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Rewards Recognition Policy

This document outlines guidelines for a rewards and recognition program to improve employee loyalty, motivation, and reduce attrition. It aims to recognize exceptional performance aligned with company values. Any manager can nominate individuals, teams, or groups quarterly, biannually, or annually. Nominations are assessed against parameters like customer focus, innovation, accountability, and teamwork. Rewards include cash, gifts, certificates, and recognition. Top achievements are Employee of the Quarter, Employee of the Year, Spot Excellence Award, Outstanding Innovation, Customer Appreciated Performance, Team of the Year, and Behind the Scenes Awards of the Year. Recognition is intended to boost performance and incentivize values-aligned behavior.

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665 views

Rewards Recognition Policy

This document outlines guidelines for a rewards and recognition program to improve employee loyalty, motivation, and reduce attrition. It aims to recognize exceptional performance aligned with company values. Any manager can nominate individuals, teams, or groups quarterly, biannually, or annually. Nominations are assessed against parameters like customer focus, innovation, accountability, and teamwork. Rewards include cash, gifts, certificates, and recognition. Top achievements are Employee of the Quarter, Employee of the Year, Spot Excellence Award, Outstanding Innovation, Customer Appreciated Performance, Team of the Year, and Behind the Scenes Awards of the Year. Recognition is intended to boost performance and incentivize values-aligned behavior.

Uploaded by

adithyaiyer009
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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REWARDS & RECOGNITION

Purpose:
To reduce Attrition Rate and improve Employee Loyalty & Motivation
Objectives:
To provide guidelines to recognize specific, unique, value added and critical
performance incidents within or beyond expected & predefined performance
objectives
To align employee performance and achievements in line with Companys Value
Charters & Mission Objectives
To reward these performance incidents in monetary or non-monetary terms
indicating organizational recognition and appreciation towards the employees
Scope Applicability:
All employees
General Rules:
Nomination: (Individuals / Teams / Groups):
All Managers / Department Heads (along with inputs from Immediate Superiors /
Reporting Authorities wherever applicable) can nominate employees/teams who have
shown reward-worthy performance, behavior, skills or competence.
Periodicity:
Assessments and recommendations can be done on Quarterly / Half yearly / Yearly
basis and one employee can be nominated multiple times in different quarters.
Further spot achievement awards can be recommended during shorter terms of
quarterly basis. For ongoing performance achievements these awards can be
assessed either half yearly or yearly basis.
Performance Management Link:
A special consideration and weightage can be given in PLI (Incentives/Bonus) for
employees winning Rewards & Awards in Appraisal year. This can be an additional
5% to 10% Incentives increase over and above the recommended PLI by Appraisers
during yearly Appraisal process.
Benchmarking Reward-worthy Performance/Behavior/Competence
In order to align employee performance to Companys Values & Mission Objectives,
the standards can be set against the 4 value & mission objectives. Employee
showcasing exceptional examples of following up these values can be considered for
Rewards & Recognition Program.

The 4 Values are

Customer Focus

Innovation

Accountability

Teamwork

Assessment Parameters
Some of the parameters can be listed as under.
EOQ- Employee of Quarter
The Employee of the quarter Award publicly recognizes a staff employee for superior
performance. Have an exceeds rating or better on performance evaluation at the
time of nomination. Have specific or sustained accomplishments that exceed normal
expectations.
Reward & Award:

Cash Reward (Rs.5000)

Certificate of Appreciation (by President)

EOY- Employee of year


Should have been nominated as EOQ atleast twice during the assessment year and
should have been selected atleast once during the assessment year.
Reward & Award:

Cash Rewards (Rs.15000)

Certificate for Appreciation (by President)

Lunch / Dinner with President

Print on the business card for one year as EOY.

Plaque as EOY.

Spot Excellence Award


Contribution beyond expected deliverables / Key Responsibility Areas which benefits
the organization.
Reward & Award:

Gift Vouchers (Rs.2500)

Certificate of Appreciation (by President)

OI Outstanding Innovation
Finding out a creative and innovative ways to improve the
Reward & Award:

Sponsorship for Pleasure Trip.

Certificate of Appreciation (by President)

CAP - Customer Appreciated Performance


Based on mutual or case-to-case basis customer feedback on issues resolved,
comfort level with customer, support provided or any such incidents / behaviors
bringing in significant impact on customers perception and Companys image
building etc.
Reward & Awards:

Gift Vouchers (Rs.500 to Rs.1500)

Certificate for Appreciation (by President)

Sponsorships for specific seminars / exhibitions / trade fares /


conferences etc.)

TOY-TEAM OF YEAR
Based on customer feedback on issues resolved, comfort level with customer,
support provided or any such incidents / behaviors bringing in significant impact on
customers perception and Companys image building etc.
Reward & Award:

Team Trophy (for individual members as well as whole team with each
team members name embossed on the trophy)

Team Lunch / Dinner with President

BAY- BEHIND THE SCENE AWARDS OF YEAR


Based on the Extra-Ordinary Performance of functional support employees (HR,
Finance, IMG and Administration functions)
Reward & Award:

Gift Vouchers (Rs.5000)

Certificate for Appreciation (by President)

Sponsorships for specific seminars / Trainings.

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