By Deepti Gelli, Head of Demandbase India
Most companies know the obvious perks of winning awards, like public recognition, press mentions, and impressive-looking badges or trophies. However, awards can also be used strategically to help your company get stronger and achieve more success.
As part of a company that has won a long list of awards, I’ve seen the processes around–and the importance of–such achievements. Here’s a look at why being an award-winning company matters and what it can do for you and your organization.
Recruitment & Retention
One of the most valuable aspects of earning awards is what the recognition does for your team. Certain accolades can help with recruitment, some build trust with your internal team, and others boost employee retention, such as the “Best Place to Work” awards.
Local business journals and nationwide organizations like Great Place To Work® often award such honors. When your company applies for something like this, your entire staff will be given a survey to complete about their experience. This allows employees to feel heard and voice praise or concerns anonymously.
The feedback your organization’s leaders will get from the survey provides a direct window into how the team feels, what’s going well, and what can be improved. This allows executives to take action and make positive changes that matter to team members, thus improving retention.
On the recruitment front, simply having the badge or announcement on your website will speak volumes to potential applicants about the company culture. Most award programs include some sort of public announcement about their winners. When this happens, your business will be exposed to qualified, eager candidates in a positive, earned (non-promotional) way.
Employee Engagement
Beyond recruitment and retention, awards can significantly impact how engaged your team members feel with the organization daily. After all, gaining industry (or other types of) recognition should reflect what your company is already doing exceptionally well. Public endorsement simply highlights those strengths, reinforcing for team members what’s great about working at your company and showcasing the positives to external audiences.
For instance, my company has a culture of respect, transparency, integrity, and “we” rather than “me.” Our leaders make sure we know that it’s okay to make mistakes because it’s all part of learning and innovating. There is a strong emphasis on learning, development, and innovation, as well. We strive to ensure our team members continuously grow and become better versions of themselves every day and to push boundaries with our products.
As a result, we’ve been fortunate to win a great many awards for our work environment, company culture, product, and innovation. Our team members would be aware of these benefits without the awards, but having those external markers of achievement gives us all a great sense of pride in what we’re doing as a team.
It also gives us something tangible we can show our loved ones and friends, a testament to why we love our work and company. Furthermore, it builds our reputation in the industry and with customers. People want to work with other individuals and teams who are known for quality and achievement.
Channel for Strategic Improvements
Finally, there’s another way that awards can be used–albeit more strategically. Sometimes, an organization might find itself with a perception problem. Perhaps some customers have been vocal about issues with the customer service department or a defective batch of products was released, both of which attracted public criticism.
When this happens, your company should first examine the issue at hand and create a plan to remedy it. Once the plan is in place, you can start looking for awards validating your wins or progress in that area. Shifting negative public perception is important to maintaining brand loyalty, and awards provide a way to do it.
Consider the customer service example from above. You could either highlight positive attributes of your customer service department over the past few years or prepare a submission that discusses your challenges and how you overcame them. Either way, getting validation in an area where you’d previously been seen as weak is a smart business move and can help rebuild customer trust.
In Summary
Awards signify much more than trophies or empty praise. They can be used strategically in your business to recruit top talent, engage and retain existing employees, improve your brand image, and contribute to shaping your vision for your organization. Being an award-winning company is not a vanity metric; it’s a powerful signal to employees, customers, and competitors that you’re committed to excellence, innovation, and long-term impact.
Also Read: An Insider’s Look at One of India’s Best Places to Work
Thank You For Your Vote!
Sorry You have Already Voted!
