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POLICY ON EMPLOYEE REFERRAL
1. Objective:
To state the procedures and guidelines for rewarding those employees of XYZ who help identify and attract suitable and competent talent, irrespective of the industry, in order to meet our resource requirements at an optimum cost.
2. Eligibility:
2.1 All employees including trainees on rolls of the companies are covered under this policy.
3. Procedure:
3.1 Employee may refer individuals who fit the specifications given in job descriptions for vacant positions which Human Resources posts from time to time. In case the resume is already available in the data bank, the referral process will be terminated at this stage.
3.2 The employee’s role will be limited to the submission of the resume of the candidate. After this the regular process of short listing and interviews will be applied to the referrals also.
Note : The employee making the referral will not in any way be involved with the interview or salary fixation of the candidate.
3.3 A referred candidate if selected in the company, results in the employee being eligible for a gift voucher as per table in Clause No. 4
4 Reward:
4.1 Points will be allotted to the employee for every selected candidate as mentioned below,
Candidate Level Points
Vice President & General Manager Twenty Five (25)
Senior Manager Twenty (20)
Manager Fifteen (15)
Assistant Manager Ten (10)
All Others Five (5)
4.2 These points will be accrued by the employee after 6 months, provided the candidate referred is employed with the company for three months. The employee will lose all points if the candidate leaves the company before completion of 3 months with the company.
•For an employee to be eligible for a reward he/she should have accumulated a minimum of 5 points during his/her tenure at ZTE
•Points will be translated into the following rewards
Points Reward
05 - 09 points Cash voucher worth Rs. 1500/-
10 - 29 points Cash voucher worth Rs. 6000/-
30 - 49 points 2 nights and 2 days (for two) stay in Hotel any where in India (Standard class) except Kolkata, New Delhi and Mumbai. / Cash voucher worth Rs 15000/-
> 50 Points 4 night and 4 days (for two) stay in Hotel anywhere in India & Nepal (Standard class) / cash voucher worth
Rs 20000/-
4.2.2.1The reward has to be one corresponding to the points accumulated. The employee is, however, not allowed to split the points into multiple rewards in the lower-point categories.
For example, an employee with a score of 39 points is entitled to a reward of 2 nights and 2 days (for two) stay in Hotel anywhere in India (Standard class) except Kolkata, New Delhi and Mumbai. He / she cannot take two gift coupons of Rs. 6000/- and Rs. 1500/-.
Once an employee converts his / her points into the corresponding reward, the employee’s score of points is reset to zero.
Note: The employee has to select the choice of hotel from the list given by XYZ. He/she cannot opt for any other hotel at any other location.
4.2.2.2 Travel: Employees with their companion will travel to the Hotel of their choice as per their travel eligibility in the business travel policy of the company.
4.2.2.2 Lodging: Employees will be reimbursed up to Rs. 1000/- for meals for two and Rs. 500/- (for one). Tea, coffee, soft drinks will not be reimbursed. However, no alcohol will be reimbursed for any employee.
4.2.2.3 Leave: Employees availing the reward will be granted leave as per their entitlements mentioned leave policy of the respective company. No extra leave will be granted over and above their entitlement.
4.2.2.4 All travel, boarding and lodging bills need to be submitted in original to the finance & accounts department by the employee, within seven days of his/her returning from the trip.
4.2.2.5 In case of an employee being unable to avail of the reward due to work exigencies or does not want holidays, the option of converting accumulated points into cash will be available as per the table below. This however needs the specific approval of the concerned Functional Head and the HR Manager
Option B:
Points Reward in Rs.
30-49 points 15,000/-
> 50 Points 20,000/-
Note 1 : Conversion from points to cash will be applicable only once every financial year i.e. March.
Note 2 : The employee will be eligible for the gift vouchers provided the candidate referred is employed with the company for three months.
5 OTHERS
All recommendations made by XYZ employees must come from their personal contacts/connections and not through any recruitment agency.
6 INCOME TAX
Rewards will be taxable as per taxation rules prevailing at that point of time.
7 EXCEPTIONS
Any exception to the above policy will need to be signed of by the Managing Director/ CEO as the case may be.