Give Up the Plaques – Contemporary Retirement Rewards are the Rave
Jan 24
As workers move ever closer to their retirement years, they have a lot to prepare for, including considerations of estate planning, wills, Roth IRAs, where to live, and so on. The companies for whom they work should make their very last day on the job even more special with a thoughtful, creative goodbye gift.
Gone are the days when long-serving employees look forward to getting their retirement plaques and handshakes, then walking away. Today, people want a retirement gift that’s practical, usable and represents their decades of service.
So, get out of the rut of handing out boring, old retirement plaques and serving trays. Instead, choose gifts that will not only be memorable, but also used for years to come. For some great retirement gift ideas, keep reading.
The Traditional Retirement Watch
Admittedly, the classic retirement watch isn’t the most creative idea, but it is a gift that you know your employee will use. By giving a long-serving employee a high-quality watch, you’re extending to them a great thank you gift for their years of loyal service.
That said, do not hand out cheap watches as retirement presents. Little sends the wrong message to a loyal former employee than a cheap watch that breaks after a few months of use.
The “Experience” Gift
These days, retirees are mobile. They’re traveling, moving or exploring, and the last thing they want is more “junk.” Instead, give the gift of an unforgettable experience.
An Alaskan cruise, a weekend spent learning how to drive a race car, an all-inclusive vacation down south, a week touring the foothills of Italy, a night out at an incredible restaurant, a weekend spa retreat, a series of flight lessons – these are all great retirement gifts for the retiree on the go.
A Golf Club Membership
A one-year membership at a local golf club can be a great gift for the retiree who loves to golf – it gives them a place to play that first year away from work and shows you care about the person’s personal interests outside of work.
the Gifts You Should Avoid
As you search for a retirement present, remember that there are a few gifts that should be avoided at all costs. These include anything and everything that is branded with the company logo. They may love working for you, but staring at a wall clock emblazoned with their former work logo isn’t everyone’s idea of an ideal retirement present.
Next, you should avoid giving any gift that’s tied to the work environment. That means desk clocks are out, fancy pens are out, pocket protectors are out and really anything related to work at all should be rejected as an idea. You’re celebrating this person’s next chapter in life, not chaining their memories to their current one.
Last but not least, avoid high cost gifts or discuss them with the employee beforehand. The IRS has restrictions in place that will actually tax certain presents above a certain monetary value, counting them as “bonuses” rather than gifts. And though retirement plaques may be awful, at least they’ll never be taxed.