Rewards And Recognition Programs At IT Companies

Hello All,
I'm looking to make a list of all possible forms of 'Reward and Recognition' that are being used in Software Companies. I'd be grateful, if you can let me know of the practices at your company.
Once I collate it, I could share the same, with you, right here.
Thanks,
Joshua

Hello,

First of all you must determine what you want to reward and have categories in terms of competence, initative, behaviours, attitudes, achievements etc. Then decide if you would use monetary or non-monetary forms of reward and recognition.

Rewards and Recognition can come in form of

Letters/mail/memos to the employee concerned and to the entire staff of the organization about the ahievement or behavior etc, eventually this is documented in the employee's file.

You can give day(s) off work if they would appreciate this.

Taiwo

You can publish their names on the notice board or company newsletter.

You can name a conference room after them.

You can give books (addressed to the individual for the particular recognition) e.g. Being the best leader/motivator, best sales person, best dressed lady/gentleman etc.etc.

You can decide to have a quarterly or bi-annual mini programme where people have something to eat and then announce these rewards and recognitions etc.

Of course paying a bonus is one sure way of rewarding good performance.

Hope this helps if I get more information I will contact you again.

Hi Joshua,
We reward our employees on the following basis:
1. No. of projects completed in a set time frame.
2. No. of errors/bugs
3. Client's feedback on same.
4. Punctuality
We keep on monitoring the performance by taking feedback from TL/PM and if it qualifies the above parameters, the employee is rewarded either by a cheque amounting to his basic salary, gifts like books/ momentoes or lunch with CEO.
Let me know what parameters you finalize for your company.
thanks
manka

Hi Josha,

Can you please share the same.