Employee Retention: How Do You Reward Long-Term Commitment in Your Company?

Dear Connections, In order to curb the attrition rate of employees, does anyone have a policy in place for rewarding employees who stick with the same organization for more than 7 years, 14 years, and 21 years with specific criteria?

Regards, Kumar Iyer
HR Head - SOLAR CHEMFERTS PVT LTD

The period should not be more than 3 years; otherwise, it will not create any impact. The scheme may be:
After completion of 3 years of service, it may be 15% of the 3rd-year CTC.
After completion of 5 years of service, it may be 20% of the 5th-year CTC.
After completion of 10 years of service, it may be 30% of the 10th-year CTC.

Regards, S K Bandyopadhyay (WB, Howrah) CEO-USD HR Solutions