Incentra Insights

Are service awards still necessary? Yes, but the key is to celebrate performance the modern way. 

Length of service awards are still the most popular component of an employee recognition program in the United States.  However, many companies don’t start recognizing employees until they hit their 5 year anniversary, and that is too long to wait to recognize. Especially since the median employee tenure is only 4.2 years (Bureau of Labor Statistics, January 2018). 

The simple answer is YES!                                                 

Millennials now make-up the largest age group in the workforce; however they are mostly dissatisfied at work. Given the average Millennial stays with an employer for 4.6 years, service awards that only recognize 5, 10, 15+ year anniversaries bypass this large demographic.