Why Do Employer Recognition Awards Matter?

Organizations, regardless of size, chase after the same dream – brand recognition. You might think you have a great product, excellent customer service, and a thriving company culture, but how do you know for sure? To strengthen your brand, you need proof from a credible outside source. Employer recognition awards are more than a plaque on a wall or a trophy on a shelf. Recognition awards demonstrate legitimacy and credibility. They show that an organization can hold their own with the best in the industry and that they are innovative leaders in their communities and beyond.   Employer branding and recognition awards come in a variety of forms, from local and national honors to industry excellence and categories that focus on relevant topics such as inclusivity and diversity. To have the best chances of success at being named “best company to work for”, a Top Workplace, or any other recognition, be sure to research which categories best suit your organization’s goals before you start the application process.

Benefits of Employer Awards

Winning workplace culture awards give your organization something to celebrate, a sense of pride, and a much-needed morale boost. But they also offer a host of other benefits, including:

• Credibility: Nothing shows your organization knows its stuff more than winning an award. Workplace culture awards banish potential employee uncertainty, and best employer awards can establish a sense of trustworthiness and stability.
• Media exposure: Winning an employer award gives you bragging rights and the ability to boost networking, sponsorship, and engagement with prospective consumers and other organizations.
• Recruitment: People want to be part of a winning team. Employer awards attract top talent and ensure employee retention remains high.
• Performance: Workplace culture awards that recognize the importance of employee engagement have a positive impact on company performance. Engaged employees give their best each day and they’re committed to achieving company goals at a higher rate than employees who are not engaged.

  For Top Workplaces award winners like Power Home Remodeling, the benefits of an employer award are especially felt during difficult times. The COVID-19 pandemic is a recent example. After making the difficult decision to furlough 85% of their employees, the company carried out an employee engagement survey. The results showed a 96.5% positive response rate from employees who deeply appreciated Power’s transparency, support, and willingness to listen to feedback – traits that have allowed it to maintain a Top Workplaces status nine years in a row. This means Power’s employees are committed to hit the ground running when work opens up again, a clear benefit not every impacted company can claim after losing its workforce. Another Top Workplace award winner, TEAM Schostak Family Restaurants, found their strong focus on company culture and engagement allowed them to experience a significantly lower employee turnover, saving the company time and money. TEAM Schostak reported a retention rate of up to 81% across a number of well-known franchises, which is a rarity in the food service industry with the average retention rate sitting at 20-30%.

Awards and Employer Branding

Employer awards, including Top Workplaces, place an organization in a position of strength now and in the future. Awards communicate a high level of investment and a desire to exceed the norm – something that can do wonders for branding efforts. The benefits of a strong brand are numerous, but they equate to more than higher revenue. Top Workplaces also experience higher:

• Visibility: Promote your brand with little effort – the award speaks volumes in the local community and across the nation.
• Employee engagement: An engaged workforce is committed to the organization’s best interest.
• Employee morale: Awards recognize hard work and make employees feel appreciated. This boosts morale and gives employees a sense of satisfaction in the work they do.

  Top Workplaces leverage their success to uncover hiring differentiators, stand out in the competitive market, appeal to top talent, and gain a competitive edge. All of this adds up to a stronger brand that signals to serious job seekers, current employees, and competitors alike that the organization is a leading force on track for success.

How Do Awards Help Companies with Recruitment?

Organizations that are invested in their company culture recognize that employees are at the heart of their organization’s success story. Keeping top talent for the long haul is a major undertaking in and of itself, but it can begin with a better understanding of how awards impact recruiting. Energage data shows that 44% — nearly half — of employees at average companies admit they’ve searched for a better job than they currently have. Compare that to just 14% of employees at Top Workplaces who say they are actively seeking a new position. Awards have a strong impact on the recruitment process by empowering:

• Company credibility: Building a sense of trustworthiness is vital to successful recruitment efforts.
• Brand visibility to prospective employees: Winning workplace culture awards or a spot among Top Workplaces boosts PR on social media, in trade publications, and more, extending your visibility to top talent nationwide.
• Ability to attract better quality candidates: Attracting candidates who are informed about your unique culture and align with your company’s mission equates to better employee retention.

Earning a Top Workplaces award shows recruits you’re at the top of your game. It also gives you a competitive edge over other job offers your potential hire may be considering. In fact, some employees even cite the Top Workplaces award during an interview as the main reason why they were compelled to apply. Employee recognition is a platform from which an organization can express its commitment to building a healthy, people-first company culture – one where employees are supported and can grow their talent. Serious job seekers who do their research are looking for nothing less.

How Awards Improve Company Performance

Organizations that seek out and win a spot among Top Workplaces see an improvement not only in branding and employee retention, but also in overall company performance thanks to Top Workplaces insights. Employee engagement surveys lend a clearer view of employee perspectives, giving internal teams the ability to make better, more data driven decisions to improve engagement. Survey insights foster an environment of growth, where employees have a voice and feel heard, and effective, intuitive action is taken to bring about positive change. Utilizing Top Workplaces insights ultimately contributes to the healthy development of company performance and sustainability for the long term, resulting in better business outcomes. An annual employee survey also allows for benchmarking, which can draw the attention of employee candidates and potential business partners. Organizations that want to attract top talent, boost performance and retention, and stand out in their industry recognize the undeniable benefits of employer recognition awards. They give organizations an envious platform to applaud the hard work of employees, showcase their unique strengths, and hold the whole organization to a standard of excellence that encourages a continued drive toward success. Find out more about how your organization can participate in the Top Workplaces program.