Employee Recognition Programs and Compensation Strategies
Enhance your company's performance with effective reward and recognition strategies. Learn about various employee recognition programs such as MD's Star, Champions, On-The-Spot Award, and Trainers Reward. Explore the benefits of compensation and benefits surveys, ESOP inclusion, and upcoming timelines for increments, promotions, and ESOP announcements.
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Presentation Transcript
WE DID IT. Reward and Recognition Compensation and Benefits
Reward and Recognition MD s Star: to recognize the leadership talent and demonstrated contribution of employees who by their suggestions, innovation, superior accomplishments or other personal efforts contributed to the efficiency, cost effectiveness or other improvement in operation of the organization, or meeting the operational challenge The Champions: This Award aims to recognize individuals who have made significant contributions and constant efforts towards the growth of business objectives On The Spot Award: Initiative is to recognize employees for their day- to- day efforts that contribute in a special way to their project, department or business unit. Trainers Reward and Recognition: Company came out with a well defined process to reward and recognize the outstanding behaviours of trainer that lead directly to the accomplishments of the Organisational goal
Compensation and Benefits Salary Survey: Company has engaged the services of an HR consulting firm to conduct a salary survey so as to benchmark our salary with that of our competitors
ESOP will be added to this years Compensation Package Illustration: EXISTING STRUCTURE Bonus 100000 10,00,000 Total Package in FY 15-16 1100000 PROPOSED STRUCTURE Components Bonus Value 100000 10,00,000 ESOP 4,00,000 15,00,000 Total Package in FY 15-16
Some Interesting Timelines/ Facts Increments, Promotions and PRP to be announced by Jan, 2016 ESOP to announced by Mar, 2016
