How Do You Motivate Software Engineers with Monetary and Non-Monetary Rewards?

Hi All,

Can anyone provide inputs for the following queries? It would be helpful for drafting policies for my organization. All the questions are related to the software industry, so relevant replies would be appreciated.

1. What are the monetary rewards given to employees other than salary?
2. On what basis are bonuses/incentives given to software engineers? Is it based on performance or a fixed amount? How is it calculated - on the gross salary or basic salary?
3. Apart from monetary rewards, what are the non-monetary ways to motivate employees?

Looking forward to your prompt replies.

Thanks & Regards,
Revathi V.
HR Executive

Dear Ravathi,

Here are some ways to enhance employee benefits and recognition at our company:

- Subsidized lunch/breakfast
- Spot rewards for good work; these could be in the form of a silver coin, movie tickets, or any gift item that employees can store and keep.
- Free transport/passes
- Mobile reimbursement through corporate plans
- Birthday celebrations: designate one day of the month to celebrate all employees whose birthdays fall on that day. Depending on the company size, consider giving a greeting card and a small gift to each employee.
- If an employee overstays for work beyond a certain number of hours, allow them to have some snacks (set a limit).
- Employee of the quarter or month: collect suggestions from all employees by setting up a dropbox for a secret ballot to vote for the outstanding employee.
- Monetary rewards: departments can be given team tasks with an amount allocated towards the achievement of those tasks (the amount depends on the HR budget) to be released within six months.

Regards,
Priya

Hi,

Bonus for Software Engineers should be paid based on project objectives such as timely completion, compliance with project budget, quality of deliverables, people management, and adherence to project-related skills, among others. These objectives should be well-defined and may vary from one role to another.

Regards

Hi All,

Can anybody suggest some good names for the award which we started from this financial year. At least 4, please...

Regards,
Swetha