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Service Awards: Simple and Effective Employee Retention Strategy

Service Awards: Simple and Effective Employee Retention Strategy

Dec 29, 2020

Employees are undoubtedly one of the most crucial assets of any organization, especially the ones who have been associated for a long time. But in today’s competitive world, people tend to be more mobile when it comes to their jobs, constantly seeking new and better opportunities. When long service employees leave, organizations don’t just have to deal with the cost of replacing them, but more importantly, they lose out on their valuable industry knowledge and experience. So, that makes it imperative for employers to go the extra mile to retain such employees, and years of service awards are a great way to do that. While some might consider these awards slightly old-school, they are an incredibly effective employee retention strategy. Here’s how:

1. Recognizing loyalty increases tenure

The loyalty of long service employees should be recognized, and there have been various studies that have found a correlation between service awards and increased tenure. An organization that recognizes and celebrates an employee’s career achievement is able to keep them for two years more than an organization that doesn’t.

2. Celebrating achievements drives employee morale

Ask any employee and they’ll tell you that career celebrations allow them to feel like they are being appreciated for their hard work. This plays a crucial role in improving their morale and motivating them to work even harder. And that, in turn, benefits the organization.

3. Strengthens organization’s culture

Service awards also improve employee perception towards the organization. It conveys the message that you are willing to put in the extra work to retain an employee and recognize them and their contribution. That creates a positive environment for everyone and fosters commitment and goodwill.

Recognize your employees’ hard work and time spent at the organization by presenting them with premium-quality service awards for employees. Now, buy service awards online at Classic Achievements. Choose from a variety of plaques, glass awards, clocks and more, all available at great prices!