Just succumbed to a fit of nostalgia and bought on EBay a hallmarked silver and enamel long service award badge once issued during the 1950's to qualifying employees of the company I worked for for about 25 years - Distington Engineering Company. The recipients would have received along with the badge probably a framed certificate signed by the Works Manager, a small-ish sum of money and inclusion in a bit of an award ceremony followed by photographs and a nice cup of tea.
The United Steel Companies were nationalised at end of 1960's and became part of the British Steel Corporation. In 1970, long service awards were harmonised throughout BSC and it 'only' needed 30 years service for men and (a discriminatory) mere 25 years for women to qualify to get one.
Maybe pretty useless information for this day and age, but indicative of how it was once very usual - and 'honoured'- for UK employees to remain with the same employer for 40++ years.