Tuesday, February 17, 2009

Business Awards, Are You Underestimating Them?

Company awards are presented to employees of a company for an assortment of reasons.  Sometimes people get awards for reaching particular milestones in their career with the company, like 10 years and 20 years of service.  Other times companies give awards for hitting goals or satisfying a particular goal.  Frequently at the completion of a large project, after it has successfully come to fruition, a company might honor the employees responsible for the project.  Numerous companies still give awards as holiday incentives, though this practice is decreasing with the economy.

Company awards are oftentimes some kind of jewelry to commend an employee for great service, like a tie tack or a pin.  An employee celebrating a 20th anniversary with the company might get a nice watch, whereas someone celebrating only 5 years gets a desk set.  Holiday incentives might include a party and some type of present or a ham or turkey.  Many companies are giving gift cards today instead of passing out actual food products.  And then there are still a select few company incentives that come in the fashion of cold, hard cash (or at least a bonus on the paycheck).

Although it is true that employee awards can be a genuine factor in furthering a company's performance, a similar, but much overlooked method is to obtain awards for the company itself. You'll find specialized details on this subject at the {awards list} site. Corporate recognition awards - in which an independent body recognizes your company as the best in it's sector or in a particular area like customer service or employee development - can be a huge marketing benefit. These awards can obtain favourable PR and news coverage and attract better employees. Smart companies deliberately target industry awards each year as part of their formal marketing plan. Company awards are definitely worth learning more about.

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