Selling High-End Awards

The Pitch
Selling high-end recognition awards requires patience and persistence. The individuals within human resources are the most important assets to a company. These are the individuals that you will be communicating with a majority of the time. They make the decisions on awards and recognition and develop and implement recognition programs. If you can help them to complete their program and provide them with an incredible customer experience, you will experience higher margins.

In order to do this, it is important to come up with a few facts for the human resources people in order to sell or even up-sell an awards program. Human resources should know that*:

• It costs over $10,000 to recruit one employee
• It takes an average of 6 months time to replace someone with three or more years of experience
• The costs of replacing, hiring, training and bringing one key person is about 2½ times the beginning salary
• National turnover rate is 35 percent
• Retaining good employees and business partners is essential
• People are motivated when they are making a difference, and when they feel appreciated

The Ripple Effect
A recognition award is like a stone thrown into a pond – the stone produces layers of ripples out to the edges. Recognition creates a similar “ripple-effect” within a company. As a co-worker is rewarded for their hard work, they inspire another, who then inspires another, and so on.

Awards motivate people, build pride, improve productivity, increase retention, and increase performance.

Return on Investment
High-end recognition awards and trophies are worth more than just dollars and cents. The actual value can be measured in the motivation of others, productivity, and awareness. In this way, recognition actually adds to the bottom line.

*For additional research on the cost of hiring and retaining employees, visit the National Association for Employee Recognition at www.recognition.org.

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Keys to Success

Why Recognize?
Recognizing employees is one of the most effective ways to improve performance and increase morale. More importantly, employee recognition leaves the recipient feeling appreciated.  When a recipient feels a recognition experience that moment is etched into their memory for years to come.   At Crystal D we call this “The WOW Effect” ™
 
Types of Recognition
Corporate recognition can take many forms, including:

• Employee Appreciation
• Employee Recognition
• Customer Recognition
• Vendor Recognition
• Investor Recognition

Recognition Symbol
A symbol of recognition should be meaningful and useful to the recipient. Rewards should be tailored to the preferences of the recipient. The biggest impact is felt when managers present employees with awards that hold personal as well as professional meaning.
 
Effective Recognition Program
An effective recognition program is driven by a program objective that aligns with company goals and strategies. Every recognition program should have a theme that focuses around the corporate image and the culture. Successful recognition programs require: 

• Concise Objective/Purpose Statement
• A specific start and end date
• Measurable objectives
• Marketing

Return On Investment
A successful recognition program generates a positive return-on-investment through:

• Increased production
• Increased morale
• Reduced turnover
• Increase in sales, quality, and/or performance

Copyright Crystal D 2006. All Rights Reserved.

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