In every industry there are many awards events that occur over the course of the year. Whatever the sector much of the entered and winning work is worthy of praise. And certainly the individuals behind the work deserve to have the spotlight shown on them in the presence of their colleagues, coworkers and friends. But…do awards matter?
Do awards generate business for the company? Do they further the career of the individual? Do they positively affect the brand that won the award?
Although the general consensus of those we spoke to is that awards do have value, not everyone thinks awards are the pièce de résistance of success. One of our own suppliers told us “Awards have their value. They are great for recruiting. And maybe for getting your name in the local media. But are they relevant for your business? I don’t think so.”
Others feel the less objective metrics upon which most awards are based still have value. We spoke to one of our long-term clients. He told us, “Awards do matter for two simple reasons. They provide recognition for well-made ideas. And any employee— individual or team — takes pride in being recognized for great work. Secondly, for all the advances in metrics, it remains tremendously difficult for clients to assign a pure financial value to what it is their colleagues deliver. So awards become a bit of a barometer.
Additionally, he claims awards are integral to acquiring great talent which, ultimately, contributes to the success of a business. “There are tons of young, ambitious people who want to put themselves in an award-winning environment. If awards draw better young talent, and that talent enables you to do better work (it will), awards can build your business. They are an indication to a future client that you know how to do your job well.”
So which is it? Alone, awards are, for the most part, meaningless and should never be used in a vacuum as an indication of anything at all.
But, when used alongside hard data and testimonials that reflects on your business as a sound and reliable organisation, they are an important metric to be considered.