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MONETARY REWARDS

EMPLOYEE MONETARY REWARDS


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Monetary rewards are given for a variety of reasons. Some examples are meeting sales goals,achieving quality, outstanding performance in a given situation, or delivering a special project.Typical rewards are money in a form of a bonus, trips paid for by the company, gifts from arewards catalog, or services such as cell phone or paid cable.

TYPES OF REWARDS

Selecting the appropriate rewards is vital to any programs success. The goal in choosing rewards

is to select items that will spark the participants interest or feelings, and support the programs

objectives. Effective rewards will both motivate short-term behavior and provide motivation over

time.

VARIABLE PAY Variable pay or pay-for-performance is a compensation program in which aportion of a person's pay is considered "at risk." Variable pay can be tied to the performance ofthe company, the results of a business unit, an individual's accomplishments, or any combinationof these. It can take many forms, including bonus programs, stock options, and one-time awardsfor significant accomplishments. Some companies choose to pay their employees less thancompetitors but attempt to motivate and reward employees using a variable pay program instead.According to Shawn Tully inFortune , "The test of a good pay-for-performance plan is simple:It must motivate managers to produce earnings growth that far exceeds the extra cost of [theprogram]. Though employees should be made to stretch, the goals must be within reach."

BONUSES Bonus programs have been used in American business for some time. They usuallyreward individual accomplishment and are frequently used in sales organizations to encouragesalespersons to generate additional business or higher profits. They can also be used, however, torecognize group accomplishments. Indeed, increasing numbers of businesses have switched fromindividual bonus programs to one which reward contributions to corporate performance at group,departmental, or company-wide levels.

According to some experts, small businesses interested in long-term benefits should probablyconsider another type of reward. Bonuses are generally short-term motivators. By rewarding anemployee's performance for the previous year, say critics, they encourage a short-termperspective rather than future-oriented accomplishments. In addition, these programs need to becarefully structured to ensure they are rewarding accomplishments above and beyond anindividual or group's basic functions. Otherwise, they run the risk of being perceived asentitlements or regular merit pay, rather than a reward for outstanding work. Proponents,however, contend that bonuses are a perfectly legitimate means of rewarding outstandingperformance, and they argue that such compensation can actually be a powerful tool toencourage future top-level efforts.

PROFIT SHARING Profit-sharing refers to the strategy of creating a pool of monies to bedisbursed to employees by taking a stated percentage of a company's profits. The amount givento an employee is usually equal to a percentage of the employee's salary and is disbursed after abusiness closes its books for the year. The benefits can be provided either in actual cash or via
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contributions to employee's 401(k) plans. A benefit for a company offering this type of reward isthat it can keep fixed costs low.

The idea behind profit-sharing is to reward employees for their contributions to a company'sachieved profit goal. It encourages employees to stay put because it is usually structured to

reward employees who stay with the company; most profit-sharing programs require anemployee to be vested in the program over a number of years before receiving any monies.Unfortunately, since it is awarded to all employees, it tends to dilute individual contributions. Inaddition, while profit is important, it is only one of many goals a company may have and is,according to Jack Stack inInc., "an accumulation of everything that happens in the business overa given period of time" and is therefore difficult for most employees to connect their actions to.Stack argued that "[employees] have to be able to see the connection between their actions,decisions, and participation, and changes in [a company's goals]." Like bonuses, profit sharingcan eventually be viewed as an entitlement program if the connection between an employee'sactions and his or her reward becomes murky.

STOCK OPTIONS Previously the territory of upper management and large companies, stockoptions have become an increasingly popular method in recent years of rewarding middlemanagement and other employees in both mature companies and start-ups. Employee stock-option programs give employees the right to buy a specified number of a company's shares at afixed price for a specified period of time (usually around ten years). They are generallyauthorized by a company's board of directors and approved by its shareholders. The number ofoptions a company can award to employees is usually equal to a certain percentage of thecompany's shares outstanding.

Like profit-sharing plans, stock options usually reward employees for sticking around, serving asa long-term motivator. Once an employee has been with a company for a certain period of time

(usually around four years), he or she is fully vested in the program. If the employee leaves thecompany prior to being fully vested, those options are canceled. After an employee becomesfully vested in the program, he or she can purchase from the company an allotted number ofshares at the strike price (or the fixed price originally agreed to). This purchase is known as"exercising" stock options. After purchasing the stock, the employee can either retain it or sell iton the open market with the difference in strike price and market price being the employee's gainin the value of the shares.

Offering additional stock in this manner presents risks for both the company and the employee. Ifthe option's strike price is higher than the market price of the stock, the employee's option isworthless. When an employee exercises an option, the company is required to issue a new shareof stock that can be publicly traded. The company's market capitalization grows by the marketprice of the share, rather than the strike price that the employee purchases the stock for. Thepossibility of reduction of company earnings (impacting both the company and shareholders)arises when the company has a greater number of shares outstanding. To keep ahead of thispossibility, earnings must increase at a rate equal to the rate at which outstanding shares increase.Otherwise, the company must repurchase shares on the open market to reduce the number ofoutstanding shares.


