Recognition programs

5 Benefits of Recognition and Award Programs

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recognition and award program trophy5 BENEFITS OF RECOGNITION AWARD PROGRAMS FOR YOUR COMPANY

Businesses of all sizes benefit from employee recognition programs that increase sales, build customer loyalty, increase employee retention, an build referrals. Below are 5 benefits to starting or maintaining a recognition and award program at your company.

1. UNITY IN YOUR SALES GROUP
Because most top performing sales professionals tend to focus on their own sales goals, a Sales Awards Program encouages unity and working closer together towards a common goal. Everyone’s efforts raise simultaneously.

2. CONSTANT MOTIVATION
Sales Managers can allow the recognition and awards program to induce a constant state of motivation to the sales group. The potential to win recognition helps keep the pressure on, which increases productivity.

3. SPECIFIC GOALS
Every department has goals. Unless you keep those goals right in front of them, less than 10% can actually tell you what they are. Awards programs can be structured around keeping the goals at the forefront of their minds, and motivating them to reach them.

4. RECOGNIZING GROUP EFFORTS
Nothing encourages producttive behavior more than being recognized for doing something awesome. You already know that in most sales departments, 80% of the sales come from 20% of the staff. A vital part of increaseing the sales activity of your 80% is making them a part of achieving the sales goals. More confidence leads to more sales growth.

5. REWARD INDIVIDUAL EFFORTS
Studies have shown time and time again that the more often you reward good behavior (sales results), the more often that person will put more effort into replacating that behavior. Combine that with an individual’s desire to be awarded recognition at the front of a meeting with his peers looking on, and you have a powerful tool to keep sales revenue going up.

Awards and recognition programs are tried and tested ways of building and keeping momentum among your sales force. We’d love to help you create a program that will do the same for your business.

Recognition Programs equal a competitive advantage

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Downsizing and cost reductions, along with advances in technology and a rapidly changing marketplace lead to concerns over job security, employee stress levels, and loyalty.  As a result, the challenges of low productivity, retention rates of employees, and negative attitudes are high priority for HR professionals.

2 major trends

  1. Getting an early start on recognition. Rather than waiting 5 years, some companies are seeing results  in implementing programs that show recognition to employees as early as one year.
  2. The culture of recognition. Developing a positive culture and focusing on recognition may be a challenge, and take some to execute, the growth and benefits are worth it. Buy-in from executive leadership, with support from managers and everyone involved throughout the company is important. Performance-based rewards and recognition are also important components.