HRSINGAPORE Community Discussions
Allowances for Long Service Award
Question
Hi Fellow HR Practitioners,
May I know Company practices for long service award?
My Company give the following allowances:
- 5 years: $1,000
- 10 years: $1,500
- 15 years: $2,000
- 20 years: $3,000
- 25 years: $5,000
- 30 years: $8,000
Is the above below market rate?
Look forward to your kind advice.
Thank you.
Kathy
Reply 1
We are in the Finance Industry. Our long service award as follows:
· 10 years: S$1,000
· 15 years: S$1,500
· 20 years: S$2,000
· 25 years: S$2,500
· 35 years: S$3,500
· 40 years: S$4,000
NL
Reply 2
There’s no market rating for these. In the Army, I just got an orange tag for my uniform and a cert.
Now in the private sector, I received $3000 holidays and gold, plus a crystal trophy for 10 years’ service. 15 years might be changed to a branded watch or pen etc depending on the boss.
Dksw
Reply 3
Our company gives:
5 yrs - $500
10 yrs - $1000
15 yrs - $1500
20 yrs - $2000
And so on…. Plus $500 every subsequent 5 years.
Cass
Reply 4
Your current Company Long Services Awards is very premium, and Company had a good budget for it, why not? Below is the example long services awards that you may want to refer and I believe is reasonable to both employer and employee.
- 5 years: $ 500
- 10 years: $1,000
- 15 years: $1,500
- 20 years: $2,000
- 25 years: $2,500
Shirley
Confirmed HR Courses
HR Certification
HR Compensation
HR Workshops
HRLAW® Seminars
FAQs
Community
Training
HR Consultancy Services
Contact