Are online contests a good idea for corporates?
Contests & Corporate Behavior
Your corporate behavior should be your worst kept secret. Your organization should pride itself on its internal values while functioning daily within its expected norms.
If your organization is focused on being competitive and innovative, utilizing a contest connects these ambiguous concepts with a tangible demonstration of your core internal values.
- Encouraging New Ideas: Do you push your employees to find creative solutions and bold ideas? (e.g. showcase hackathons and innovation days?)
- Open-minded, Solution-seeking: Do you want your investors to perceive that your company is flexible enough and can find solutions from inside and outside sources?
- Knowledge Investment: Do you want to show that you are willing to invest in gaining information? Showcasing company values in a clear manner reinforces corporate behavior in the minds of employees and other stakeholders. Specifically, a contest or award program can:
- Generate value for stakeholders
- Foster diverse values and teamwork goals
- Promote dialogue with stakeholders
- Collaborate within the industry
Online contests and award programs deliver a positive impact by reinforcing various aspects of your corporate identity and expanding the reach of your organization. When an organization uses an awards program, there is immediately:
- A primary benefit of information gain due to the scope of the contest (whether the entries be text-based, image based or video based)
- A secondary benefit in providing another channel to communicate with different stakeholders.
- A tertiary benefit of showcasing the unique, intangible corporate qualities (i.e. behaviors and values)
Remember that a contest is a powerful communication tool; a public display your organization’s values and is therefore more forthcoming to your stakeholders than you’d think.