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Retirement 'Thank yous'
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April 18, 2000: 1:18 p.m. ET
Gifts become more personalized, but gold watch stands the test of time
By Staff Writer Jennifer Karchmer
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NEW YORK (CNNfn) - When Bob Gerson, former editor-in-chief of the consumer electronics magazine TWICE, received a metal toolbox full of chrome-plated tools at his retirement party this week, he knew his coworkers went the extra mile to buy him a personalized gift.
Gerson, who retired this week after 15 years with the New York City-based magazine, preferred the Bob Vila-type present over the ubiquitous gold watch many retirees receive from their company.
"It shows a level of affection from the crew because it shows that they cared enough to find something that says 'me' rather than the watch that everyone gets," said Gerson, 67, who was known around the office as Mr. Fix-it.
Merci beaucoup
As you approach your swan song at work, you may be presented with a set of golf clubs engraved with the company logo or a trip for two to Japan.
Either way, "companies aren't rewarding people who stay there and do the time," said John Challenger, chief executive officer of, Challenger, Gray & Christmas, Inc. in Chicago. "There's less emphasis on being there for the long haul than being really good at what you do," said Challenger, who tracks trends in the American work force.
"What's happening now is that you're losing dramatically the employees with 40 years of service," said Chuck Field, president of Field & Associates, Inc., a gift supplier in Boca Raton, Fla. "If you looked at the average length of retirement 20 years ago, it's decreasing rapidly."
So as the face of retirement evolves, so too are the gifts that companies present to award their long-time employees. Wristwatches and clocks withstand the test of time as still the most popular gifts. However, industry experts say keepsakes are taking on a more personalized look.
Grazie
Karen Fortner, a spokesperson for Levenger, a gift company that sells leather portfolios and fountain pens, said some executives who celebrate their coworkers' retirement are searching for gifts off the beaten path.
"There's a need to dazzle people and make an impression," she said. "We're seeing executives buying fellow executives monogrammed gifts that can be personalized so it's a special keepsake."
Dark cherrywood-monogrammed boxes are popular goodbye gifts, as are leather folders and envelopes for carrying investment documents and paperwork, she said.
"With the millennium coming on, things have changed a bit," said Tom Patchette, chief executive officer of Beverly Hills International Inc., a gift supplier in Boca Raton, Fla. Patchette receives requests for sterling silver dinner wear, crystal barware and golf clubs.
Danke schoen
Some large corporations reward employees at different points in their careers with a variety of gifts. The companies provide gift brochures in which employees can choose pens, business card holders, company rings and crystal decanters.
Despite the fact that workers today often hop from job to job, many companies still say "Thank you" with traditional keepsakes, like the gold watch or monogrammed desk clock, said Field, in the corporate gift business for 25 years.
But some companies catering to a younger work force don't follow such traditional avenues.
Gracias
Microsoft Corp. (MSFT: Research, Estimates), for example, which was started in 1975, doesn't have an official company program offering retirement and other landmark gifts, according to spokeswoman Kimberly Kuresman.
Instead, Microsoft employees who work in teams on special projects often organize informal gatherings to celebrate deadlines and employee departures, she said.
"It doesn't make as much sense for the technology industry (to have an official retirement gift policy in place)," Kuresman said. "It's so different from the traditional and more established work force."
Challenger points out that someone who retires from Microsoft "is probably a multimillionaire, and giving them a gift would be more of a token."
Domo arigato
So, after years of dedicated service and several promotions later, you and your company celebrate your retirement with a five-course dinner at one of the town's fanciest eateries. You're asked to make a speech as you're shoved on stage, red-faced yet proud.
Afterward, you receive a gold timepiece and a pat on the back.
"The traditional gifts, though, they're always going to remain," Patchette said. "There is still a major push for watches and clocks." 
-- Click here to send comments about this story to Staff Writer Jennifer Karchmer.
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