Why Should You Recognize Key Employees with Service Awards?

Studies show that one of the top reasons that employees leave companies is a lack of recognition or awards for the services that they provide and the value they provide. Managers more often than not, do not realize that employee service awards are important.

According to a 1995 survey of 150 executives from the nation's largest 1000 companies, organizations that believe money is an employee's sole motivation will lose some of their best people. In fact, employee service awards and recognition are the most important factor in employee satisfaction.

You probably already award your best employees with attractive compensation packages and job titles. But if you don't recognize them for ongoing service contributions, they will seek positive reinforcement elsewhere. Employee Service and Recognition award programs help retain top performers—despite high work force mobility and historically low unemployment rates. Employee service awards can also help to motivate average achievers to a far superior service.