Pricing and Costs of Employee Recognition

Find pricing and costs of employee recognition to suit your budget
By Angela Roe, Freelance Writer While it is true that employee recognition builds morale and helps you retain the best of your employees, there is a cost to employee recognition gifts. Examine different employee recognition awards to help you create a reasonable rewards budget.
 

Divide your employee awards into different levels to help you evaluate the pricing and costs of employee recognition. Determine a price point of employee gift ideas in each level, and make sure you're considering all aspects of the costs. As an example, you can find many free templates for employee recognition certificates online, but you also need to factor in the costs of paper, ink and the wear and tear on your office computer.

1. Look for inexpensive work performance recognition.

2. Consider personalized employee recognition glass awards for mid- level recognition.

3. Reward outstanding achievement with outstanding recognition gifts.

Choose cost-effective job recognition gifts

Learn how to show recognition to an employee with little expense. Give praise during staff meetings as a way to recognize employees for free. Purchase blank thank you notes in bulk to keep recognition gifts in hand. These types of recognition gifts will range from pennies to still well under a dollar each, making them an attractive option.
Try: Posty Cards provides you with a variety of thank you notes for between 30 and 60 cents each. The more you purchase, the less expensive the cards. Office Depot has several styles of thank you cards that range in price from $7 for 24 cards to $10 for 50 cards.

Step up to mid-level work performance recognition

Thank your employees for their work and dedication by recognizing their efforts with mid-level gifts. You can typically purchase this level of recognition awards for $15 to $100 per item. The wider price range of this level allows you to select a gift that's appropriate for the act that's being recognized. Ask about engraving. Most places engrave items as a part of the purchase price, or you may be asked to pay per letter. Typically it's less than $1 per letter to have something engraved.
Try: Awards for Anything has plaques, desk clocks and paperweights that range in price from $15 to $70. Dinn Bros. offers awards for recognition that start as low as $16. Awards include personalized acrylic awards in various shapes and sizes.

Inspire outstanding contributions with outstanding corporate recognition rewards

Make sure that once-in-a-lifetime achievements are recognized with once-in-a-lifetime awards. Set the standard very high in order to keep costs under control and choose something specific for that individual.
Try: Tiffany & Co. will help you with recognition gifts that range in price from $100 to $3,000 each. From crystal to watches, clocks to cuff links, you can find the perfect gift for recognizing amazing actions from your employees. Take employee awards to the highest level by gifting your most deserving employees with a gift from Steuben. With prices starting around $1,000, you can make a real statement of gratitude.

• Keep the pricing and costs of employee recognition in control by purchasing gift cards as recognition gifts. You can set the specific amount awarded on the cards, allowing you to choose an amount that is in line with the achievement you're rewarding.