When companies decide to incorporate an Employee Service Recognition Program, or update an existing program, initial steps include:
- Which service milestones to include
- What to spend for each service milestone
- Determine if you will be including any Catchup Recognition
- Set the Budget for your Service Recognition Program
Which Service Milestones to include
Explore and decide which of these service milestone categories you will include in your program. By including all of the following categories, you will ensure that all stages of an employee's career are acknowledged and celebrated. (Use the links below to explore each category)
What To Spend For Each Service Milestone
The amount to spend on each milestone will be based on which Gift-of-Choice Award Package you assign to each milestone.
Select-Your-Gift offers 17 Award-of-Choice tier level packages.
For this step, obtain the price list for all tier-levels. (click here for the Order-form PDF) Use this price list for the following:
- Assign one of the tier-level award packages to each of your included service milestones, beginning at 1-3 Years, and on through retirement.
- The typical company spend, in 2024, ranges from $25-35 per year of service. This means a 5-year award would typically range from $120 to $180, based on our package levels. You’ll want to make your spend for each service anniversary award as consistent and fair as possible, while being appropriate for your demographics and budget.
- Your award assignments may result in a slightly higher or lower cost per year of service than your ideal amount per year. Calculated: Award-Level-Cost divided by the Milestone-year; for example: $120 level for a 5-year award = $24 per year.
- If including Early Service Recognition: After award levels are assigned to each of your service milestones, determine the values to use for any earlier milestones: 1-year and 3-years. For example, for 1-year use the $40 level, and for 3-years use the $60 level.
- For 25-Years and Retirement, consider Special Recognition: In addition to the tier-level award packages assigned to these milestones, consider any special events to help celebrate this important stage in the employee’s career.
- Enhanced Award Presentation Options:
Any of your Recognition Awards can be further enhanced with one of the following options:
Deluxe Certificate Holders & Framed Award Certificates in a Premium Box
See details on these Enhanced Presentation Options.
Consider including any Catchup Recognition
When organizations are setting up a new Service Awards Program, one concern is what to do about any service milestones that were recently missed, before your program starts.This is a very important issue to address prior to setting your budget. See more about Catchup Recognition.
Setting a Budget for your Service Award Program:
After completing all of the above steps, you are ready to set your budget. Establishing a Budget for Your Employee Service Recognition and Awards Program is a crucial step in defining your new Program. Budget requirements should include both the first and second years of your new program. (See Budgeting information here)
Select-Your-Gift's tier-level Award-of-Choice packages include: standard award presentation materials, the award certificate, holding envelope, years-of-service seal, the gift of choice tier-level catalog, online redemption, toll-free ordering and assistance, the selected gift, the gift shipped to the employee (within the 48 US), and a product satisfaction guarantee. It's all included! (see award details)
Click next to continue reading the Guide to Employee Service Awards
Prev: Retirement Recognition Ideas Next: Catch up Missed Milestones
Or, see Service Award Guide's contents (List of Topics) to jump to specific topics
Call now to talk to a Recognition Specialist
call 630-954-1287 (M-F, 8:30 am - 5:00 pm CST),
or
Use the FORM below to request FREE information.
