I'm now working for the fifth association in my career and I'm in a leadership role for an awards program for the fourth time. I used to love awards programs because they're (supposedly) about elevating excellence and providing visibility to the best a community has to offer. Of course, that was before I came to know the politics of nominations and selection processes and the (sometimes) cattiness of the competition.
But the modern age of associations has seen more than a few awards programs struggle, or become marginalized, or become irrelevant. Why is this?
To be sure, generational turnover has something to do with it. I'm a Gen Xer and I would love to one day be recognized by peers and receive an award. But I'm going to have to care more about it than I do right now!
Competition from the private sector in some communities has certainly become an issue. And entertainment awards have detracted from the credibility and validation that awards programs have historically offered (can you say Grammies?).
Associations, too, have evolved from boys' clubs that often bring very little to the table except support for the people at the top. We now offer a much wider range of opportunities for visibility for a much deeper pool of members and other community participants. That means your awards program had better stand out and shine or it will fade into the ether.
So my answer to my own question is YES, awards programs are worth it BUT they must not be undervalued, underfunded, or viewed as a revenue/profit center. Can you generate a profit from them? Sure! But don't make that your primary reason for having one. Comments, please.