A recent survey by Aon provided some fascinating expert insights into the trends in the UK workplace and why employee awards are becoming increasingly important.
It highlighted the growing importance employers are placing on the emotional and financial well-being of their staff. The report stated that 59% of employers have a designated health and wellness budget with employers increasingly understanding that this is a sound business investment.
The report considered how employers will get the best out of their workforce. The benefits such as bonuses, flexi working, employee awards can all help to increase motivation, reduce absenteeism, fewer health and safety claims, improve staff retention and increase productivity. Interestingly the survey showed that 76% of employees agree that they are responsible for influencing employee health and changing behaviours.
The increasing importance of being placed by businesses on showing staff that they are valued, supports the growing importance of staff recognition awards. You only have to look at many leading employers to see such as Virgin, BT, Google and Amazon who all have staff recognition award programs and long service award schemes to celebrate employee milestones.
This award trend is filtering down to smaller companies we are seeing the benefits it offers in their workplace.
How is the UK workplace changing?
The survey highlighted that 94% of employers believe employees expectations of their work experience are changing. It’s how employers respond to this which will have a dramatic effect on their business.
The latest research from mental health charity mind states that one and six workers are dealing with a mental health problem and this adds up to a big bill of up to £42 billion a year and absenteeism and lost revenues.
Today’s young workforce face numerous pressures when it comes to finances rising debt, student loan repayments increased housing costs and pension demands – with money worries often cited as the leading cause of stress.
The survey highlights the importance of offering your staff great benefits but states that this alone isn’t enough to keep people engaged or to make you an employer of choice. The younger generation is looking for a greater work-life balance and recognition for their achievements.
Benefits in the digital age
The world of work has been transformed over the last decade. Technology, the Internet and computers have revolutionised our interactions. Mobile phones have changed the dynamic with our workplace and the way we seize opportunities. It can be hard to switch off with technology becoming addictive. This is why many employers are looking for ways for their staff to interact with team building and employee awards being the leading initiatives.
Employee Recognition Awards
Recognition awards come in different shapes and forms and can be awarded as part of an appreciation scheme, end of year ceremony or commemorating events. Presenting high-quality awards to staff members for their continued dedication and hard work will make them feel valued and recognised. As part of your programme, you can have dedicated awards for:
People contribute to companies’ success in different ways. Whether it will be through networking, building your brand online, meeting deadlines and delivering outstanding customer services, they all deserve to be acknowledged for the growth of the organisation. Invest in high-quality awards and make your employees feel appreciated at the workplace by saying publically recognising their successes and saying “Thank you” for all they have done.