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One benefit to offering stock options is a company's ability to take a tax deduction forcompensation expense when it issues shares to employees who are exercising their options.Another benefit to offering options is that while they could be considered a portion ofcompensation, current accounting methods do not require businesses to show options as anexpense on their books. This tends to inflate the value of a company. Companies should think

carefully about this as a benefit, however. If accounting rules were to become more conservative,corporate earnings could be impacted as a result.

Cash

While incentive program participants often state that they prefer cash to non-cash rewards,research has shown that cash is a poor motivator due to its lack of "trophy value." In a recentstudy conducted by the Center for Concept Development, three of five respondents agree that acash payment is perceived to be part of an employees total compensation package and not as

part of an incentive program. Additionally, cash is quickly forgotten as many participants tend tospend it on everyday items or use it to pay bills. Given that most people do not generally talkabout cash awards, cash programs do little to generate the interest required to create an effectiveincentive program.

Research shows that pay for performance often gives only short term gains, frequently gives nogains at all, and may give reduced performance.

Non-cash rewards

Merchandise and other non-cash rewards are more often perceived as separate from

compensation. Accordingly, non-cash rewards tend to stand out as rewards for performance,which enhances their long-term effect. Branded merchandise and other non-cash rewards havehigh trophy value, bringing greater recognition to the recipient at the time of the award andpossessing a long-term lasting effect that can result in increased engagement in the organizationsgoals.

Gift cards/certificates

Gift cards/certificates are prepaid retail cards or certificates which are redeemed at a later time atcheckout. In general, they are available in two types: (1) cards which carry a major credit cardbrand, commonly referred to as universal gift cards (UGC), and are redeemable at all merchants

accepting the credit card brand; and (2) retailer-specific cards, issued by well-known merchants,redeemable only through the issuing retailer. In the 2005 Incentive Federation Study ofMotivation and Incentive Applications, gift cards were ranked as the most frequently used typeof corporate rewards

Merchandise


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Merchandise rewards can range anywhere from small branded key chains to high-endelectronics. In a 2005 study conducted by the Center for Concept Development, 73% ofrespondents agreed that more stimulating, memorable incentive programs can be built aroundmerchandise as opposed to cash rewards.

Travel

Travel rewards can best be defined as a face-to-face event designed to motivate, either directly orindirectly. In a 2005 study conducted by the Center for Concept Development, 51% ofrespondents perceived that travel is remembered longer than other incentive rewards .

Experiential

Experiential rewards provide program participants with an experience. This form of reward givesorganizations the ability to offer their employees and customers interesting experiences asincentives. Examples might include a seaplane flight and lunch, a two hour horse ride on the

beach, a day of sailing for two, a chance to meet a star athlete, or the use of a party planner for anoccasion of the recipients choice. Experiential rewards allow participants to share theirexperiences with others and reinforce the reward and the behavior that led to the giving of thereward.

Monetary Incentives Purpose

The purpose of monetary incentives is to reward associates for excellent job performance throughMoney Monetary incentives include profit sharing, project bonuses, stock options and warrants,scheduled bonuses (e.g., Christmas and performance-linked), and additional paid vacationtime. Traditionally, these have helped maintain a positive motivational environment for associates

PROS AND CON OF MONETARY REWARDS

Like a child being given a chocolate cupcake and a big hug after cleaning her room, rewards and

recognition can be powerful tools for employee motivation and performance improvement. Manytypes of rewards and recognition have direct costs associated with them, such as cash bonusesand stock awards, and a wide variety of company-paid perks, like car allowances, paid parking,and gift certificates. Other types of rewards and recognition may be less tangible, but still veryeffective. These "non-monetary" rewards include formal and informal acknowledgement,assignment of more enjoyable job duties, opportunities for training, and an increased role indecision-making. Monetary awards are those paid by a negotiable instrument such as cash,
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cheques, money order and direct deposit this type of award also includes any item that can bereadily converted to cash such as savings bonds or refundable gift

PROS OF MONETARY REWARDS

Motivation: Monetary Rewards motivates the employee and make them feel important.Motivated people have an increased potential for success in projects, careers and business

Retention: One effect a good employee rewards program has is a positive impact on employee

retention

Health and Safety: Solid employee rewards programs also have measurable positive effectsboth on safety and workplace health, thus reducing overall health-care costs for both employeeand employer

Engagement: A solid employee rewards program also increases employee engagement in theworkplace, a factor that converts into improved performance and better customer experience

Return on Investment: Employee reward programs provide a concrete return on investment

(ROI). Research has shown that employee recognition and rewards of a nonmonetary basis showa greater return on investment than do cash awards

CONS OF MONETARY REWARDS
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High Risk: Monetary incentives encourage compliance rather than risk-taking because mostrewards are based only on performance. As a result, associates are discouraged from beingcreative in the workplace.

Extrinsic Motivator: Employers also may use monetary incentives as an extrinsic rather than an

intrinsic motivator. In other words, associates are driven to do things just for the monetaryreward versus doing something because it is the right thing to do. This can disrupt or terminategood relationships between associates because they are transformed from co-workers tocompetitors, which can quickly disrupt

Employee Opinion and Sentiment: One of the biggest disadvantages to having an employeereward program is how employees perceive certain rewards -- and, in the case of highlycompensated executives -- how the general public perceives them. Employee reward programsthat receive the most scrutiny are usually within organizations perceived most likely to also grantgolden parachutes. During times of high unemployment rates, public criticism of employeereward programs for executives is elevated

Employee Entitlement: Organizations that implement rewards programs that increase year afteryear risk employees believing they are entitled to ever-increasing bonuses and rewards forsimply doing theirjobs. Human resources best practices definition of employee rewards is moreclosely aligned with rewarding employees who make remarkable contributions to theorganization success. When employees consistently meet performance expectations withoutgoing the extra step or demonstrating commitment, loyalty and motivation, they do not alwaysdeserve a reward. Informal recognition such as an executive's handwritten note of appreciationoften can be more effective than a monetary reward. It also has the potential of minimizing, andeventually eliminating, employees' sense of entitlement.

Inequitable Employee Rewards: Based on the size of your workforce, your organization'scompensation structure and industry, some employee reward programs can be cost-prohibitive.Many employers hand out seasonal rewards such as gift cards to the entire workforce and rewardupper-level employees with substantial bonuses in the thousands This type of employee rewardprogram fosters elitism and a divided workforce Organizational success requires thecontributions of all employees. Another disadvantage of employee reward programs is that theymay not demonstrate the company's commitment to workplace equity.

Employee Reward Motivation: Developing an employee rewards program toimprove employee retention can be problematic, particularly because many

employees cite ineffective leadership as the reason for resigning. An employeerewards program with the intent of motivating workers and reducing turnover canbe costly and counterproductive. Employees who are disengaged or have lowmorale are more likely to choose satisfying working relationships and challengingwork assignments over monetary rewards. An employee rewards program thatbribes employees ultimately will fail, and the company will have very little to showfor its efforts except evidence of poorly spent human resources funds
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Incentives Across Generations

Research suggests that desired monetary incentives differ for associates based on career stage

and generation. Surveys by the American Association .The Role of Monetary and Non-MonetaryIncentives in the Workplace as Influenced by Career.... 2 of Retired Persons (AARP) have shown thatmost workers will work past retirement age if offered flexible schedules, part-time hours, and temporaryemployment.

Problems with Monetary Incentives

Alfie Kohn (1993) argues that monetary incentives encourage compliance rather than risk-taking becausemost rewards are based only on performance. As a result, associates are discouraged from being creativein the workplace. Another argument Kohn presents is that monetary incentives may be used to circumventproblems in the workplace. For example, incentives to boost sales can be used to compensate for poormanagement. Employers also may use monetary incentives as an extrinsic rather than an intrinsic

motivator. In other words, associates are driven to do things just for the monetary reward versus doingsomething because it is the right thing to do. This can disrupt or terminate good relationships betweenassociates because they are transformed from co-workers to competitors, which can quickly disruptthe workplace environment.

The effects of monetary incentives on effortand task performance: Theories, evidence,and a framework for research

The below diagram explains about the relationship betweenmonetary incentives, effort and performance and discuss 4 theories

applicable to this relationship such as person variables

(characteristics of individuals), task variables (characterize the

task), environmental variables (characteristics of the surroundings

of the person performing the task), incentive scheme variables

(characterize the incentive scheme) as well as other variables

related to affect, expectancies, self-interest, and arousal.

Generally, it is thought that monetary incentives will increase effort

and performance; but research has been inconclusive. The more

important question is how monetary incentives affect effort and

performance.


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WHAT IS MOST IMPORTANT IN A RECOGNITION

PROGRAM

TO THE SENIOR MANAGEMENT

TO THE EMPLOYEES TO MANAGERS

INCREASES PRODUCTIVITY SATISFACTIONRECOGNITION NEEDS

INCLUDES EFFICIENTADMINISTRATION

PRODUCES RETURN ONINVESTMENT

CREATES POSITIVERECOGNITION EXPERIENCE

EXCITES EMPLOYEES

IMPROVES ATTITUDES PROVIDES ATTRACTIVE,PERSONALISED AWARDS

CREATES PRIDE

BUILDS LOYALTY ANDCOMMITMENT

PROVIDES TIMELINESS OFRECOGNITION

PLEASES MANAGEMENT

ASSURES EFFICIENCY GUARAN TEES QUALITY OFAWARD

DEVELOPS PARNERSHIWITH WORKFORCE

DEVELOPMENT OF REWARD PROGRAM:

Link behaviors that are to be recognized and awarded to the organizational mission.

Train all the levels of management

Communicate the programs existenceEvaluate the programs effectiveness

GUIDELINES TO MANAGERS

STEPS:

TARGET AUDIENCECHOOSE THE GOALBUILD A BUDGETDEVELOP CRITERIACHOOSE THE AWARDSCOMMUNICATE THE PROGRAMSPRESENT THE AWARDSEVALUATE THE PROGRAMS


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IMPLEMENTATION

Recognition in the form of positive feedback and celebration of achievementshould be a matter of daily management and good business practice. Importantly,all managers are responsible at the local level for contributing to a culture thatrewards and recognizes staff achievements.

