Here we look at the reasons why entering awards is essential business practice:
Internal Recognition
One of the most important factors behind why businesses should place importance into awards is to help recognise the different teams within the organisation. For example, our teams work hard to produce incredible results for clients across the board so an award win is recognition not just for the work we have done for clients, but for the teams themselves and the hard work they put in day to day.
Even the act of entering awards shows team members that the company values their work and acknowledges their contribution to the business’ success. Being shortlisted and/or ultimately winning gives teams a huge amount of pride that can lead to an increase in morale and a big push in motivation.
External Reputation
Awards can be a great indicator of companies that truly uphold best practice and can help externally validate all the hard work that goes on internally.
You want clients to be impressed by your company and your people, not just because it instills respect and shows them that you are in the best position to help them with their needs, but also because clients, just like the modern consumer, want to know they are working with an organisation that is good to their people. After all, happy employees make for more engaged workers who will be more effective in the long run.
Attract New Business
A good reputation can lead to client wins and revenue increases while a bad reputation can harm a company’s financial standing beyond repair in a matter of hours. Awards are a great way of building a strong, positive reputation and that can be a magnet for new business. Clients want to know that they will be receiving award winning services and these wins can act as perfect testimonials.
Attract Talent
As well as attracting new clients, awards can help attract and retain new recruits who want to be associated with an award-winning company. The opportunity to work for a company who have strong accolades to their name can entice talent at every level and help your company enhance their talent pool with people eager to uphold and advance the company reputation.
Benchmarking
The competitive nature of award schemes encourages team members to strive to be the best: create the best results and work together in the best possible way. This is good for the business as well as for clients. It is a chance to benchmark work against industry peers and see how your work measures up. It can also provide a chance to take inspiration from other businesses within the industry.
Learning Opportunities
Company-specific awards allow you to evaluate how you are improving year on year and provide a great opportunity to really look at the inner workings of your company. Going up the ranks over the years demonstrates that you’re doing more than just listening to feedback from team members, it shows that you are learning and implementing change to keep ahead of the competition and future-proof the business.
Brand Exposure
Awards can of course help garner fantastic brand exposure. Winners are celebrated amongst peers both at the ceremonies and in the post-ceremony literature, and there are almost always valuable PR and social media opportunities involved. At DRPG, we use social media, our internal news feed and our blog to share awards news. We use these platforms to update and congratulate our teams, boosting their profiles celebrating achievements as a company.
Networking
The ceremonies also give you a great opportunity to reward team members, treat clients and partners to what can be fun, social evenings out. The chance to bond with teams outside of the office in a celebratory environment can have huge benefits for team morale and the networking and socialising opportunities for clients and partners can also be hugely beneficial.
Entering awards should not be seen purely as a marketing exercise. The benefits run through every aspect of a business from boosting team morale to attracting new talent, networking opportunities and time for a little self-evaluation. The entry process can be as important as the recognition that comes from winning should not be underestimated and the power of celebrating team members at all levels can be a hugely powerful tool in increasing employee happiness, engagement and effectiveness.