Reward and Recognition Policy

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Reward and Recognition policy
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Index

• Aim of the Policy
• Why we need reward and recognition policy?
• Who all it includes?
• How to create an effective reward programme?
• Why to reward employees?
• How to reward employees?
• Types of incentive
• Nomination and selection

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Aim of the Policy
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Why we need reward recognition policy?

• To have a systematic approach towards the
  appreciation of rewards, there is a need for
  reward and recognition policy.
• In attracting and retaining talent within the
  organization
• Acts as a morale booster
• Promotes 3 P's i.e. Productivity, Positivity, and
  Promotion
• Builds up motivation in the workplace

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Who all it includes?
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How to create an effective reward system?
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Why to reward employees?
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How to reward employees?

• Monetary incentives
• Non Monetary Incentives

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Monetary Incentive
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Non monetary Incentives
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Some more non monetary Incentives
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Nomination Process
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Continue.......
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Selection

• Selection Criteria
• Selection criteria must be documented as part
  of the Employee Reward and Recognition Program.
  The Finance department may designate an
  individual or committee, working in conjunction
  with the Human Resources Representative, to
  develop specific award standards and selection
  criteria, and to nominate or select award
  recipients.