Managers of work units will:

Implement reward programs in a manner that is consistent with the principles ofthe Reward , Recognition and Retention framework.

Consult with Human Resources on the development and implementation of rewardinitiatives

Strive to develop a culture of continuous and sincere reward and recognition ofstaff achievement.

Human resource will:

Provide guidelines regarding rewarding and recognizing staffWork in partnership with department in developing reward strategiesOversee the use of reward programsReview and update reward programs in line with best practice and organizationalsuitabilityProcess applicable monetary rewards

FOR EXAMPLE:

Types of R&R Proposed......

The Big Hall of Fame for Outstanding Performance Leadership Excellence Award Best Team Award Best Sales Region The Innovator Award Bright Spark Award Selling Star Award


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Thanks for adding a Feather In Our Cap (External Awards Recognition) Contribution to People Development Buddy Nomination Instant Rewards & Recognition

1. The Big Hall of Fame for Outstanding Performance Type : Annual Award Number of Awards : 10 (Depending on Functions) Eligibility :

All Employees Below HOD Level Should be Under employment for min 6 months Pan India Function wise Award

Categories: (Functions may Depend on your Organizational Teams) Finance, IT, Legal Commercial & Logistics Sales Human Resources

Film & Music Marketing Film & Music Content Digital Events Studios Overall Performer

Evaluation

Individual Performance Management Review Specific Achievements during the year Process Development / Orientation Functional Efficacy

HOD Nominations compulsory on R&R Eligibility Form HR Input in cases of final nomination

2. Leadership Excellence Award

Type : Annual Award Number of Awards : 2 Eligibility :

CEOs Direct Office Should be Under employment for min 1year

Evaluation Department Review & Efficacy

Individual Performance Management Review Team Development Orientation Specific Achievements during the year Contribution to Organizational Development Subordinate Satisfaction through Nominations CEOs Nomination compulsory on R&R Eligibility Form HR Input in cases of final nomination


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3. Best Team Award

Type : Annual Award

Number of Awards : Eligibility :

Functional Teams Evaluation

Target Achievement Department Review & Efficacy Group Dynamics Specific Achievements during the year Innovative Practices & Strategy. Contribution to Overall Organizational Development CEOs Nomination compulsory on R&R Eligibility Form HR Input in cases of final nomination

4. Best Sales Region Type : Quarterly Awards & Annual Award Number of Awards : (1 each Quarter + 1 Annual) Eligibility :

Regional Sales Teams in East, West, North, South ( Depends on the the Geographicdivision your company follows)

Evaluation Sales Target Accomplishments Inventory Control Measures Collection Control/ Working Capital Management Techniques Sales Network Strength

Innovative Sales Strategy Non Traditional Outlets, LFS, Corporate Sales, TraditionalSales.

Department Review & Efficacy Specific Achievements during the quarter Group Dynamics CFO, Sales Head & CEOs Nomination compulsory on R&R Eligibility Form HR Input in cases of final nomination

5. The Bright Spark Award

Type : Annual Award Number of Awards : (1 Each Region)

Eligibility : Only for E-1 to E-3 Grades. ( The junior management level of your organization) Across Functions in Each Region / Zone Should be Under employment for min 6 months

Type : Annual Award

Number of Awards : (1 Each Region) Eligibility :

Only for E-1 to E-3 Grades. ( The junior management level of your organization)


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Across Functions in Each Region / Zone Should be Under employment for min 6 months

6. Buddy Nomination Award Employee of the month

Type : Monthly Number of Awards : 2 Each Region Eligibility :

All Employees of irrespective of Grades & Functions. Should be Under employment for min 6 months

Evaluation Adherence to Policies, Systems & Processes. Self-Motivation & Problem Solving Behavior observed Individual Performance Review Time Management & Attendance Review Team Orientation & Rapport Sharing

Nomination to be done by Staff on Buddy Nomination Form Award Selection would be done based on Staff Nomination, HOD Nomination, HR

Evaluation

Limited Involvement of Management

7.Contribution to People Development

Type : Annual Award Number of Awards : ( 1 Each Region) Eligibility :

All Employees of the organization except HR Team irrespective of Grades & Functions.

Should be Under employment for min 6 months Evaluation

Participation in HR Initiatives Volunteering & Contributing for HR Initiatives like HR Newsletter, TGIF, etc Team & Group Dynamics Process Streamlining Meeting HR Timelines for PMS & Training etc CEO & HR Nomination compulsory on R&R Eligibility Form

8. Instant Rewards & Recognition.

Type: All Rounds. Number of Awards : Depends on Achievements & Motivation Levels shared within teams Eligibility :

All Employees irrespective of Grades & Functions. Should be Under employment for min 3 months

Evaluation


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For Any Achievement or Practice that needs to be rewarded Team & Group Dynamics HOD need to intimate HR in advance to discuss eligibility level & stock check

Forms of Recognition

FORMAL

INFORMAL

EVERYDAY

Examples of Formal Recognition

1. Milestone Service Anniversary Awards (5,10,15,20, 25 years of service)

2. Ideas, Improvement & Performance Awards

3. Service Awards

a) Teamwork/leadership

b) Customer Service

c) Citizenship

d) Innovation

e) Attendance

4. Awards would include:

a) Plaques/Desk trophies

b) Certificates

c) Gifts/Certificates

d) Picture in the webpage


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Examples of Informal Recognition

1) Team Building Retreats

2) Acknowledgement of Dept/Division goals achieved

3) Committee Involvement

4) Project Completion meals

5) Birthday cakes and cards

6) Picnics

7) Staff Appreciation Day

8) Holiday Parties

9) Dress-Up Days

10) Corporate Merchandise

11) One night sponsored at a Disco or Pub ( For individual or Teams!)

