Rewards are given on two counts. One is outstanding performance and second one is doing something innovative on one's own.
As far as former is concerned, how to do you quantify the performance? Unless you measure the performance, it will not be possible to compare one employee's performance with another. As far as doing something is concerned, it could be related process improvement, cost reduction, customer delight etc.
Therefore, please give me little more information about your company. Above all, while measuring the performance, do you measure what deserves to be measured? I ask this question because many times employees are rewarded however, certain vital business performance is never measured. Therefore, reward to the employees should not come at the expense of organisation. This could be the essence of your policy.
19th September 2016 From India, Bangalore
#AnonymousThank you Sir,
We belong to E-commerce industry dealing with loyalty business.
we are startup company, my employee strength is 20
as of now we are in process of making new hr policy.
i want some points from you all to make easy and innovative policy.
20th September 2016 From India, Mumbai
If you are a start up e-commerce company, then your focus should be on measurement of ratios related to warehouse and inventory management. Please do not forget that when Big Bazaar started, they just relied on bring economies of scale. However, beyond a point bargaining power resulting out of volume does not matter. What matters is inventory analysis or demand analysis. Big Bazaar went into losses because of this. Therefore, challenge to you is not to repeat mistakes of Big Bazaar.
As far as e-commerce companies are concerned, many of them have shut shop even before these could take off properly. Therefore, employee rewards are fine but on what parameters those rewards are based matters most. For further query if any, feel free to contact me.
20th September 2016 From India, Bangalore
23rd September 2016 From India, Vadodara
1. You can set a monthly RnR practice to tag the employee with the title of best performer of the month or employee of the month.(Arrange a trophy for internal use (officially) and give it to monthly performer for the whole month so that he/she can put this trophy on their siting area till the announcement for next performer of the month.)
2. Arrange a notice board at the point of maximum visibility area and analyzed the performance and work activity of all employees choose top 5 employees with their ranking and place their names with pictures on notice board.(you can arrange a tea-snacks party and motivational speech by MD and announcement of top 5 employees of the month)
3. You can arrange the RnR on quarterly basis for this track and analyze the work record and performance of employees for last three month and then choose the employees of the quarter.
4. Set a particular day like last Wednesday or Friday of the month or as your company accord to celebrate the birthdays, anniversary and RnR on this day - to celebrate this day you can arrange a cake, some snacks, lunch and a good motivational speech by the MD, Managers and TL or even any of the employees who want to share his/her views for the company growth.
**If you don't want to spend cost on tea-snacks - lunch; you invite the all of your employees for pool lunch in which you ask to all employees to bring the lunch from their homes and take it share with one place with all the company staff including top management!!!! It create a positive connection between employees and management.
Manager - Human Resource *IT Company*
23rd September 2016 From India, Noida