Giving Credit Where Credit is Due

Business Success through Recognition

It’s no secret that woman-owned businesses are some of the fastest growing in the world. Today, there are more than 9.4 million firms owned by women. Some might say the secret to their success is because of tax breaks, government policies, and warm economic growth climates. While these things do help woman-owned businesses to accomplish big things, they are not the only reasons so many companies are finding lasting success. Many female entrepreneurs also believe it is through partnerships and the people they work with that helps businesses grow.

Women aren’t afraid to talk and network with friends, former teachers, and other professionals. They create support networks and give recognition where it is due. Some of the most successful businesses founded or ran by women use recognition as a way to strengthen their relationships with business partners and employees.

Red Velvet Events in Austin, Texas, is a woman-owned event planning company. For more than 13 years, they have planned unique events and celebrations. They also have a unique way of showing staff appreciation. A small plastic troll named Pockets is passed from employee to employee as a token of recognition and thanks. Each week, a team member gives the doll to another employee and describes how he or she has positively influenced projects throughout the previous week. This quirky tradition not only reflects the company’s fun-loving culture, but it also ensures the people who are working hard to make their event planning business successful are consistently recognized for their hard work.

Recognition is about more than just funny troll dolls and playful accolades at Red Velvet Events. They also make use of a formal recognition program. Using web-based recognition software, employees at Red Velvet are able to say “Thank you” to other team members by rewarding them points that can be redeemed for gifts. Having a system that allows peer-to-peer appreciation helps strengthen internal relationships and encourages employees to work as a team to bring further success to the business as a whole.

Not only are woman-owned businesses strengthening connections through recognition programs, but so are corporations. Corporations across the globe are rallying the support of women in business. In 1989, Marriott International became the first in its industry to establish a diversity and inclusion program as a way to encourage business growth through the hiring, training, and promotion of female employees. According to the National Association for Female Executives (NAFE), Marriott International is now one of the top companies to prioritize the retention and promotion of female employees at all levels of their organization.

For 30 years, Marriott International has hosted the Marriott Awards of Excellence, Marriott International’s employee recognition program honors its top associates worldwide. The awards were established to pay tribute to company founder J. Willard Marriott and have since expanded to recognize not only individuals but also teams for outstanding community service, diversity and inclusion, culture and well-being initiatives.

Many woman-owned businesses are succeeding because they give credit where credit is due. They reach out and support their partnerships and fellow businesswomen. Other times, they are reaching up and taking advantage of benefits and recognition offered through their employers. Many corporations are beginning to create diversity and inclusion programs that promote women’s success in business. They are also creating employee recognition programs that help inspire employee creativity, improve productivity and lower staff turnover.

Levy Reognition is a woman-owned business. We understand the importance of supporting fellow business leaders to achieve success. We offer services and programs that help businesses create effective employee recognition programs that apply to all employees and help to motivate the entire staff to achieve business success.

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