A case study on how informal recognition is being used:

Petroleum marketers have used informal rewards to recognize their employees'good works. Chevron ( San Fransisco, CA) keeps a large box, secured with aPadlock, filled with gifts. An employee being recognized on the spot for someaccomplishment is brought to the Treasure Chest by his or her supervisor, whoholds the keys. The employee gets to choose an item from the box, which could beanything from a gift certificate, to a coupon for lunch or dinner, to movie tickets.

Examples of Everyday Recognition

1) Communication & Interpersonal Skills workshops

2) Personal and Professional Development workshops

3) Email Thanks

4) Letter from manager or supervisors

5) Gift items

6) Thank You Notes

7) Verbal Feedback

8) Face-to-Face Thank you

9) Thank you cards (both hard copy thank you card and e-thank you card)!


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Others

1) Performance awards can also include peer-to-peer nominations ( Maybe called Warm Fuzzy Nominations or Buddy Nomination)

Reason:

a) While peer-to-peer recognition may not be as powerful as management recognition, it helpsbuild a strong work culture.

b) Peers work more productively with one another when they sense sincere appreciation fromtheir colleagues for their contributions.

For nominations a form of the following format can be used: (A sample)

c) The nomination will be done by the staff

d) Award selection will be done by a Committee

e) Limited involvement of management

2) GE Wall Of Fame is each office of GE Money

3) Fun Event Planned for employees every month

For ex: June (Free movie passes for all ),Feb (A inter-department Cricket Match), April (A team

picnic)

4) Programmes should include the 50/30/20 rule

Warm Fuzzy Nomination Form

Your Dept................................................................................................

Your Name...............................................................................................

Your Phone #..........................................................................................

Their Name.............................................................................................


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***Research and surveys have proved that direct appreciation by the Manager and peer, in thatorder, goes a long way in motivating employees.

5) There can be a SPOT Award programme during a fixed interval of time

It can Include the following:

a) On-the-spot

b) Lottery

c) Forms

6) Smiling Faces programme

- Recognizes teams or departments who demonstrates values of teamwork, respect anddedication in customer Service

7) Surprise By programme

- Funds can be used to surprise random departments with treats, cookies or small gifts or goodiesjust to thank them for being a part of the company!

8) Informal ways to increase Motivation:

a) Personally congratulating employees who do a good job

b) Writing personal notes about good behaviour or performance

c) Using performance as the basis for promotion

d) Publicly recognizing employees for good performance, and

Manager

Peer

Organisation


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e) Holding morale-building meetings to celebrate successes.

f) Naming a program after your employees

g) Keeping the work environment fun ( This doesn't mean that business doesn't get done, just thatits enjoyable to be there)

9) Some more inexpensive ways to reward the employees!

a) Ask for advice

b) Reward with a Goodie bag

c) Use staff ideas

d) Featuring staff in training videos

d) Creation of WOW cards for employees

e) Hall of fame photos

10) Some rewards that employee liked to see given to them:

i Certificate of appreciation

ii Mugs, other items with a special mention of your department

iii Flowers

iv Electronics (DVDs, iPods, etc.)

v T-shirts

vi Two-three day holiday packages

vii Dinner gift certificate

viii Tickets to events

x Shopping vouchers

xi Membership at clubs/gyms

xii Lapel Pins

*** However, employees do not want to receive cash as a reward for their performance!!


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11) Casual Mondays: Employees generally believe that declaring it a Casual dress day canminimize the Monday blues!

12) Use of Company Logos: Employees like wearing T-shirts, Sweat- Shirts with the Companylogo on it (This can even be a nice way of advertisement for the company free of cost)!

Some ideas that can go a long way to increase employee motivation (No Cost)

Posting a thank you note on an employees door.

Taking time to explain to new employees the norms and culture of the department.

Giving special assignments to people who show initiative.

Arranging for a team to present the results of its efforts to upper management.

Encouraging and recognizing staff who pursue continuing education.

Creating and posting an Employee Honor Roll in reception area.

Acknowledging individual achievements by using employees name when preparinga status report

Giving employees an extra long lunch break.

Establishing a place to display memos, posters, photos and so on, recognizingprogress towards goals and thanking individual employees for their help.

Swap a task with an employee for a day his/her choice.

Establish a Behind the Scenes award specifically for those whose actions are notusually in the limelight.

Give a shiny new penny for a thought that has been shared.

Nominate the employee for a University formal award program.

Present State of the Department reports periodically to your employeesacknowledging the work and contributions of individuals and teams.

