Dear Madam,
I would like to share some general thoughts on your query.
1. You need to frame this comprehensive policy which has to align and integrate with the values of the organisation, well laid down legal principles on punitive aspects, proven principles and practices of reward and recognition.
Besides, the policy needs to address the organisation specific needs and what is the end results to be achieved.
It is, therefore, the job of an expert professional and the it will be difficult to offer any worthwhile suggestions in the absence of the above.
The punitive policy, apart from being highly compliant oriented on legalities, must embedd progressive disciplining principles and proven practices . It is particularly of great importance to 'Workmen' category out of 1000 total complement.
For introducing , fair and equitable reward and recognition policy, you need to have measurements for 'Standard performance ' for all the categories of employees across the board. The performance above the level of the standard is what generally is sought to be rewarded/ incentivised.
Moreever, the performance which can be regarded as ' beyond the call of duty' also neess to be clearly stated and ranked for reward.
To frame this policy, one needs to know classification and distribution of the total employees- Managerial, Executives, Supervisory and workmen to determine scope , applicability and type of reward/ punishment.
Hope, the above will act as trigger thoughts and help you to move forward.
Regards,
Vinayak Nagarkar
HR and Employee Relations Consultant