It is not easy running a company. There are just too many things that need to be taken into account and professional partnerships to be maintained. What is even more difficult is to work for a company that thrives to be the best in the industry. There are just too many demands and requests to keep up. That, if you hadn’t already known, would be the burdens that your employees must carry on their shoulders everyday through the course of the time they work for you and your company. There are assignments to complete. There are tasks to finish. There are a mounting pile of reports to do and they cannot wait for their completion plays a big and important role in the well-being of the whole system. If you thought that the whole thing is easy, you would be gravely mistaken. Those people you hire are people. Granted, you pay for their service but there are limits to how many things a person can accomplish in one day. If your employees (or at least some of them) are capable of meeting the company’s demands perfectly (or nearly perfectly), you should know better than simply not being late to pay their salary.
We are talking about appreciation, the way you show your gratitude toward your workers. Salaries, bonus, and all do not count as appreciation. They are simply your employees’ rights, things they are entitled to, therefore are ineligible to be counted as a token of gratitude. You could argue that by not being late to pay their salaries, you have done enough to appreciate their work. That might be true but you do not get anything else out of that more than what you already have gained. You would be surprised by how engraved plaques could draw more out of your employees. Let’s put that in a more digestible example. So you know your employees have been working hard and all of their hard work goes to none other than making your company (the place they call home, professionally) better and great. In return, they get salaries and bonuses and extra payout for the overtime and all. But if you couple those with an award of sort, you kind of tell them how much you appreciate their dedication. Your employees are happy for that as they now realize that their efforts do not go completely unnoticed by their leader.
With a plaque award in hand and with that particular realization they have got about how much you appreciate their work, they would be encouraged to give more to the company. If they have been working for all this time at a scale of ten, they might be offering tenfold of that in the coming days. That might not mean much in terms of their basic salaries; it’s a fixed variable, after all. But bonuses might overflow in their direction and overtime payout could increase. And your company, let’s not forget, would benefit more from employees’ high performance in the future.