How Can We Improve Our Employee Rewards System? Seeking Best Practices for a Manufacturing Company

Hi,

We are planning to enhance our rewards and recognition system. Ours is a manufacturing company with 400 employees. Presently, we have annual excellence awards, stock options, 5S awards, and Best Suggestion awards. We are planning to introduce new rewards like Employee of the Month, spot recognition, etc. I am interested in knowing what the best practices are in this area. Please share your practices.

Regards,
Ramesh

Dear Ramesh,

It's a great thing that your organization is concerned about rewards and recognition. When it comes to rewards and recognition, you should keep in mind that it should be honest, having no prejudice; otherwise, its impact can be just the reverse. It is also essential to take care of the period and have a definite schedule for these rewards and recognition. I am attaching the format of my organization practicing the Employee of the Month.

Sincerely,
Navin Kumar

Dear Ramesh,

Please refer to the attachment as per your need.

Sincerely,
Navin Kumar

Dear Navin,

Many thanks for sharing this. It would be great if you could share the procedure and system of evaluation for objectively selecting the right candidate. You know it is a very sensitive issue.

Regards,
Ramesh

Dear Ramesh,

It is true, it should be fair. What you have to do is prepare an SOP that will brief the Title of the Reward, its frequency, the period of delivery, and the department/employees eligible. You will also have to prepare the nomination form, which will be sent to the HOD of the concerned department. They have to select the names from their department and send them through the nomination form.

You will also need to decide on the jury members who will announce the winner, as mutually discussed.

I hope you now have an idea of it.

Sincerely,
Navin Kumar

Hi,

I am into organized retail business and looking for ideas on types of rewards and recognitions for my retail staff. At the lower end of costing, we need to be innovative with new ideas to keep the staff motivated as well as keep the cost in control. In these inflation times, the most demanding is "cash," but then the quantum is small, hence it becomes ineffective. Please help me by sharing your ideas and what you are doing to keep the ship floating.

Regards,
Shridhar Bhagwat

Hi all,

I am about to circulate the Employee of the Month policy. Could you please help me in drafting a motivational email?

Regards