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September 22, 2019

The Strategic Value of Corporate Awards

Does your company know the strategic value of corporate awards?

Workplace Strategy

The Benefits:

Corporate awards enhance corporate performance from the boardroom to the front lines. Businesses need to plan a corporate awards strategy with corporate initiatives in mind. For example, if the company is making a push for ethical behavior or corporate leadership, then it can look for awards competitions that recognize these traits.

Reinforce Corporate Values:

Diversity Award Booz AllenThe Coca-Cola Company has embraced the philosophy to have a diverse and supportive workplace culture. Adding credibility to Coke’s commitment of diversity, are the multiple business awards the company has won for diversity. Choose your award program in alignment with your corporate direction.

For example, consulting firm, Booz Allen Hamilton Inc., prides itself on diversity as one of their core values. Year after year, their Diversity and Inclusion programs consistently earn awards of distinction. Fifteen years of consecutive placement in the 100 Best Companies for Working Mothers award by Working Mother magazine put them in the Working Mother magazine’s Hall of Fame, which adds a vote of confidence for new hires.

PublicityPublic Relations Added Value:

Corporate awards bring benefits of increased awareness, third-party validation and establish market respect. The free publicity an award-winning business receives can result in more business and new connections. Plus, when used effectively, industry awards are an excellent sales tool to attract and close new business.

What About Small Businesses?

The benefits of business awards for small businesses are similar to large corporations. Often a small business will struggle to establish recognition and credibility in the marketplace. A business award win or even a nomination can open doors and have a greater impact on the growth of a smaller company.

publicitySmall companies should consider entering competitions, especially those sponsored by business organizations and publications, just so the judges, other business professionals and often journalists, will become aware of them and their products and/or service.

Do not underestimate the power of corporate awards competitions. Even if you don’t come out a winner, your company will gain positive exposure of your core values, a challenge to improve and an opportunity for your clients, employees and future business connections to see just how good a company you really are!

About Marion Myers

Comments

  1. Bob Bennett says:

    Winning a corporate award, especially at a notable industry event, can have a huge impact on a business. Not only is it great for company morale, it also gives your brand a ton of exposure to potential customers and give you something to hang your hat on.

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