Study: Best-in-class service awards programs

We recently conducted a service anniversary benchmarking study of 78 Fortune 1000 companies. We received feedback from 93% of those surveyed and have developed a “Service Anniversary Awards Customer Profile” from the data compiled.

This study validated a number of observations we have made within the Service Anniversary Awards marketplace, like the fact that most 0rganizations both value and recognize years of service with formal programs that offer a gift to the celebrant. Often, that gift is one that can be utilized outside of the workplace in a lifestyle environment. It is not uncommon for the gift to carry the corporate identity or the program logo, but that approach is becoming less pervasive within the gift selections available.

It also provided insight into other themes present in current service anniversary programs, such as: 

• Most companies offer an award every five years starting with the fifth anniversary, but increasingly, certain industries are recognizing employees at one and three years.
• Companies typically spend between $15 and $20 per year of service for the gift, but that can vary with some spending less and some spending more.
• The majority of programs feature leadership involvement, including dinner or lunch recognition events, banquets, or team events.
• Inclusion of a certificate, plaque or symbolic gift is also prevalent.
• For programs that offered gifts, the respondents with deep knowledge of the program metrics indicated an average of 85% response rate for the award redemption.