Difference Between Award and Reward

Although both “award” and “reward” essentially mean the same in terms of usage, there are important differences between the two. Broadly speaking, an award is an accolade that a person receives for some specific achievements, accomplishments, or contributions. 

It is often presented in the concrete terms such as trophies, plaques, certificates, or medals which most often are received by an individual or group through some organization or committee based on prescribed criteria or excellence shown in a specified realm. 

A good example can be taken that an employee could get an award of “Sales Person of the Year” for surpassing their sales target. However, a reward is anything that is given as a return for some particular service, merit, achievement, or behavior. 

Rewards are usually considered as incitement to a certain action or result. It may be cash awards, such as bonuses or commissions, or it may be non-cash awards, such as more days of vacation, gift cards, and other extra perks. It is considered that rewarding someone may further strengthen the desired result and even motivate the behavior.

What is an Award?

An award can basically be defined as a prize or the recognition of an individual, organization, or group based on their performance, qualities, or contribution in a given field. An award is a way of saying “hey, great job” and propping someone up to excellence.

An award can come in various forms, for example, in tangible objects like trophies, plaques, and medals. It can also be in the form of acknowledgment like Employee of the Month or even a knighthood (if you’re one of those special winners according to the Queen!). Awards can be coupled with many other incentives like prize money, scholarships, or grants.

If you are in the market to recognize achievements in a meaningful way, it’s worth considering options to buy wholesale awards to ensure you have quality items that suit various occasions. The purpose of an award is to celebrate achievement, show appreciation, and motivate further excellence for the recipient and others. It achieves that recognized quality that brings accolades into the public realm.

What is reward?

Anything which enthuses, makes you feel good or reinforces a behavior is the reward. It is the cookie for the kid who finishes his veggies. It is the “A” after studying all night for the test. It’s how the endorphins flow through after a good workout. It’s the praise given by the boss after doing a great presentation. 

The rush of endorphins soon after a good workout, the praise by your boss after nailing a big presentation, a dopamine hit firing in your brain with every “like” clicked on your latest Insta post. 

Rewards come in all kinds of forms – tangible things, positive feelings, removal of something unpleasant – but they all serve the same purpose, enhancing the probability of repeating the behavior that has led to that reward. 

Rewards make the strongest motivators. The trick is to link them to the right actions and behaviors you want more of in yourself or others.

Key differences between Awards and Rewards

Awards and rewards, while similar in nature, do have quite a few distinctions that differentiate them from each other. An award is, typically, conferred on a person on the basis of very specific criterion-set for exceptionally outstanding achievements. While an award is shown to attract prestige, it forms part of a formal ceremonial process. 

A reward, on the other hand, is actually a kind of motivation, where a person is rewarded, if behavior towards him is adopted, either negative or positive. Awards are given less often and they are more formal in nature as compared to rewards. 

Award was given to an employee who exceeded the annual performance goals from the organization, whereas award was honored for “going miles beyond” in the employee’s portfolio goals. Another differentiating factor is that while an award is generally known beforehand as a motivational tool, an award often comes as an award or even surprise to the person associado .

When do Australians use Awards and rewards?

Australians are quite fond of celebrating accomplishments and giving credit where it is due. Whether it be in the office, on the sports ground, in the classroom, or on the community turf, they use all possible methods to award and reward for a job done well. Did the employee produce results on a major project? 

The very first things that come to an Aussie boss’s mind are attractive bonuses and promotions. In school, great performances on tests and excellent sportsmanship get awarded with trophies, medals, and certificates. 

Everyday heroes like volunteers also get accolades and honors for their community spirit. And it’s not just at milestone achievements; even small things such as gift vouchers, a free lunch, or a simple appreciative pat on the back are made to celebrate.

Pros and Cons of Awards vs Rewards

Awards and rewards both have an honor in recognizing people’s achievements and game plan but both have their own pros and cons. Awards are very good for recognition and prestige to the public; think of employee of the month plaquettes, trophies, certificates of achievements-they have a special glamor and gravity. 

But however, awards can also be seen as a little out-of-date and stuffy. On the other hand, rewards tend to be more tangible and down-to-earth: gift cards, added vacation days, free lunches. It makes concrete benefits and may be a bit more fun and desirable to many people in comparison to a fancy award. 

Without the public recognition component, however, they might not be as effective as making someone feel entirely honored and special for his/her accomplishments.