Date post: | 30-Nov-2014 |
Category: |
Business |
Upload: | best-workplaces-conference |
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International Leaders and India’s Foremost in Work – Life Benefits, Rewards and Loyalty Solutions
India’s Best Companies forRewards and Recognition 2012
TPG Software Pvt. Ltd.
Our Reward & Recognition Philosophy
“People may forget words; People may forget actions; but people will always remember Respect, Recognition & Appreciation given to them publically for their contributions is the philosophy on which TPG Software operates”
Manpower Distribution on Maslow’s Model
Perfection & Contribution
Confidence, achievement, respect of others, respect by
others
Friendship, family, intimacy etc.
Job Security, Safety & Health
Basic Needs of survival.
Physiological
Safety
Love/Belonging
Esteem
Self-actualization
Average Age of 28 years
Mechanism to meet needs towards love & belonging and Self Esteem
On an average planned more than 2 awards per employee per annum
Opportunities to win prizes events and Fun@Work
Key to Success of R&R
Fairness in declaring the award (scrutinized at 3 levels RM, PM & SCM with details ranging from all functional & contextual contributions)
Touching hearts of employees & Families - parents, spouse, kids (Sharing respect & recognition with employee’s family for their contributions towards the employee’s success in the company; thus making the company succeed in its objectives – Awards such as flower bouquet, Feng-shui plants, Greeting Cards, house-hold gifts, games, ticket & shoppers-stop vouchers, ).
Measures of Achievemen
ts in the light of Award
Match the Reward to
Person
Match the Reward to
Achievements
Merit is the only Differentiator for R&R
Equal Opportunity for all
Extra care taken for R&R of New Joiners and Gen “Y” & Balancing Gen “X” and Gen “Y”
Reward Contextual Contributions to support Culture & Purpose beyond business
Chance for everyone to be recognized & appreciated ( JA, MA, Birthday, Appreciation Tree, GEM Team, Star Performer, Prizes at Fun@Work)
Turning the Table – Mission 2012Understanding & reading people’s mind
Sr. management & leadership taking responsibility
Established Action Plan for 105 Action Items delegated upwards
Published achievements on quarterly basis
98% task accomplished
Upward Appreciations from people to leadership
Building culture of Appreciation & Recognition
Quarterly theme for Appreciation Tree
Discussion Board
Joining Anniversary Communications
Cross functional clubs – Arbit, Jagruti, Zaika, Cricket
Channels of communication
Unique Practices
Many opportunities for recognition & reward
Flexibility to choose appraisal cycle,
Flexibility to choose compensation structure
Flexibility to choose variable pay
Lunch out of tenured people in 5 Star Property with Leaders
92% Satisfaction with R&R Initiatives
Culture
Enabling function
Comaraderie
Business Understanding
Communication
Relationship with Seniors
Work-Life Balance
Reward & Recognition
Corporate Perspective
Work Environment
Confidence on Top/ Senior Management
Total Compensation
Performance Appraisal System
Development Opportunities
0 20 40 60 80 100 120
97
96
96
95
93
93
92
92
91
91
89
87
86
85
3
4
4
5
7
7
8
8
9
9
11
13
14
15
No. of Response (in %age)
Para
mete
rs
AgreeDisagree
Thank youLet’s Recognize, Respect & Reward