However, I needed to know the complete reasoning behind it, how it would benefit my company and also what would be the costs involved.

After all, I am a small sized business not a large corporate giant. After a bit of research, I have found the answers to all the questions.

What are awards?

In simple terms, Trophy awards are your own unique way of giving something back to the employee for his contribution towards the growth of your organization.

Depending on the size of your organization and your employee strength, you can have several categories for your awards.

Some of the most commonly found categories include, best sales person of the quarter, best sales team of the quarter, best employee of the year, rising star of the company etc.

Of course, there is no reason why you can have you're an own unique name for the award.

Why they work?

?It peps up your employees or motivates them to work for that something extra that goes beyond the payslip.
? Do not be surprised at all if you find that your employees sit after work hours to meet team deadlines.
?It is human nature to seek accolades or a third party opinion on the work we do or on the tasks that we accomplish.
? A pat on the back was all that was required when we were kids. However, now they might just prove insufficient.

Results and costs

The results can be seen directly in the overall performance of your company. Almost all the award programs that I have held in my company have resulted in an improved performance.

Also, now there are several websites that have cost effective trophy awards. So that ends your costing woes.