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They probably dont realize. If there is a system or tool that gives them this info then acknowledgement is more common, at least with an email or a in person congrats. My company gives bonuses at 5,10,15 etc. My last company used a gift card service and/or a swag type site where you could pick an anniversary gift.
My current employer does a small gift every 5 years. My previous employer recognized career levels / promotions.
I feel like the small gifts based on career advancements was more meaningful to me, but that’s my personal opinion. That’s was the culture of that company, which was a major consulting firm.
It depends on the manager, I had a bigger 5yr celebration than I did for my 20th. This Aug is another one so we will see.