Employee Recognition and Reward

Policy
'Name of the Company' believes that every employee who has an excellent performance must be
encouraged and appreciated in an equal and helpful manner. The rewards, company passes on to
the employee may be anything but creative, unique, or useful. The responsible team will choose
when and for what reason to appreciate employees with rewards.

Under this policy, every employee who has performed excellently for the (time) with a defined
proof of the same will be rewarded in any way that the 'Name of the Company' feels suitable and
worthy.

Purpose
The purpose of rewarding employees is to stimulate and trigger a spark in employees to
perform greater and greater every time.

The regular recognition of employees without any alteration will help encourage team
efforts, increase organizational value, promote a better culture, and improve peers'
behaviors.

Scope
The Scope of this policy expands to every employee who is on a full-time employment
basis with the company.

Guidelines
1. An employee should be rewarded for significant efforts made towards the
company's profitability in any possible way.
2. Rewards should be meaningful, unique, and creative to the employees.
3. The reward must promote the culture and working environment of the company
4. Rewards should not be any adjustments to the company's salary or other
monetary funds to the employee.

Employee Recognition and Rewards Alteration

'Name of the Company' believes that every employee is equal to them, and every
employee must be gifted equally without favoritism. The company will not allow and
tolerate any kind of bias for employees.

The company will strive to take action against the individual/team who promotes
favoritism and guarantees employees to maintain equality.
Types of Rewards
'Name of the Company' supports the reward category within the listed performance
requirements as follows:

● More than (years) served for the company

● Excellent usage of skillset
● Increased customer success
● Perfect attendance for a month
● Achieving the assigned target before the specified time interval
● Excellent research for an undertaken topic

Reward Guidelines
The rewards and recognitions distributed by the 'Name of the Company' are categorized
according to the following chart:

Reward Value Approval Needed Frequency per person/team Taxability

Non-monetary Manager No frequency NA

reward

Up to ₹100 Manager One per year Yes

From ₹100 to ₹1000 HOD One per year Yes

₹1000 and onwards HOD One per year Yes

○ These rewards do not apply to customary-work expenses like travel, attendance,

conferences, and professional organization memberships.
○ Before distributing the Monetary rewards, the authorized unit must consult with
the Heads and the Human Resource department.

Reward Application Procedure

'Name of the Company' encourages distributing the rewards through a fair means, and
practices are made to collect nominations from every employee of the staff to maintain
equity and quality.

The unit specially formed to look after the employee engagement will take care that
awards are delivered fairly and transparently. They will collect the nominations
throughout the year, analyze them, and distribute them regardless of favoritism.

Rewards Collection Method

To ensure a transparent reward system in the company, 'Name of the Company'
promotes blind voting. The methodology will be carried out as follows:
 1. The votes from the employees will be collected without their names.
2. The voter must be able to explain why he/she choose the respective person into
this.
3. The unit formed will collate the votes and will analyze it.
4. The reward winner will be announced on the date of delivery.

Employee Appreciation Programs

‘Name of the Company’ defines various programs other than just monetary and Non-
monetary rewards for recognitions of its outstanding employees. Special Employee
Appreciation Day is celebrated which expresses our trust towards their roles and efforts
they have put to make the company stand on a higher platform.

Some of the examples of other Employee Appreciation Programs include:

● Team Lunch
● Endorsements and recommendations
● Time-off or Day-off
● Business suggestions
● Training and career-based rewards
● Gift of health and many more...

At ‘Name of the Company’ we believe that recognition is not limited to monetary

rewards, we happily appreciate our employee through innovative and unique ways
which are different based on the achievements.