The “Employee of the Month” award is an old standby. While it recognizes individuals, it often makes some other employees feel overlooked, mainly because there are no specific standards to meet. At worst, it’s nothing more than a “manager’s pet” popularity contest. Yet studies show that it is critical to recognize employees for their good work. There’s a direct link between employee satisfaction and customer satisfaction, and between customer satisfaction and improved financial performance, studies say. So what kind of recognition will satisfy employees?

More often than not, a simple “good job” or “congratulations” from a peer or supervisor can go a long way. A written thank you or compliment is even better, especially when it’s from upper level workers and it’s genuine and heartfelt. Often tangible rewards lead to a higher level of satisfaction. It’s best to set up a program for recognition that clearly constitutes what is rewardable behavior within the company. For instance, set standards for achievement, then have a rewards ceremony with certificates or employee gifts. Or start a sales competition and offer a bonus or a prize. Rewarding positive behavior is a great way to encourage positive attitudes in the workplace as well as decent or superior efforts in doing their jobs.

Positive reinforcement must start at the top, though it shouldn’t stop there. CEOs and supervisors alike should begin the chain of recognition. Over time, the company as a whole will develop a firm understanding that each employee should participate in recognizing accomplishments and hard work in the workplace.

In a recent Maritz Poll, only 10 percent of 1,000 full-time employees surveyed strongly agree that they are completely satisfied with their company’s employee recognition efforts. What would employees of your company say?

According to the survey of more than 820 large employers and 6,000 soon-to-be college graduates, 72 percent of employers plan to hire college graduates this year, compared to 64 percent last year. And college graduates are feeling confident about their prospects: 82 percent expect to receive at least one job offer by the time they graduate.

So, as an employer, what can you do to make sure that you are at the top of the job pool in terms of recruiting worthy employees?

Start with a plan. Know what you are looking for in a potential employee and what kind of benefits come with the opportunity to work at your company. Benefits do not necessarily mean medical and dental, although those aren’t bad; it can also mean nearby attractions such as lakes or ski resorts, or a discount to a local gym or spa. Capitalize on what you have to offer so that a potential employee will see it as well.

Next, you should bring something new to the table. After setting up an interview, you should be ready to show the interviewee why your company will be unlike any other place where they have interviewed or applied. A good way to do this is to bring a promotional product as an interview gift, such as a custom-printed desk caddy or flash drive. Interviewees will be impressed at your thoughtfulness. And the right products will go a long way in branding your company in their minds as a smart and fun place to work.

Try these two simple tips while showing your enthusiasm for what you do, and those recent college grads should have no problem seeing why your company should be their top choice.