Challenge coins are becoming increasingly more common as a token of gratitude for employees. They can be customized to feature your company logo and motto, ensuring that employees know where they got it from. Your brand can use challenge coins in a number of ways to connect with employees more effectively.
Boost Employee Motivation
According to a 2018 Gallup poll, only 20 percent of employees agree that performance is managed in such a way that it motivates them to do a good job. Translate that to what your brand does on a daily basis. You may only have about 20 percent of employees motivated to do good. This could cause customer satisfaction and overall job performance to drop substantially.
By focusing on employee motivation, you’re able to give employees a reason to do better. When you have challenge coins that are presented in different ways, employees may strive to be one of the recipients on a monthly basis.
Increase Employee Retention
Again and again, employee morale is shown to be closely linked to employee retention. If people don’t feel like they’re included and that their managers care about them, they’ll leave in search of a brand that will care about them. You can use challenge coins as a way to boost employee morale. Empower your managers and supervisors to hand out the coins when they see someone going above and beyond. It’s a simple token but can go a long way to making someone feel appreciated. You may notice that your retention levels go stronger after implementing a challenge coin morale booster, too.
Provide a Token of Longevity
There are many tokens of gratitude given out that don’t last very long. Saying “thank you” can be meaningless to some employees. Giving them a free coffee or lunch is nice, but it doesn’t stick around longer than that day. A challenge coin is something that they can hold in their hand day after day, week after week, to know that they are appreciated. These can be extremely affordable, allowing you to have plenty to give away. Some employees may collect them, too, making them even more highly sought after.
If you have employees, your brand can use challenge coins in a number of different ways. Create a design that talks about who you are. You can even have multiple designs created. Roll out a program and see how it changes the dynamic if your brand.