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The long service award is something that is often overlooked by employers today. Once an extremely prestigious accolade, some employers are questioning whether there is any point in giving this award out anymore. However, this is something that should not even be up for discussion, as this award is just as important as it ever has been, if not more so.
The sense or pride and accomplishment that comes with receiving corporate awards will never fade. Awards are designed to recognise that individual’s hard work, and when they have provided this work for a long, long time, the recognition can be even more important. It shows your employee that they haven’t gone unnoticed all of this time and simply become part of the furniture, so to speak.
It should also be noted that long service awards are probably even more valuable now than they once were. In the past, it was common for individuals to stay at the same business for a lot of years. Nowadays, the younger generation switch their jobs a lot more regularly, as they attempt to climb to the top. Business landscape is changing more frequently than it ever has. Doesn’t this mean that we should be even more inclined to reward those who have shown loyalty to our business, especially when this has become so rare?
In addition to this, if your employees are aware that you offer lucrative long service awards, they will see this as an incentive. This may encourage them to stay with your business for longer, which in turn will increase employee retention rate.
All things considered, it is not difficult to see the sheer value of the long service award. If you want to hold onto the top talent, and make sure your employees feel valued, you simply cannot overlook the importance of company awards.