Long service recognition or tenure awards are a complete waste of money. I advise everyone who has them to stop them and if you don’t have them then for heavens sake don’t start.
People won’t stay in a role unthanked and unrecognised for 5 or 10 years just waiting for a carriage clock or a voucher on a service anniversary. They want to be seen, thanked and recognised for doing great work when they do it, not just for counting the months.
You should start a programme that recognises behaviours that you want to encourage and living your companies values. Make it continuous and in the moment. And remember the golden rule – it’s never, ever, ever the money that makes the difference, it’s the thought that counts. So give cash or gift awards if you want, but don’t compromise on the message. Chapter 7 of the Rebel Playbook is all about recognition,