retaining staff

It is crucial to regularly acknowledge someone’s hard work and dedication to your company, not just for 5-, 10-, or 20-year anniversaries. As HR professionals, managers, and supervisors, you play a pivotal role in this. However, let’s talk about these tenure milestones; it’s definitely a balancing act between appreciation and insult. Over the years, I have seen everything from substantial bonuses, gift cards, and holidays to company-branded belt buckles (I’m not joking) and cheap paper certificates in plastic frames.

Let’s unpack a few examples of what to strive for and what to avoid at all costs:

THE GOOD

Public Acknowledgment: Tailored annual awards events create loyalty, demonstrate values, and reinforce retention. Providing a sense of belonging among employees is paramount.

Financial Benefits: Provide share options, a pay rise or a bonus.

Gift Cards: A pre-loaded Visa card is much more likely to be used to treat yourself and your family than the same cash value added to your pay that blends with ‘normal’ money. For this reason, a gift card makes you see those funds differently, and studies have shown that these—even if like-for-like in value—are appreciated much more.

Flexible Benefits: Provide perks like extra vacation days.

Meaningful Acknowledgment: Genuine gestures go beyond tokenism and show real gratitude.

THE BAD (and the ugly)

The wrong sort of ‘personal’: A gift that shows you do not know the employee, or (as above) whatever ‘merch’ you have lying around.

Insensitive Remarks: Jokes or comments about being “stuck” can be hurtful. Only some people are comedians – the wrong joke can work against the gesture you are trying to make – let’s leave it to the pros.

Empty Gestures: Offering recognition without substance feels hollow. A heartless thank-you isn’t going to cut it.

No Budget? Don’t do a gift at all!: It’s important to remember that if you choose to provide a gift or financial reward, it should be representative of the milestone and effort the employee has put in to achieve it. If your budget doesn’t allow this, consider a different non-financial direction. A value that doesn’t match the effort can potentially show the employee the opposite of your aim, and that’s an insult to avoid.

Overlooking Contributions: Ignoring long-serving employees’ efforts breeds resentment. Being on top of anniversaries is as simple as using your HRIS for its intended purpose.

Stagnation: Neglecting career advancement opportunities signals a lack of investment in the individual. Don’t expect another 5/10/20 years out of the stagnant employee.

In essence, genuine appreciation is not just a gesture but a powerful tool that can foster a positive workplace culture and enhance employee retention. As HR professionals, managers, and supervisors, it’s in your hands to ensure employees feel valued, motivated, and committed to their continued contributions. Your sincerity and thoughtfulness in approaching tenure acknowledgment can make all the difference.