Reward Recognition
GUIDELINES EMPLOYEE REWARD & RECOGNITION POLICY
Introduction:
Benefits of an Employee Recognition Program
1. Increased customer loyalty and retention; lower turnover. Employees who feel appreciated and respected will be more productive and motivated, and are likely to remain longer with the company.
2. Higher employee productivity overall.
3. Increased retention of mid to high performers.
4. Overall increased employee morale. Employees often go above and beyond what is expected of them in most cases. Showing your appreciation creates an environment of respect and gives employees a sense of ownership and belonging in their place of work.
Fundamentals of an Employee Recognition Program
Facts & Figures
• The total number of your employees;
• The total amount of money you wish to allocate for recognition gifts and incentive awards;
• Funding: Your per employee budget for each employee recognition gift or award.
Allot approximately 1% of base pay for non-sales staff and 4%- 7% of base pay for sales staff,
Please consider the following preliminary when developing an employee recognition program:
I.Program objectives
It is imperative that the Delegation has a clear idea of the goals it hopes to achieve with its employee recognition program. Specifically, what do employees need to do?
1. What employee actions will the program reward?
2. What specific employee achievements should be highlighted and recognized?
3. What outcomes are you looking for?
4. And what policies and practices will drive your recognition program?
For example, one objective articulated by many Delegations is to improve safety performance. With this goal in mind, employees may be recognized by receiving rewards or incentives based on achieving a specific desired set of circumstances, such as:
1.A set number of days without recordable accidents;
2.A set number of months without lost-time injuries;
3.Significant decreases in workers’ compensation claims
Introduction:
Benefits of an Employee Recognition Program
1. Increased customer loyalty and retention; lower turnover. Employees who feel appreciated and respected will be more productive and motivated, and are likely to remain longer with the company.
2. Higher employee productivity overall.
3. Increased retention of mid to high performers.
4. Overall increased employee morale. Employees often go above and beyond what is expected of them in most cases. Showing your appreciation creates an environment of respect and gives employees a sense of ownership and belonging in their place of work.
Fundamentals of an Employee Recognition Program
Facts & Figures
• The total number of your employees;
• The total amount of money you wish to allocate for recognition gifts and incentive awards;
• Funding: Your per employee budget for each employee recognition gift or award.
Allot approximately 1% of base pay for non-sales staff and 4%- 7% of base pay for sales staff,
Please consider the following preliminary when developing an employee recognition program:
I.Program objectives
It is imperative that the Delegation has a clear idea of the goals it hopes to achieve with its employee recognition program. Specifically, what do employees need to do?
1. What employee actions will the program reward?
2. What specific employee achievements should be highlighted and recognized?
3. What outcomes are you looking for?
4. And what policies and practices will drive your recognition program?
For example, one objective articulated by many Delegations is to improve safety performance. With this goal in mind, employees may be recognized by receiving rewards or incentives based on achieving a specific desired set of circumstances, such as:
1.A set number of days without recordable accidents;
2.A set number of months without lost-time injuries;
3.Significant decreases in workers’ compensation claims