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Long Service Awards – The clock takes time into its own hands!

January 27, 2012 By Darren Tracey Leave a Comment

As the UK employment market prepares for yet another year of turmoil it is no wonder so many companies are redundant to rewarding and recognising employees for their length of service. A recent article in Employee Benefits Magazine titled ‘Long Service Awards still have value’ highlighted the current need for effective Long Service Awards (LSAs) and argued that the carriage clock does not have to die off however, it does need a makeover.

LSA’s are still considered one of the most important forms of recognition for staff loyalty, acting as the foundation for most company’s ever growing reward and recognition programmes. Many organisations have taken the opportunity to modernise their company’s image through effective use of LSA’s in order to ensure that their rewards remain current, effective and valued. [Read more...]

Filed Under: Heading, Recognition Tagged With: length of service, Long Service Awards, staff loyalty, staff recognition

When will the public sector come up to date with Long Service Awards?

November 7, 2011 By Darren Tracey Leave a Comment

New research finds huge discrepancies between public and private sector recognition of employees for their length of service.

According to research that our voucher division (The Voucher Shop) has recently undertaken, there are significant differences not only in the length of service that is rewarded, but also wide variations in the values of rewards between, and also within, the two sectors. [Read more...]

Filed Under: Recognition Tagged With: awards, Engagement, long service, Recognition, staff recognition

Financial Staff Rewards – Don’t put your money where your mouth is!

September 23, 2011 By Darren Tracey Leave a Comment

The economic recession has become the bane of most people’s lives, making it compulsory to cut costs, decrease financial bonuses and question each time we open our wallets. However, despite the daily drone of how much the recession has hindered our spending the tighter financial reign has enabled businesses to step out of the conventional box of motivation solutions and get creative. [Read more...]

Filed Under: Recognition Tagged With: Engagement, Financial Rewards, Motivation, Recognition

The Number 1 reason employees leave a company is from lack of recognition

July 19, 2011 By Carly Sunderland 1 Comment

A recognition scheme can help you to improve retention and morale by giving your employees a sense of belonging and a feeling of actively contributing to the success of a wider team.

The Number 1 reason employees leave a company is from lack of recognition

A recognition scheme can help you to improve retention and morale by giving your employees a sense of belonging and a feeling of actively contributing to the success of a wider team.

A well thought out recognition scheme can help you to:
• Reinforce employee actions to mirror company values
• Promote your brand
• Foster a sense of belonging and a recognition culture
• Reduce recruitment costs – the average cost per employee currently stands at £8,200
• Empower line managers to award positive behaviour
• Improve customer service levels – For every 1% increase in staff loyalty a 0.5% increase can be seen in customer loyalty – Study by Harvard Business School
• Create a more productive team
• Reduce attrition

A good recognition programme will include awards and merchandise incentives, rather than simply cash bonuses. Cash incentives could cost up to 6 times as much as non-cash incentives and provide similar results. Over time employees come to expect cash incentives and as such, rather than recognising performance that goes above and beyond the norm, cash incentives lose their value over time.

Filed Under: Recognition Tagged With: awards, incentives, Recognition, Reinforce, retention
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