Staff retention is a big issue at the moment, regardless of the current pressures like job uncertainty and redundancy, how do you ensure you reward long service in a way that makes employees feel really valued, and what's the right reward?
What works for long service awards?
The days of being handed a carriage clock after 20 or so years’ service are a thing of the past, particularly in our industry. Employees are just not engaged by these sorts of products anymore.
And there are three reasons why:
- they only appeal to a very small percentage of people
- they're predictable
- and let's be honest, they're not particularly useful
So Which Rewards Should You Use?
You'll be pleased to know there's no fixed answer. But when you're deciding which awards to give employees at specific milestones during their time with your company, allowing them the freedom to choose is arguably the most appealing. Let's consider. You have a diverse workforce in age, sex and lifestyle, how would you find something that would suit everyone. The answer is, you can't. So don’t try!
We use AwardperQs at BI WORLDWIDE, our online reward solution we also offer to our clients. But anything that gives the freedom on choice will do. This way it's not the organisation deciding what their employees would like most, but the employee choosing something that suits them and what's happening at that time of their life. However, a word of warning. You musn't forget the personal thank you from the MD, which can arguably be worth more than any 48" TV. No, really it is.