Five Reasons to Give an Award
1) Awards Provide Motivation
Corporate gifts engage employees and inspire them to work towards a particular award. Corporate gifts have been shown to increase employee retention more than cash or gift cards.
2) Awards Provide Public Recognition
Presenting recognition awards at company events is a great way to provide public recognition. Public recognition is a proven motivational tool. Additionally it sends a message to employees that excellent work is appreciated and will be rewarded. Recognition awards can be presented at awards ceremonies in which managers positively reinforce desired behaviors of model employees through public recognition. Or these great awards can also be given out during holiday parties or events.
3) Awards Have No Income Tax
Tangible award merchandise is not necessarily subject to personal income taxes but cash and gift cards are always reportable as employee income.
4) Awards Are Affordable
Modern award programs including tangible corporate gifts are usually grouped together by price points, always ensuring an easy-to-budget employee award program with a wide assortment of name brand gifts to select from.
5) Awards Have a Higher Perceived Value
Recognition awards keep the cost of the gift hidden from employees. Gift cards and cash bonus gifts reveal the monetary value of the gift. Keeping the cost of the recognition award hidden from employees often results in employees assigning a higher perceived value.