AWARD-THE WAY OF RECOGNIZING
What is Award :
An award is a certification of honor given to a recipient or a token of recognition of excellence in a particular field. The token may be a medal decorated by a ribbon or other design-based item. It may be any substance of use. Let’s take a designed bag, flower bouquet, or a written frame that has corroboration of his excellence or contribution to the field engraved on it.
Aspects of Awards :
An award has three aspects 1) who is given, 2) what, 3) by whom, all varying according to the purpose. The recipient may be a single person or a representative of a group of people, be it an organization, a sports team, a whole country, a cast, or a clan. The award item may be a symbol suitable for wearing, such as a badge, medal (order), pin, or ribbon. It can be a token object such as a trophy, prize, or commemorative plaque. The award may also be accompanied by a certificate, title, diploma, as well as something of direct value such as scholarship money.
Moreover, an honorable mention is an award given, typically in education, that does not confer the recipient(s) a higher rank but is considered worth mentioning. A state may also be endowed with an award as a state decoration by a sovereign state, dynasty, public authority, or a private organization or individual. The latter may also include ecclesiastical authorities, such as in the case of ministerial awards.
Notable Award :
For example, the Nobel Prize recognizes contributions to society, while the Pulitzer prize honors literary achievements. An award may also be a public acknowledgment of excellence, without any tangible token or prize.
In Sports or a tournament usually, the award often given is called Cup, and the participants or players are usually offered medals. In contrast, in the time of Greek or Roman, the awards usually given leaves or crystal pieces or plaques. Monetary prizes or awards were in Vague from the beginning. For the employee. For employee recognition very often in a good organization, Promotion has been given along with incentive as an award.
Awards towards Employees, Workers :
Accenture, IBM is proud to have been recognized as a global leader across financial indices, our brand value, and our reputation within and across our industries. Our leadership is often acknowledged by leading financial publications, professional and government organizations, and other institutions worldwide.
Peer rewards are a way of encouraging employees to recognize each other’s work; those things workers know that managers might not realize. E.g., at Google, any employee can nominate another employee for $175 rewards.
Group rewards encourage bonding among team members. Getting one team to work together as one benefits the entire organization. Just like the Society for Human Resource Management points out, “successful organizations are extremely innovative, and innovation requires teamwork.” Team-based bonuses create and emphasize the need for collaboration among all the employees across the globe.