1 / 14

Reward and Recognition Policy

The major aim of reward and recognition policy isu00a0to attract and retain the best talent. In order to attract and retain it becomes important to recognize the efforts put in by the employee in terms of performance, attitude, and achievements.

hrhelpboard
Download Presentation

Reward and Recognition Policy

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Reward and Recognition policy

  2. 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

  3. Aim of the Policy

  4. 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

  5. Who all it includes?

  6. How to create an effective reward system?

  7. Why to reward employees?

  8. How to reward employees? • Monetary incentives • Non Monetary Incentives

  9. Monetary Incentive

  10. Non monetary Incentives

  11. Some more non monetary Incentives

  12. Nomination Process

  13. Continue.......

  14. 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.

More Related