At a monthly staff meeting, award an Employee of the Month and invite co-workers

at the meeting to say why that person is deserving of the award. Recognize employees who actively serve the community.

Have staff vote for top manager, supervisor, employee and rookie of the year.

Name a continuing recognition award after an outstanding employee.

Allow employees to attend meetings in your place when you are not available.

Create an Above and Beyond the Call of Duty (ABCD) Award.

Ask your boss to attend a meeting with your employees during which you thankindividuals and groups for their specific contributions.

Pop in at the first meeting of a special project team and express your appreciation fortheir involvement.

Send a letter to all team members at the conclusion of a project, thanking them fortheir participation.

Start an employee recognition program. Give points for attendance, punctuality,teamwork, etc. Provide gift certificates to employees who reach certain point goals.

Find ways to reward department-specific performance.

Plan a surprise achievement celebration for an employee or group of employees.

Start a suggestion program.

Write a letter of praise recognizing specific contributions and accomplishments. Send


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a copy to senior management and the employees personnel file.

When you hear a positive remark about someone, repeat it to that person as soon aspossible (Face-to-face is best, e-mail or voice mail are good in a pinch).

If you have a department newsletter, publish a kudos column and ask fornominations throughout the department.

Publicly recognize the positive impact on operations of the solutions employeesdevise for problems.

Acknowledge individual achievements by using employee names in status reports.

Express an interest in employees career development goals.

Post a large celebration calendar in your work area. Tack on notes of recognition tospecific dates.

Create and string a banner across the work area.

Practice positive nonverbal behaviors that demonstrate appreciation, such as smiles,or a handshake.

Support flex-friendly schedules.

Encourage employees to identify specific areas of interest in job-related skills. Thenarrange for them to spend a day with an in-house expert to learn more about thetopic.

Encourage employees to participate in community volunteer efforts.

Share verbal accolades forward positive voice mail messages.

Actively listen to co-workers, especially when discussing their accomplishments andcontributions.

Use 3x5 cards to write Youre special because statements. People can collect thecards and refer to them when things arent going perfectly.

Have a recognition event created by a peer group that decides what they will giveand why they will give it.

Keep a supply of appropriately funny notes that can be given as immediate rewards.Keep the supply visible in a basket or box in your office.

Widely publicize suggestions used and their positive impact on your department.

When someone has spent long hours at work, send a letter of thanks to his/her home.

Acknowledge and celebrate birthdays.

Arrange for an outstanding employee to have lunch with a dean or director.

Allow an employee to choose his/her next assignment.

Recognize a team accomplishment by designating that team as consultants to otherteams.

Recognize those committed to personal health and wellness

Smile. Its contagious.

Employee Recognition Ideas (minor to moderate cost)

Plan a surprise picnic.

Create a Hall of Fame wall with photos of outstanding employees.

Make a photo collage about a successful project that shows the people that worked


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on it, its stage of development and its completion and presentation.

Find out the persons hobby and buy an appropriate gift.

Make and deliver a fruit basket.

Inscribe a favorite book as a gift.

Give the person a membership or subscription to a journal that relates to their work

Design a Stress Support Kit that included aspirin, a comedy cassette, wind up toysand a stress ball or design your own.

Serve ice cream sundaes to all of your employees at the end of a project.

Once a year, have a Staff Appreciation Day where the managers supply, cook andserve food.

Serve a team a hero party sandwich at the end of an assignment, for a job well done.

Give flowers to an employee at their home or office as a thank you.

Purchase a unique pin to serve as a memento for a task well done.

Hold informal retreats to foster communication and set goals.

Provide a lunch for project teams once they have made interim findings. Express

your appreciation. Give a personalized coffee cup.

Give an employee a blue ribbon for achievement.

Design and give magnets with appropriate messages.

Give a deserving employee a mug filled with treats.

Give a framed poem (poster or card) as a thank you.

Throw a pizza lunch party for your unit.

Give a note reading, Thank you. You are a ______!"

Serve popcorn and lemonade on Friday (especially after a particularly hard week).

At an employee meeting, distribute gift certificates.

Give a puzzle as an award to a problem solver.

Have weekly breakfasts with groups of employees.

Treat an employee to lunch.

Give out gold coins for a job well done.

Bake/bring a gift (cookies, bread, etc.) for an outstanding employee or team.

Send birthday cards to employees homes, signed by dean or director.

Some examples of what others are doing:

1) IT and ITES companies these days have been going the manufacturing way, showering theiremployees with gifts, to show their appreciation for their efforts.

2) Consultancy firm Ma Foi, usually gives something that the entire family can touch and feel, tocreate a sense of relationship between the employee and the firm.

3) For Cognizant, it has been company policy since 1995-96 to give out gifts to employees everytime the company achieves a milestone.

So when the company recently achieved the $1-billion revenue milestone, it decided tocelebrate in style, doling out the latest fifth-generation iPod Videos to 15,000 employees who


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had served the organization for over a year.

