not reflect the true value of the employee. If you run a company and have not started giving away such recognition awards, then it is high time that you do it because it is in the interest of your business.