Planning a Grammy-worthy corporate awards ceremony entails a lot of planning, organizing, and other related hassles. This might make you overlook some crucial details. For the entire event to proceed smoothly you need to take ownership of the entire process. Here are 10 steps that can help you organize a successful awards ceremony for your company.

Whether your employees have attained certification for IT, auditing, teaching, or any other accreditation, it is important to acknowledge them since whatever skills that they will bring on board will be beneficial to your company. Certifications that are awarded to your company also need to be acknowledged since they sum up the individual effort of all employees and stakeholders.

The trend of job-hopping has continued to grow as more millennials enter the workforce. In a recovering economy, changing jobs frequently no longer carries the stigma it once did. The problem is that the increased turnover of employees is costly for businesses. Based on a study, it costs about 21 percent of an employee’s salary to replace them when they leave. Today, it’s smart business to develop your own retention strategy. Here are some takeaways learned from six case studies with businesses who have seen success with their strategies.

The Pareto Principle states that 80% of your revenue comes from 20% of your clients. Studies show that a meager 5% increase in customer retention can generate a 95% rise in profitability. Repeat customers also buy 30% more than first-time clients. In other words, the effort you put into making your regular supporters feel appreciated has astronomical effects on your bottom line, and something as simple as a “thank you” gift generates measurable returns on your investment.