4) Companies such as Wipro Technologies offer employees a travel bonanza with familymembers for their long stint in the organization. Wipro has long service awards such as the Club5, 10, 15 and so on where employees who have spent a particular number of years in the

company are recognized by the organization.As a token of appreciation, Wipro gives out two-three day holiday packages for the

entire family for a destination within India.

5) Banking-related software companies seem to be giving employees home loans on a reducedrate of interest.

6) Intelenet Global Services, a joint venture BPO solutions company between Barclays Bank andHDFC, offers all of HDFC products to its employees at reduced rates of interest.

7) According to IT and BPO firm InterGlobe Technologies, gift hampers such as DVDs, dinner

vouchers for employee along with spouse, or weekend getaways are instant rewards thatemployees can share with their families.

8) Business process outsourcing company (BPO) company Genpact have a Web-based rewardsand recognition programme that runs on similar lines as airlines' frequent fliers programme. AnyManager can go and reward an employee who has done well by assigning reward points, whichcan be accumulated by the employee and redeemed against various items such as golf sets, meal-for-two vouchers, white goods (including TV and washing machine), or holiday package for twoto destinations such as Jaipur or Goa" .

The highest recognition under `Platinum Award' could be a fully-paid, four-day tripto an overseas destination with the employees' spouses.

In 2007, the company took 45 of its employees with their partners to Greece!!

9) Polaris Software, the Chennai-based BFSI solutions specialist, has a stream outing

budget for all 6,000 associates, at a budget of Rs 1,800 for each employee every

year, with the intention of encouraging cohesiveness and teamwork.

On a more performance-based level, the company gives gifts such as home theatre

systems, iPods, and crystal trophies for employees who have won awards based onperformance.

10) The story is the same for HCL BPO, which gives out electronics items such as TV,refrigerator, DVD player, digital camera and microwave to its employees.


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MANY MORE..

1) MetLife

Long Service Awards

The Long Service Awards are presented in appreciation of the loyalty demonstrated

by an employee through his/her long tenure with the organization. This award is

open to all the functions, including sales.

MetLife Value Achievers Award

This award is awarded to MetLife employees, this award being open to all the

functions (including sales). This award is a quarterly award and seeks to recognize

employees for the demonstration of MetLife Values.

Any employee can be nominated by any other employee or even by self. The

nomination is to be supported with a story substantiating the nomination. Given the

fact that different employees have different levels of story telling skills, the HR

deptt edits the story if required, before presentation to the Committee.

Chief Administrators Awards

This is a quarterly award and is open for all the offices of MetLife globally. This

award seeks to acknowledge the best in class of employees in various

administrative departments internationally. The award could be for innovation,

demonstration of MetLife values, good service, and such.

(2) Prudential Insurance Company of America

Prudential Insurance Company of America has a healthy mix of formal recognition

and flexible on-the-spot rewards. The company tailors its formal recognition by


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department so as to be able to reward the very specific behaviours that are

department specific and cant therefore be generalized, but are nevertheless very

significant to the organization. The tighter focus ensures employees know exactly

what the company expects of them.

Meaningfulness of Rewards

Customer-nominated awards are given out quarterly, and both the nomination and

reward process are promoted in company newsletters and e-mails. It is also clearly

spelled out what the award recognizes. The explanation is followed with a

description of each winner and his or her exact efforts. The idea is to convey to the

organization, thorough these true-life examples of what behaviours/results the

management values.

Customer Focus

The company has a Customer Focus Award which recognizes employees who take

the initiative, go beyond their job requirements and act as motivators, leaders and

innovators on behalf of the customers. A cross-section of operations and systems

employees make up the quarterly selection committee. Winners receive a $300

"night on the town," recognition at events, a crystal award memento and eligibility

for a "Best of the Best" award$1,000 in Prudential mutual funds.

Empowering the Managers

Besides the formal recognition process, managers are allowed the flexibility to offer

informal incentives, such as a treat to movie show/dinners/ etc. at the departments

expense.

(3) Database Technologies

Database Technologies has 20% to 30% of compensation based on performance.

Employees are thereby rewarded for their hard work. Also, having a highly variable

compensation plan helps to attract highly motivated and competitive employees.

Employees are also compensated for intangible contributions to the company, such

as teaching courses and writing white papers. All employees are rated each quarter

on a scale of one to five, with five being worth an additional $2,000 per quarter.

Also, all clients are given satisfaction surveys to fill out. Those employees who

received high marks from clients became part of the Quality Club. Each year, the

entire Quality Club is invited on a company cruise.


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(4) Cognizant

Cognizants WAH program enables employees to earn points for their contributions

and redeem the accumulated points against Cognizant-branded products. Theobjective of the WAH program is to instantly recognize employees for their

contributions to organizational initiatives.

(5) Torry Harris Business Solutions

Torry Harris Business Solutions (THBS) has a Spot excellence Award, where

employees are rewarded for their beyond expectation performance within 24

hours of the deed. The award is based on the theory of Operant conditioning in

Behaviorism, which states that when a person demonstrates a behavior, if the

consequences are positively reinforcing, he/she is more likely to repeat thebehavior.

(6) Wipro

The company has a unique package called Encore, which is essentially a basket of

non-monetary rewards given to motivate employees and recognize excellent work

performance.

