Information about R AND R

Published on August 6, 2014

Author: yashodhayashu

Source: authorstream.com


REWARD AND RECOGNITION POLICIES: REWARD AND RECOGNITION POLICIES Presented by K.YASHODA INFOSYS : INFOSYS The basis for giving rewards in Infosys is through 360 degree performance appraisal system. To motivate contributions to and the use of the Knowledge Management (KM) system among employees, Infosys created a reward system based on “knowledge currency units” (KCUs ). Infosys is using performance based approach to give stocks to their employees and uses this as an effective tool to enhance the performance of employees. HUL: HUL HUL give monetary and non- monetary type of rewards . Parameter for rewarding employees is mostly on the basis of their performance about 70%. On the basis of accuracy of work is 20%, and on the basis of new ideas 20 %. schemes use in HUL SOM: This is a performance based award. Rating of the employees is done on the grade basis. This is monthly awarded Customer Delight: This is a performance based award. An employee has to deal with internal and external customer both. PowerPoint Presentation: A-T Book: All achievements of the employees can be talked in this monthly book & gives them recognition . SAQ: This is a performance based award, Rating system is required. These grades are given on the basis of achievements of targets, best five should be selected. This is a quarterly award TOTB: This is the way of idea/suggestion management. On the Spot Award : This award can be given to the employees for their on the spot attitude towards some particular situation TCS: TCS TCS follows a model Economic Value Added (EVA). It is an integrated management process aimed at achieving long term goals, instead short term. ECONOMIC VALUE ADDED (EVA): It is a single, value-based measure that was intended to evaluate business strategies and to maximize long-term shareholders wealth. Rewards such as bonuses from the attainment of EVA target level are usually paid fully at the end of 3 years PowerPoint Presentation: Through EVA-linked compensation, employees could claim stakes at three EVA levels. They are At the organization level At the business unit level At the individual level Organizational EVA: Employees can come to know the company’s performance by the public medium, which are authenticated. Unit EVA: Employees will be able to get the details of their unit’s performance from the company’s reports. Individual EVA: It is based on the appraisal process, which is done by the senior. Unlike other methods, in EVA model, the employee is initially intimated about the key drivers by which he/she can contribute or add value to the organization’s and unit’s performance. It will be measured accurately. American Express: American Express American Express has an appreciation tool called eThanks . eCards , eButtons , and air Thanks are social networking tools that create great work conversations. They require no approvals and there are no limits to recognizing. Prepaid Cards given as gifts or awards provide employees with an ongoing reminder of their success and appreciation: • Gifts: including bonuses, gift exchanges or team building contest prizes • Timely Events: such as custom designed anniversary or retirement cards • Awards: customer service, employee of the month or department recognition Qualcomm: Qualcomm Qualcomm offers restricted stock units to employees. All employees, including those who are non-exempt, receive Qualcomm stock awards when they are hired as part of the job offer package. In addition, employees are eligible to receive on- going stock awards every six months as part of the semi-annual review cycle . At Qualcomm all employees are eligible to participate in Qualcomms Employee Stock Purchase Plan (ESPP). PowerPoint Presentation: The program enables participants to contribute between 1% and 15% of their salary through regular payroll deductions and use that money to purchase shares of Qualcomm stock twice a year at a minimum 15 percent discount Intel: Intel Intel equity program is unique in that it touches employees at all levels and seeks to share the company's success and wealth creation across its employee base. Intel has offered its employees a broad-based stock program . Intel employees acquire a stake in the long-term growth of Intel and can potentially benefit from the capital appreciation. Deloitte: Deloitte Appreciation is acknowledged through : Applause awards Outstanding performance rewards Service anniversary awards

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