Seeking information on what levels of awards people are using for service awards and retirement gifts. Do you provide a gift or cash/gift card? Increments of 5 years, what is the dollar value? Are retirement gifts personalized or standard for all?
Any help would be appreciated!
we provide a standard stock item to all 5 yr employees, then with those next milestones at additional 5 yr increments we offer a selection of items (based on our budget of around $10 per year of service - so example the 10 yr items are about $100 values) we use https://www.terryberry.com/ for this program
for our retirement gift we provide one stock item as well - it is a specialty blanket with our campus buildings on it best of luck
Hi, Lisa. We very recently implemented an online points Recognition Program and updated our Service Award program at the same time to $25 per year of service. We found that our previous recognition levels were not as generous as we would like at the highest years of service, and those employees deserve the greatest recognition! We also standardized retirement to the same level of service award, rounded up to the nearest 5 year increment -- if someone retires with 12 years of service with the company, the retirement award amount or points will be the same as the 15 year service award.
Hi, we recognize employees who have completed certain levels of years of service starting with 2 years, then at 5 years and every 5th year after (i.e. 2, 5, 10, 15, 20, 25 years, etc.). We provide the employee with a monetary award through payroll (taxable income) in the amount of $100 for each year of service to the Company.