These days, it's rare for an employee to stay loyal to a single company. As such, when an employee does, he or she deserves some recognition. While there are a number of ways to show recognition to loyal employees, few options are as well-received as years of service awards.
Looking to learn more about years of service awards in 2020? Then read on. This guide has all the information you need.
What are the Benefits of Giving Years of Service Awards?
There are a variety of benefits that come with giving years of service awards. Some of the most prominent of these benefits include the following.
The Receiving Employees Feel Appreciated
One of the biggest benefits of years of service awards is that they help those receiving them to feel appreciated at work. When employees feel appreciated at work, they not only stay, but they also put their best feet forward, turning out the best work possible.
Conversely, when employees don't feel appreciated, they stop caring about their work, giving only minimal effort. In some cases, they might even quit so that they can pursue work elsewhere.
Fellow Employees Feel Inspired
Years of service awards are not only important for those receiving them but for fellow employees as well. When new employees see their co-workers receiving awards from the company, they feel inspired to pursue those same types of awards. They see that the company cares about its employees, and feel compelled to give their all to the company.
No Bias Is Presented
Unlike employee of the month awards, years of service awards carry no bias. They're awarded to each and every employee who has reached a certain level of service with the company. As such, they help to keep employee resentment to a minimum.
Years of Service Award Tips
Giving out years of service awards is a delicate process. To avoid offending employees, you must handle the process fairly and consistently. To ensure that you do, make note of the following tips.
Make Awards Equal from Employee to Employee
One of the most important things to do when giving out years of service awards is to make awards equal from employee to employee. If you reward one employee's 5 years of service with a large pizza and another employee's 5 years of service with an all-expenses-paid trip to Cancun, the pizza-receiving employee is bound to grow resentful.
Now, this doesn't mean that awards need to be exact. But they do need to carry similar levels of value.
Increase the Value of the Award With the Number of Years Worked
Another key to establishing a fair awards system is to increase the value of the award in correspondence with the number of years worked. So, while you may give a certificate of appreciation to an employee who just finished his or her first year with the company, you might give a recreational gift (like a bike or a baking mixer) to an employee who just finished his or her 5th year with the company.
Ramping gifts up in this manner not only shows an increased appreciation for employees who stay with the company, but it also incentivizes employees to stick with you throughout their careers.
Make it Meaningful
When someone receives an award, they want it to feel like an award. The problem with many years of service awards, unfortunately, is that they, well . . . lack meaning. So, when the recipients receive them, they're the exact opposite of excited.
Think of traditional years of service awards: plaques, pins, etc. These awards do little more than remind the recipient that he or she has been with the company for a select period of time (something the employee is surely already aware of). What they don't do is offer any benefit to the employee's life.
The awards you give to employees should be beneficial in one way or another, either by lifting the recipients' spirits, serving a practical purpose in their lives, or otherwise. For instance, instead of giving an employee a non-descript plaque, you could give him or her a commemorative book with notes from fellow employees. The book would carry more meaning than the plaque and so would have a positive effect on the recipient's life.
It's not just the award that matters, but the way that the award is presented as well. In order to make the award as fulfilling as possible, it should be presented with a personal touch.
Perhaps you could have an office get-together at which fellow employees give speeches and say congratulatory things about the recipient of the award? It certainly beats receiving a gift through the mail.
Remember: this is about appreciation. If the recipient doesn't feel appreciated, the award was not a successful one.
If you want to make your employees feel really special, you should consider publicizing their awards through social media, company newsletters, and other forms or correspondence. Seeing that their achievements were substantial enough to warrant far-reaching attention will undoubtedly show them that they're appreciated within the company.
How Often Should You Give Out Years of Service Awards?
While you can certainly give out years of service awards whenever you want, there are specific intervals at which they're typically given. These intervals include 1 year, 3 years, 5 years, 10 years, 15 years, 20 years, 25 years, 30 years, and every 5 years thereafter.
Need Help Instituting Years of Service Awards at Your Company?
Looking to institute years of service awards at your company? Hoping to bring your existing awards program up to date? We here at C.A. Short can help you.
We've helped countless companies to implement years of service awards programs for their employees. Regardless of the type of company you run, we can help you.
Contact us now to get the ball rolling!