Comprehensive Insights on Reward Policy, Employee Referral, and Recognition in HR Practices

Dear All,

I need a reward policy to implement in a manufacturing company. Kindly send me a draft or information for the same. [Login to view]

Well, if you can tell me the types of awards, I mean, what all awards we can offer to the employee, then also it would be great.

Thanking you all in advance.

Regards, Anupama

Hi,

You can motivate employees by giving recognition, gift certificates, training, arranging special events, cash awards, and other variables.

Regards,
Deepa

Hi, my name is Hari, and I am new to this group. We are finalizing a reward policy for one of our group companies, so please forward me a copy of the same via email. My email ID is akhkumar@rediffmail.com. I am looking forward to your prompt response.

Dear Harsha,

I believe it's better if you post this directly on Cite HR rather than emailing everyone. If posting directly is not possible, please email me at [IMG]https://www.citehr.com/misc.php?do=email_dev&email=c2hhbGluaXNiaG F0bmFnYXJAZ21haWwuY29t[/IMG].

Thanks in advance,
Shalini

Dear Harsha,

Can you send the parameters for designing the reward policy to me also? I have a task to design the policy for R&D employees, typically scientists and PG engineers. This is really giving me a tough time.

Thanks and Regards,
Manasi Puntambekar

Hello Harha,

While going through the article, it seemed to be a different and knowledgeable topic to learn and understand. May I request you to forward the same to my email address: raginimdeshmukh@yahoo.co.in?

Thanks and Regards,
Ragini M Deshmukh

Hi
exactly we dont have reward policy , but i have posted Refferal reward policy have a look, if it is useful, make use of it..
REFFERAL REWARD POLICY

Objectives

• To shorten the cycle time to select and recruit required manpower, our own employees are to be considered as potential channels.
• To reward our employees who refer the right candidates and facilitate in recruiting them to meet our growing demands for manpower.
• To reduce the cost of manpower recruitment and enable internal employees to build / add / contribute to development of effective teams and to attract excellent skills / resources
• To guarantee productivity and longer stay of the referee in the organization.

Applicability

• All regular full time employees / Trainees (including those in F.T. and P.T. phase ) are eligible for the claim of the reward, with the exception of the following associates belonging to the following departments.

a) HR Recruitment
b) HR Post recruitment
c) HR –IT recruitment and
d) Heads Of Departments (H.O.D.'s)
Operative Guidelines

• The title of the policy is " Employee Referral Reward Policy”.
• Reward is for every successful referral, which results in the actual joining of an individual.
• Referral reward will be paid to the referrer only after 60 days of completion of service by the referred employee.
• An employee / Trainee is encouraged to make as many references as possible. The names of the referrals will be announced /communicated to the respective departmental heads upon approval received from HR Recruitment dept.
• The one time reward will be paid by cheque within 15 days after completion of the eligibility period.
• On the date of payment of reward, both, the referrer and the referee should be on the rolls of the company.
• The referral reward will be paid on the 25 th of every month.

The Referral Reward details:

• All rewards are subject to income tax deductions as per the Income tax Act.
• The referrer should write his or her Full Name/ID number/Designation/ Department at the top of the referral's resume with signature and forward to Human Resource Recruitment dept. Recruitment dept would endorse and process the resume. If two or more employees refer the same candidate, the reward amount will be released to the employee who submitted the resume first to HR recruitment dept. In the event of a dispute the decision of Recruitment dept will be final. Human Resources Recruitment department has the final decision regarding any issues under this policy
• HRPR department will receive a monthly statement of referrals authorized by recruitment dept and accordingly notify Accounts on or before the referral completes 60 days of service (from his / her date of joining) in the organization to release the reward after ensuring the policy compliance.
• Employees are expected to reckon this policy in such a manner that the efforts put in by them do not hinder or compromise their commitment to work / job in any way..
• The above reward scheme cannot be claimed as right.

The above reward can be withdrawn without any notice and at the discretion of the Management.

Hi everyone,

We have a reward policy for our employees who are paid if their referral is successful. The policy is as follows:

We have levels like M1 - M7 (Managerial cadre) where M1 is the highest cadre and M7 is the lowest, and A1 - A4 (Administrative cadre) where A1 is the highest and A4 is the lowest.

The employee would be paid based on the grade in which his/her referee joins.

The rewards are as follows: (All figures are subject to tax)

A1 - A4 cadre -> 10,000/-

M6 and M5 grades -> 25,000/-

M4 and M3 grades -> 40,000/-

M2 grade -> Rs. 50,000/-

Employee referrals are not accepted for M1 grade as they are decided by the Group Executive Committee.

The employee will receive the referral bonus only after his/her referee completes 3 months of service in the company.

This reward scheme is applicable only to full-time employees in the company.

The reward scheme is not applicable to the following:

1) HR Department

2) HOD's (Functional heads and heads of departments/sector heads)

3) Contract employees

4) Probationers

5) Trainees

6) Full-time/part-time Consultants/advisors

Friends, please reach out to me in case of any doubts, clarifications, or suggestions, if any.

Regards,

Harsha.

You have lots of options:

- Best Idea
- Kaizen
- Cost-saving
- Hygiene
- Best Employee of the month, quarterly, yearly
- Etc.
- Nitai

Hi Harsha,

Can you please send a copy to me? I am pursuing an MBA from Pune, and I am currently doing my internship on compensation benchmarking. I have also sent you a friend request.

Regards,
Sweta Sinha

Hi Anupama/Priya,

Please find herein enclosed the Reward & Recognition policy, and I hope you will find it useful.