- Is it truly winnable?
- Does the organization providing the award brings credibility (if you have to pay to participate in the application, look extra carefully)?
- What would having this award mean to your organization?
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They come with hours of writing and require coordination across multiple people in your organization. At some point in the agonizing process, you say to yourself "Is this industry award worth all of this hassle?" If you're a manager of any sort, and recruiting star people for your team is a priority, then don't shut that application down just yet. Winning recognition from the right places provides more than a fancy logo to add to your letterhead or something to brag about in a proposal, it has a positive impact on your recruitment efforts and makes finding the right people much easier. The only challenge may be too many qualified resumes!
Recruiting Just Got Easier (and maybe even unnecessary)
Nobody likes a loser. Maybe that's too harsh, but it is safe to say that everybody wants to be a winner and play for the winning team. Especially during a recession, job seekers are looking for a place they can hang their hat and be confident they'll still have a job when hard times are over. In addition, many applicants want to know that their new place of work will provide opportunities for growth and, in many instances that requires the company to grow as well. Industry awards are a stamp of approval from a credible third party that confirms your organization is well-run and implementing plans for success. Those working for your competition may also see awards as a differentiator and be quicker to jump ship to work for you.
In a perfect world, you'll rarely need to recruit because your great employees will never leave -- awards bring you closer to that perfect world. When organizations win awards and celebrate with their team, it brings a positive aspect to the corporate culture. Employees get excited and proud of their workplace. They want to work harder for their employer and start to bring in other star employees from their own networks. Now your company will start performing even better, more awards will roll in, and the cycle continues.
Keep it Relevant
As with any business initiative, a specific strategy has to come into play. There are countless awards available that you can chase, but you'll want to do it strategically. Ask a few questions such as: