Reward and Recognition Policy 2020

1 Name of policy

The Righteous Bean Reward and Recognition Policy 2020 – Sales Consultant

2 Commencement

17/04/2020

3 Statement of intent

The intent of the Reward and Recognition Policy is to:

- acknowledge and reward outstanding performance when it happens;

- foster professional and career development;

- provide for a range of informal and formal rewards and recognition, which may or may not have
monetary value;

- ensure that processes are transparent, and rewards and recognition are fairly and equitably applied;
and

- ensure that rewards and recognition are meaningful to the individual or team.

Principles

The reward and recognition policy is based on three basic principles:

Leadership - It is the responsibility of supervisors and leaders to take an active role in the performance
management of their staff, to acknowledge and recognise the achievements of staff, to foster their
engagement and to support their career development.

Accountability - Rewards and recognition must be applied fairly and equitably within a Faculty or Division
through a process which is as transparent as possible. Monetary reward and recognition decisions must be
made and documented in accordance with the relevant allowance policy.

Fiscal responsibility - Reward decisions must be made in accordance with the company financial
accountability requirements. Allowances and monetary bonuses for outstanding performance remain
discretionary.

4 Application

These Reward and Recognition Policy apply to all the Sales Consultants of The Righteous Bean.
5 Definitions

Reward Strategies Cash compensation

Recognition Strategies Informal and formal recognition

Acceptable Performance • Sign up new customers, both B2B and B2C to The Righteous
Bean roasting services and barista machine range: 100 new
customers per month

• Sell additional products and/ or upgrade quantity of

products per month275 existing customers

• Close sales totalling $264,000.00 per annum

• Customer surveys completed by 10% of customers contacted

by the sales team

• Sales staff receive an average survey rating of 4 or above on

a rating scale of 1 to 5 (5 being excellent)

High Performance Achieve in one or more of the than the Acceptable

Performance.

6 Reward Strategies

Cash compensation

The organisation must pay its employees for the services that they provide bonus (annual) and incentives (per
project) pay, based on different factors such as performance or career development.

7 Recognition Strategies

Informal recognition

- All Employees are encouraged to provide informal recognition to their colleagues to recognise the positive
contributions of others in the workplace.

- Human Resources manages a corporate recognition program that empowers Employees with a range of
options to acknowledge colleagues for their contributions to the company.

Formal recognition

- Employees will be formally recognised for their service to the company in a manner commensurate with their
period of service. Acknowledgement will be made in an appropriate form and forum, as outlined in the
Employee Recognition of Service Schedule.
8 Timing

12 months.

Notes
Any doubt or for more information consult HR team.