While your employees may appreciate a cash or gift card acknowledgement for a job well done, it's rather impersonal and doesn't show that you have put a lot of thought or effort into telling them "thanks for the hard work." This is why it's becoming more and more apparent in the professional world that cash is no longer king. If you want to show your employees that you truly care, consider a custom gift like appreciation plaques.

Personalization Shows You Care

Cold, hard cash is just that: cold and hard. Nothing gives your employees a feeling of warmth and happiness to you and your company like receiving a gift that really has some thought put into it. More and more employees are looking for a mutually respectful relationship with their employer, where they can work hard and be shown adequate appreciation in return. While cash used to be the go-to gift for a hard working employee, it is now considered too impersonal and a much better gift would be trophies, awards, and recognition plaques for a job well done.

Thoughtful Gifts Increase Loyalty

Considering the cost that goes into hiring and training a new employee, it is very lucrative to keep the same staff around for many years. Giving your hard working employees a gift that shows you really thought about them, and that you didn't just throw some cash into an envelope, will help to increase employee loyalty to your company. Appreciation plaques are a great alternative to cash, and show your employees that you went out of your way to thank them for all of their hard work and dedication to the company.

The Value of Adequate Recognition

As stated above, high employee turnover can be costly. One study showed that losing an employee and going through the rehiring process can cost 6-9 months worth of salary. Another study revealed that replacing a $10/hour employee cost an outstanding $3,328.00. While the outcomes of each study may be all over the board, there is one common consensus: losing employees costs money. Whether it is a large or small sum, it's wise to show your employees that you truly care by offering thoughtful appreciation plaques and trophies.

It's an unfortunate and poor financial decision to forgo having a budget set up to hand out awards to employees who deserve it. If your company does have a budget set up, make sure that you are using it wisely. Don't stuff some cash into an impersonal, blank envelope to say thank you. Show your employees that you value their contribution to your company by awarding them appreciation plaques, trophies, or other personalized gifts to say thank you.