Some of these awards are:

Feather-in-My-Cap, an on-the-spot recognition of an effort awarded to aproject or project team

Dear Boss recognizes the positives of a good boss, including technical,managerial, and leadership skills

Mastermind, which notes the most innovative solution or idea

The Wipro Hall of Fame recognizes superlative performers in different roles aswell as superlative team performances


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7. TECH MAHINDRA

( MAM, BELOW IS A SSP PPT OF 5 SLIDES WHICH I GOT THROUGH ONE OF THEEMPLOYEES WORKING IN SSP NOIDA , PLEASE DOUBLE CLICK THE SLIDE BELOWTHE ENTIRE PPT WILL START RUNNING)

(8) INFOSYS

About Infosys Technologies Ltd.Infosys (NASDAQ: INFY) defines, designs and delivers IT-enabled business solutionsthat help Global 2000 companies win in a flat world. These solutions focus onproviding strategic differentiation and operational superiority to clients. With

Infosys, clients are assured of a transparent business partner, world-classprocesses, speed of execution and the power to stretch their IT budget byleveraging the Global Delivery Model that Infosys pioneered. Infosys has over80,000 employees in over 44 offices worldwide. Infosys is part of the NASDAQ-100Index.

About Infosys BPOInfosys BPO Ltd. (www.infosys.com/bpo), the business process outsourcing


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subsidiary of Infosys Technologies, was set up in April 2002. Today, it is rankedamong the leading BPO companies in India by NASSCOM, Dataquest, theInternational Association of Outsourcing Professionals, Red Herring, FAO Today,NelsonHall and others. Infosys BPO focuses on integrated end-to-end outsourcingand delivers transformational benefits to its clients through reduced costs, ongoingproductivity improvements, and process reengineering. Infosys BPO operates in

India, Czech Republic, China, Philippines, Lodz, Bangkok, Mexico and employs15,265 employees. It closed FY 2007 -08 with revenues of approximately $250.3million.

B2E (Business-to-Employee): the new way to employ, engage and manage talent

Infosys BPO & i-mint partner to launch employee rewards program

Infosys BPO, the business process outsourcing subsidiary of Infosys Technologiesand i-mint, Indias first multi partner consumer rewards program have partnered tolaunch the i-mint-Infosys employee rewards program for Infosys BPO employees.

The program will be launched with a Infosys co branded i-mint card. The programwill add considerable value to Infosys employees; for the first time Infosysemployees will receive i-mint points as rewards and can also earn points across thei-mint network of partners such as Airtel, HPCL, Air India, ICICI Bank, Lifestyle,Makemytrip.com, G K Vale, M K Retail, Sangeetha Mobiles, Planet Fashion and manymore. The employees can redeem their points from the vast i-mint rewardscatalogue on www.imintpoints.com.

Infosys BPO is the Employer of Choice where Careers are Buildand thisinitiative further validates our best people practices making it a GreatPlace to Work for.

I-mint has a strong presence in the retail, banking, aviation and telecomsectors and it has been a conscious call to enter the BPO sector withemployee rewards.

(9)ONICRA (GROWTH , REWARDS AND RECOGNITION)

GrowthWe believe in investing in our employees .Our several programs such as professional growth ,mentorship programs focus ondeveloping the company's future leaders and improving your intuitive and decision makingabilities.Some of the growth initiative we undertake :- Annual increase in remuneration Training programs to enhance skill-sets Perks and Privileges to high performing employeesFlexibilityWe recognize that people perform better if they are trusted, motivated and given flexibility toperform. In the long term organisation andemployees interests converge and a more contented and motivated workforce is sure to deliver


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improved business performance. Some ofthe things you can expect are: Entrepreneurial environment Freedom to innovate Products & services Early responsibility and freedom to operate

Independence of thought and ideas Open and informal communication

(10) RELIANCE

Holiday Pay Vacation Pay

Pay Cards / Direct Deposit Clerical Referral Bonus Medical Insurance Hospitality Training Software Training Park Discounts Outstanding Temp-to-Hire Opportunities Yarana Award (In September 2007, the Yaarana programme was launched at the

Broadband Centre in Reliance World across India. It was designed to reward not just ourcustomers for having a good time at the Broadband Centre but also their friends andfamily.)

Krps (Kent Reliance Provident Society ) award. Gift coupons( a sum of 5000 gift coupon, validity for 1 year, fbt tax 16.67%)

MY IDEAS OF REWARDS IN AKPO

EUREKA AWARD QUATERLY RECOGNITION FOR

NEW RESEARCH,

MAJORRESPONSIBILITY,

PRODUCT ADDED VALUE .


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OPERATIONS GURU QUATERLY IMPROVING

OPERATIONAL EFFICIENCY

STAR AWARD QUATERLY CLEAR FOCUS ON

UNDERSTANDING THE

CURRENTAND

THE FUTURE NEEDS OF

CLIENT,

NOTEWORTHY OUTCOME OR

DELIVERIES FOR

ENHANCING CLIENT

CHAMPION AWARD HALF YEARLY OUTSTANDING

CONTRIBUTION TO ANALYST,

FAST LEARNING CURVE.

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