PEOPLE’S BANK

RANK 6

NUMBER OF AWARDS 28

SECTOR WINNER

State (1) | Banking (3)

Q: Corporate image, brand presence and awards – how are these aspects interwoven into the ethos of an organisation such as People’s Bank?

A: Corporate image, brand presence and awards are interwoven in any organisation, in that they all contribute to its reputation and recognition in the market. Corporate image represents the values, culture and reputation of an organisation, which can be positively influenced by awards and recognition that showcase its achievements, commitment to excellence, and positive impact on the industry and community.

The brand presence of an organisation is its visibility and recognition in the market. Awards and recognition increase brand presence, by raising awareness of its products and services. It highlights strengths and innovations.

Awards and recognition are a validation of an organisation’s achievements and can help it to build a reputation for itself, boost its image and increase brand presence.

A strong corporate image and brand presence can make it easier for an organisation to win awards and recognition – while awards and recognition can help to build a positive corporate image and increase brand presence.

Clive Fonseka

Acting Chief Executive Officer
General Manager

Q: In what ways do awards and accolades enable businesses to strive for betterment, against a backdrop of economic turmoil such as at present?

A: Awards and accolades are powerful tools that drive businesses to strive for betterment, even in the face of economic turmoil. These recognition-based incentives can provide businesses with a much needed boost in a number of key areas, helping to drive improved performance and overall success.

An important benefit of awards and accolades is recognition, and the prestige it brings. When a business receives an award or accolade, it gains recognition and prestige, which can help to improve its reputation and attract customers. This can give the business a competitive edge over its rivals, making it easier to stand out in the marketplace.

Another key benefit of awards and accolades is increased motivation. This can be especially important in economic turmoil when employee morale may be low and motivation is lacking.

Awards and accolades can also serve as a benchmark for businesses to measure their performance against others in their industry. It helps businesses identify areas for improvement, as well as streamline key aspects such as customer service, innovation and financial performance.

Q: What is your take on the ability of smaller businesses to compete with larger organisations through such schemes?

A: Smaller businesses can compete with larger organisations through awards and recognition schemes, by leveraging their strengths and unique value propositions. Awards and recognition can provide smaller businesses with opportunities to showcase their achievements and innovations, which can help level the playing field, and increase their visibility and credibility in the market.

Q: How do awards play a role in attracting and retaining customers?

A: Awards play a significant role in this field by signalling the quality and trustworthiness of a business’ products or services. Awards also increase an organisation’s visibility and credibility.

When customers observe that a business has been recognised for its achievements and excellence, it creates a sense of confidence in the entity and its products or services. This helps increase customer trust and ultimately drives word-of-mouth referrals.

In a nutshell, awards play an important role in attracting and retaining customers, by increasing a business’ visibility and credibility, building customer trust, and signalling the quality and excellence of its products or services.

“When a business receives an award or accolade, it gains recognition and prestige, which can help to improve its reputation and attract customers

Q: In what ways do awards and recognition schemes help organisations to attract – and more importantly, retain – employees?

A: By awarding and recognising employee achievements, businesses boost employee morale. It makes them feel valued and appreciated. In turn, this leads to increased job satisfaction, motivation and engagement. This results in lower turnover rates and higher employee retention.

Awards and recognition schemes also play important roles in attracting and retaining employees – by creating a culture of recognition, boosting employee morale and encouraging businesses to improve their employee experience continuously.

By recognising and awarding employee achievements, businesses can show their appreciation and help create a positive work environment, which attracts and retains top talent.

Telephone 2481481 | Email info@peoplesbank.lk | Website www.peoplesbank.lk