How to Recognize Retiring Employees
Recognizing employees who have faithfully served your company is a great way to promote company morale and loyalty. It gives other employees something to look forward to while also giving them the chance to say goodbye and honor their friends and co-workers properly. Recognition can take many forms, depending on the employee's years of service and job description.
Other People Are Reading
Instructions
-
-
1
Set some policies across the board. Decide whether to recognize retiring employees just the same or based on number of years of service or based on their level in the hierarchy.
-
2
Determine your budget for each level of recognition. Take into consideration how many people your company will have retiring each year and work from there. For smaller companies, you may expect that in some years, no one will retire. Still, it's good to budget some in every year just in case someone decides to retire early.
-
-
3
Have a party or get-together during work hours for maximum attendance by other employees. Since many of your employees have outside commitments such as kids and spouses, it may be trying for them to arrange to attend an event outside of work hours. Make sure to recognize the retiring employee on-site, even if you intend to do a more formal recognition after work hours.
-
4
Give the retiree a memento to take with him--one that's personal but that also represents the company he's worked for. A plaque is a nice formal gesture, or you can be creative. For example, with a larger budget you could purchase a trip for two to some place your company does business. Or, you could choose to send him somewhere you don't do business as a fun gesture that his work is over.
-
1
Tips & Warnings
Speak with the retiring employee to give her options, if you have them. For example, instead of giving her anything that directly benefits her, you could offer to make a donation in her name to any number of causes.
