Do traditional years of service rewards still matter in the current labor market—and how can they be made more relevant and meaningful? This important question is addressed by Steve Damerow in an article published in Premium Incentive Products.
Steve states emphatically that the “gold watch” mentality has got to go. This tradition entails that all employees get the same prize (the gold watch) when they reach certain milestones, usually 25 years of continuous employment. This won’t fly at all with the vast majority of today’s workers. In fact, this type of clichéd award can backfire and even be seen as insulting and condescending.
Instead, he advises that offering a wide choice of rewards is essential. Employees should be treated as individuals and given a chance to celebrate this individuality by selecting an award themselves. The younger generation wants and even expects to have a choice from among thousands of items—and then be able to share that choice with their peers.
You can learn more valuable strategies by reading the full article.