Short History of Financial Tombs

Many professionals, such as bankers and other financial pros, have been displaying plaques and other commemoratives with engravings of their big company’s deal accomplishments in their offices for ages now. These deal toys are used by the upper echelon in the financial world.

The Transformation of Deal Toys

These commemorative trinkets included objects, such as engraved clocks, crystal bowls, and silver plates. Since the Gilded age, different deal toys were displayed in these financial professionals’ offices. However, deal toys started to change in the 1950s with the introduction of easy to mold plastics. And at that time, the commemorative object market shifted toward the use of Lucite tombstones.

Lucite Tombstones

Lucite tombstones are simply tombstone looking blocks of Lucite that has a sheet embedded on it with relevant details of a huge financial transaction. These details normally were newspaper ads’ reprints on heavier paper. The tombstone ads came from Wall Street executives in papers for the announcement deals until the intervention of the federal government.
After 1929, the Securities Act of 1933 took extra limits on financial companies about the way they can promote themselves. Since then, deal toys were the kind of method that banks and other companies used in making financial transactions public.

Eventually, designers learned to embed clear and printed acetate sheets in Lucite. The Lucite was sold in the 1950s in craft kits which gave home hobbyists the ability to encase mementos in polished Lucite, and coin collectors adopted this technique soon afterwards.

New Possibilities with New Techniques

Additionally, this meant that announcements could be applied in various ways besides the miniature or paper of deal books. And furthermore, Lucite tombstones didn’t have to be a block with these new techniques. For example, the principals’ names and transaction details are able to float in thin air. They could also be various shapes and have various textual details to fit each type of design. In the 1960s, banks and law firms created Lucite that encased tombstone ads announcing new partner classes. And by the late 1960s, the financial companies started to commemorate new partner classes with the partnership announcements engraved in Lucite.

One early form of the Lucite tombstone was cut in the form of the Liberty Bell with a realistic looking crack as a finishing touch. Another early form included two brass balls that are suspended in a clear block. With such toys, it was suggested that the financiers and bankers’ ambitions could be encapsulated in forms suitable to each unique accomplishment.

How These Transformation Influenced Today

Deal toys in these types of forms work like that today. Each piece is meticulously designed in the reflection of key players, the importance and nature of a financial deal, and the essence translating into physical form. Acrylic and Lucite can be poured at room temperature; therefore, deal toys can have practically anything embedded on them. Also, these plastics can be made in tons of shapes, thus giving deal toys the ability of being chameleons. From downright traditional to the hottest design trends, the abilities are now limitless in creating deal toys.

Relative Stats and the Benefits of Recognizing Employees

Research by Bersin & Associates has shown that companies recognizing their employees perform beyond and above those companies that don’t, and these companies that perform better have a 31¬†% lesser voluntary turnover rate. This is very important for companies because a lower turnover rate of valuable employees will assist greatly in the growth of the company. Also, a lower turnover rate will save the company tons of money that it would take to hire new employees.

Another great reason why recognizing employees with rewards is crucial for companies is due to the improvement of the team culture. Being in a relationship where one is ignored, run down, or abused will cause the person being harmed to want to end the relationship. This also applies with work relationships. Positive environments lead to great relationships, and a culture full of recognition leads the engagement of employees in a positive manner that will encourage employees to want to remain with the company while at the same time producing lasting impacts on their peers.

Awarding employees will also give them and others incentives to be and remain motivated in their work. These valuable employees will be driven to produce outstanding results for the company. Also, these traits will have infused them with a sense of passion, purpose, and mission. And they will take pride in knowing that their work means something valuable to the company’s goals and values.

Due to these reasons, it will behoove any organization to recognize their valuable employees. Recognizing employees in a great way is a main factor in staying ahead of the competition. Having a great brand is reachable to consumers, but poor customer service will drive customers away. And many times, poor customer service is caused by the company not recognizing their employees. In such cases, employees will feel like the company is not looking out for me, so they shouldn’t do their best for the company. Therefore, many of these employees will do just enough to keep the job which includes inferior customer service, for example.

Better Ways to Reward Valuable Employees

There are better ways to reward valuable employees besides having the “employee of the month” announcement and photo hanging up on the business’ wall. Acknowledgement of a job well done in this way or through other public display is appreciated sometimes by most key employees. However, more beneficial rewards are in order sometimes that will be an incentive to keep up the good work. Also, other employees will be even more motivated to utilized their skills with hard work and perseverance. Overall, this will be a win-win situation for the employees and the company because the hard work and skills of the employees will contribute to more company growth and sustainability.

With all of this said, the following are better rewarding incentives for employees:

  1. Peer to peer recognitions- having other employees to recognize their peers will build and strengthen office relations.
  2. Sharing success stories- during award ceremonies, the manager or higher ups should share the story of success of the employee. Handling out certificates and calling out names are not enough.
  3. A small monetary gift/promotion- whether it’s an appreciation gift/lunch or a promotion, these rewards are always great incentives to keep up the good work as well as encourage other workers to do their best.