Long-service Awards are like a company’s way of throwing confetti (and cash, trips, or shiny plaques) at employees who’ve stuck around for years—think 10, 20, or even “how are you still here?!” milestones. It’s the “thanks for not ghosting us” celebration, rewarding loyalty with perks that scream, “We see you, we value you, and here’s a trophy (or tropical vacation) to prove it!” Whether it’s a gold watch cliché or a surprise sabbatical, the goal’s the same: turn tenure into a flex, not just a résumé line.
Long-service awards are initially given to recognize the long-term dedication to retaining employees. Such rewards help to increase morale, define the promise of an organization to improve the feelings of value an organization staff. However, the awards can prove to be motivating for employees, who can be further encouraged to stay with an organization. They are recognized by organizations bringing these awards as committed to developing a caring, appreciative workplace. Employees gain at least a feeling of achievement when all their years of effort and loyalty are acknowledged, which ultimately leads to better job satisfaction and engagement levels at work.
Long-service awards will really help employee retention since long-service awards alone make long-serving employees feel much better about staying on the job. Valued employees are less likely to leave the organization, thus reducing turnover and hiring costs associated with such turnover. Moreover, they are instilled with company culture values and affirm an employer’s commitment to long-term service, which later translates into broad employee engagement, employee productivity, etc. Companies that have implemented long-service awards usually enjoy higher levels of loyalty among employees, less absenteeism, and an inspiring workforce. Recognizing long-tenured employees also sets the standard for new hires; it inspires them to think of long-term, satisfying careers in the firm instead of immediate gratification, as was often the case in the old economy.
