We have designed employee loyalty bonus program to attract & retain the employees working with us for a long term.
Plz go through the attached file containing the program features, benefits & conditions and suggest corrections and / or modifications if any. Also plz suggest any other alternate provisions, benefits similar to this program.

From India, Visakhapatnam

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Loyalty Bonus is the the one is paid or payable to an employee for the contribution i.e. length of service he is put in. This is a type of retaining strategy a company can adapt.
In my opinion this must not be clubbed or introduced as an alternate to payment of "(statutory) bonus". Some companies pay Bonus to employees even if they exceed the statututory limit (of Rs.10,000 salary).
Now, bringing a new system of "loyalty" Bonus is something a different approach to keep an employee for a long time. By introducing or proposing to introduce this system will not yield any big results.
I have introduced a loyalty Bonus system, have a look at it.

From India, Madras

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File Type: doc Loyalty Bonus scheme - usable.doc (47.5 KB, 1246 views)

Is this scheme open to all , or by invitation only. Is this amount considered in CTC? Kishor
From India, Pune
Dear Team, Can any one support on the content of announcing loyalty bonus in the company as their benefit
From India, Gurgaon

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