In selecting awards, look for high trophy value, reliable vendors, and short turnaround time. Experienced vendors will help you match the award to the recipient. Whether you choose merchandise, gift certificates, travel, or a combination, you should offer the greatest degree of flexibility possible. Present the awards with fanfare. Whether you're recognizing an individual or a group, do so at a public occasion, preferably in front of peers.
Some companies even use their annual meeting as a platform to acknowledge outstanding performance.