Continuing with the Joy of Recognition eBook series, Designing and Implementing a Successful Recognition Program, Chapters 5 and 6dive into getting your people involved, asking for feedback, and designing your program based on their input. Find out what your employees want out of their recognition program. 

As we continue to troubleshoot some of the HR issues that came up at SHRM 2014, I have to say I was pretty surprised that so many attendees are still feeling that lack of budget is one of them. I don't want to put Baudville out of business or anything, but I'm here to tell you that some of the best recognition is free or darn near

"I think Tom Hanks said that was really cool."

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.”

If you’re like 88% of companies in the U.S., you have employee recognition programs in place. Most likely, at least one of those programs is dedicated to recognizing employees’ years of service. According to a study conducted by WorldatWork, 90% of organizations with recognition programs honor length of service. You can read the entire study here.  

Years of service recognition programs are an important part of an employee appreciation and retention strategy. By celebrating employees on the anniversary of their hire date, you’re able to acknowledge their time, contributions, and talents. That’s key to getting great talent to stick around!