Years of service recognition programs also known as service awards or milestone awards, have recently come under scrutiny. These awards became common in the early 1900s to help retain factory workers.  In today’s knowledge economy, several may argue that the service award doesn’t make sense. Why are we recognizing someone for simply staying around?

I believe recognizing years of service is even more important today than it was years ago. The Bureau of Labor Statistics found the 2012 median number of years that wage and salary workers had been with their employer was 4.4 years. That’s 7.2 months shy of receiving even a 5-year service award. Employees often aren’t staying around, and most surveys show that approximately 40% of employees are actively looking for a new position. Right. Now.

Years of service recognition programs are best leveraged when they are part of an employee recognition strategy that also includes more frequent forms of appreciation such as day-to-day recognition and peer-to-peer programs. When used together, organizations can create a culture of appreciation that impacts both employees’ tenure and the bottom line.

Here are four pieces of data from recent surveys on employee recognition that provide reasons to recognize years of service.

1. It Matters to Your Employees

“A study by Towers Perrin found that the impact of milestone awards rings true around the globe. Most employees worldwide believe milestone awards show them the company cares about its people.”

Do you know this week is National Police Week? According to the National Law Enforcement Officers Memorial Fund:

"In 1962, President Kennedy proclaimed May 15th as National Peace Officers Memorial Day and the calendar week in which May 15th falls, as National Police Week. Established by a joint resolution of Congress in 1962, National Police Week pays special recognition to those law enforcement officers who have lost their lives in the line of duty for the safety and protection of others." 

Every year, the third Thursday in April marks National High Five Day. We love this holiday! It serves as an important reminder of the power of a high five. This simple gesture can express so much! It’s an incredibly fun and effective way to encourage a coworker, recognize a teammate, or simply say “hey, glad you’re here!” 

We hope you’ll join us on April 18 to partake in some National High Five Day festivities. Here are five ways you can celebrate next week: 

Teacher Appreciation Week is celebrated annually during the first week of May to honor teachers and school staff. This holiday is a great opportunity to recognize the efforts of teachers and the contributions they make in our communities.