The value of Long Service Award in increasing employee retention

Categories: Career Ambitions
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Published on: October 9, 2016

Presenting a long service award has long been a tradition in most companies. It’s a highly anticipated event, especially for big companies, as employees across all departments get to gather in a single room. If you’re thinking whether you should push through with your idea of awarding employees, may that be sales awards or performance awards, by all means, just do it. It wouldn’t cost you a lot since these days, trophies and plaques of all sizes and shapes can be ordered conveniently online. Trophy and awards retail businesses online even help you customise the award to ensure it resonates with your brand or company logo.

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Rewarding employees with something tangible

Before, companies would give long service awardees simple gifts such as pens or mugs. However, times are changing. These days, companies think of new ways they can demonstrate real appreciation toward loyal employees. Giving out something tangible such as trophies and plaques has been a common practice. Sometimes, these loyalty awards are even accompanied with personal gifts tailored to the employee’s interests.

This shouldn’t be a complex process if you have been working with your employees for some time already. More or less, you already have an idea what they are passionate about outside of work. For example, awardees who happen to be sports enthusiasts can be given new sports equipment, along with the award itself. These trophies and plaques will turn out to be extra meaningful for recipients since they know that you have exerted effort in learning their interests.

Also, they can keep with them their loyalty awards wherever they go, whether they move to a new home or department. They can even have it displayed on their work desks, if they want to.

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Keeping employees informed about a long service award

A long service award is sometimes forgotten as they’re presented far between each other. It’s not uncommon for companies to only give this out after an interval of 10, 20, or even 30 years. New employees or employees who have been around for only a few years may not be aware of this. Hence, it is important that as you hire employees, advise them as well about the awards they can receive should they stick around. Apart from long service awards, discuss as well other awards they can receive such as sales awards or even retirement gifts. This would serve as a source of motivation for new members of the team.

Recognising employees for staying with the company for several years is one effective way you can show the entire team that loyalty is something you take seriously. Long service awardees get to show their fellow employees that they are not just typical faces they see on the floor every day. They are valued members of the company. The value of a long service award in increasing employee retention is far-reaching as it boosts employee morale as well. If you don’t want to be always on the lookout for a replacement, then consider awarding your employees. Talk to trophy and awards retail businesses online and ask how they can help you further.

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