8 ways to celebrate long-serving staff
Pat Dalton
COO (and founder) at iGoDirect Group | Fintec Investor | Chairman | Board Advisory | Mentor | M&A Advisor |
Many businesses do not offer an adequate programme of staff rewards for long service. In fact, some don't even offer one at all. Long service schemes often focus on milestones of 10 or 20 years of service, however, employees expect recognition for their first year of service.
It's one thing to know that you need to acknowledge your staff for their long service, but knowing what staff rewards work for long service is something different.
One solution is offering flexibility and variety that enables your team to choose the reward that works for them.
8 staff rewards ideas for long service
Your long service awards should match demonstrate some thought, consideration, and appreciation from the business. Show your staff just how much you recognise their contributions and watch their motivate soar.
1. Merchandise
Merchandise can be a broad spectrum. You may be able to offer your own products, or perhaps things like technology, bicycles, wine, watches or hampers. Getting it exactly right is the challenge.
You need to have a strong understanding of the individual being rewarded to know what they are interested in. Think about what items from that niche would be of value to them.
2. Experiential rewards
Most people love to be rewarded with experiences, and long-service employees are no exception. You may be able to give them access to a VIP sporting event, a spa day, a supercar experience, an animal encounter or even a skydiving experience.
These experimental rewards can also be delivered via a combination of your existing access or provided via, for example by a curated "dinner and a show" that includes an experience (RedBalloon), an event (Hoyts gift card), dinner (GiftaRestaurant) and transport (Uber).
3. Gift cards
Gift cards have come a long way in recent years. While there is still the option to use paper vouchers, they've largely been supplanted by physical gift cards and digital gift cards.
Physical cards function just like gift vouchers but have greater versatility than vouchers. They can be customised, stored for later using Zero Balance, and can be fulfilled by a mail house on your behalf.
Digital cards are a fantastic alternative to traditional gift cards, with the option to be distributed via SMS, email, API, or even QR code. They can be customised to your branding, or delivered from off-the-shelf retailers. Best still - they're instant.
4. A letter of thanks
An employee will feel acknowledged and valued if they receive a letter of appreciation from someone in senior management.
Verbal recognition of their loyalty means a lot, but a physical momento is something they can cherish. It may not be enough on its own, but it can certainly form part of a customer rewards scheme.
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5. Cash
Cash can be a very attractive option for employees and it is easy to give, but there is something you need to be wary of.
Whenever a person receives cash, it is taxed, and it will not feel as special or unique as a non-cash gift. All the anxieties that come with the monthly paycheque can be wrapped up with a cash reward, unlike with a special one-off gift.
Also, cash tends to be absorbed in the family budget, rather than enjoyed by the recipient. Further, if the amount is deemed too small, it may trigger conversations about salary/wages increases.
An alternative to cash that can ensure the recipient is more likely to use and appreciate the reward is to instead load a prepaid visa.
6. Travel
One powerful means of rewarding an employee for long service is to offer them a travel opportunity. You could jet them off for a weekend break in a beautiful city or peaceful countryside retreat - something that has been on their bucket list for years.
This might be fulfilled with a combination of airfares (Webjet), travel gear (Kathmandu), accommodation (AirBnB) and car rental (TripGift).
7. Certificates or plaques
A certificate is a classic physical award that serves as a token of the value or accomplishments of an individual in any context.
A certificate or plaque could stay in the office or go on the mantelpiece at home. Either way, they serve as a constant reminder of the company's positive attitude towards a valued team member.
8. Time off
A well-earned sabbatical can provide staff with an opportunity to take their foot off the gas, recharge their batteries and perhaps even work on some projects of their own.
Alternatively, a tenured employee could be allowed to work on deploying an internal project. This could be something that would have great value but which you are struggling to make the time to develop.
The choice is yours
If you are finding that the options are a little overwhelming, that is sort of the point. Maintaining every element of a catalogue of long service awards by yourself is not a simple task. But this is part of what makes the rewards feel special for your long-service employees - the effort you go to for them indicates how much you value them as employees.
One thing to consider is outsourcing some of it to a trusted company with expertise in certain types of corporate rewards schemes. You could also consider buying multi-retailer products where possible so that staff can choose their preferred options by themselves.
Get started
Need some guidance on how best to progress your rewards program? Contact me direct or visit Rewards Come True.