According to research, employees, on an average, change jobs 10 to 15 times during their career. Dissatisfaction with their current employer and higher compensation are thought to be the typical culprit behind these job jumps.
But have you stopped to ask – Why? Go back two generations, and you’ll find many people who have put in over 30 years of service with a single organisation and retired with pride. They feel that their loyalty over the years gives them something to show against all those years of hard work.
While career aspirations have changed with generations, you’ll also notice that there is more driving an average millennial when it comes to shifting jobs.
Is an increased pay the only thing that drives a job change or are people more likely to stick to a job if it has some core conducive factors in place? Let’s delve deeper into the layers of what employees really want!
Job Security Matters…
You’ll see a stark change in career aspirations depending on the age and stage of life.
People in their 20s are more open to taking risks and moving in and out of jobs as it is all about gaining experience for them.
Move to the 30s, when many are typically in the stage of starting a family, people put job security as a high priority in their career aspiration list. Because people in this stage are risk averse, they would prefer to stick to one job and build a career!
Employees Want To Build Their Career…
If your resume shows that you’ve taken seven job jumps in the last ten years, people will be less inclined to hire you knowing that you may jump ship soon. Sticking to a job conveys work ethics like loyalty, consistency and willingness to stay on the job through multiple phases.
Employees Want More Than Just A Job…
What makes people come back day after day to work? It is well-known that most jobs make people work under pressure to achieve their targets. What makes people stay on the job is the work environment and the people. If they feel they are valued, they will want to work longer and harder without anyone telling them to do so.
If they share a great relationship with their colleagues and managers, they are likely to stay on the job longer because everyone knows that it takes a while to build a good rapport and no one wants to easily lose what they have.
Employees Value Benefits More Than Remuneration…
According to a study, 4 in 5 employees want benefits and perks more than a pay raise. They’ll be willing to stay longer to avail these benefits. The temptation from a competitor offering a higher salary will not make them shift base.
All these factors go on to show that people don’t get into a job thinking it to be a temporary factor. The intention is to generally structure career and personal growth around the job. Since this doesn’t come easily for everyone, celebrating tenure with a service award can be an enriching experience for both the company and employee.
Here’s why service awards should be a part of your company’s employee recognition program!
Why You Still Need Service Awards…
Service awards will never be passé… Here’s why!
1. Celebrating Loyalty Makes Employees Stick Longer…
According to research, the Return On Investment (ROI) on service anniversary programs is considerably favourable.
In fact, employees who have their service anniversary celebrated tend to stay on the job up to two years longer compared to those who don’t.
2. It Shows That You Care…
According to Adam Robinson, CEO at Hireology,
“When management takes the time to celebrate important individual milestones, it shows that the company cares about its team, and reinforces that we celebrate individuals for their important contributions to the business”.
Hireology hosts a ‘top secret’ lab coat ceremony for employees who cross the 90-day threshold that includes the Hireologist pledge, champagne and introduction into the Hall of Hireologists!
3. Celebrating Personal Milestones Is A Meaningful Way To Strengthen The Company Culture…
A company with a people-first focus does not leave any opportunity to showcase its culture. Such companies think that celebrating milestones and service tenures is a great way to strengthen both the company culture and employer brand.
Company culture has far-reaching effects on everything from growth to employee happiness to client acquisition.
Celebrating tenure with exciting and valuable benefits can help employees know that the company rewards loyalty and meritocracy.
Get in touch with Engrave Awards & More for Service Awards tailor-made just for your company!
4. It Gives The Newbies Something To Aspire To…
Imagine having someone celebrate their 15th work anniversary the day you join. You get to see their growth path in the company from the time they entered to the time they moved all the way up the ladder. You see them being rewarded handsomely for their loyalty and dedication.
For any newbie or intern, this celebration acts as an inspiration and motivation.
It also sets the bar for peers and colleagues to push harder in clocking personal milestones with the same company instead of leaving midway for another opportunity.
While the company and team milestones are often lauded, service awards for tenures is a great way to celebrate an individual and their contribution to the company right from where they started. It isn’t about a great result in a single quarter or achieving targets on the annual report. It is a celebration of the person’s entire history of contributions.
If you are looking for unique service awards for your employees, get in touch with Engrave Awards and More!