Objective/Purpose:

To encourage & recognize the excellent performance and achievement ofemployees through the use of

rewards those are creative, flexible, andmeaningful.
 
 To enable recognizing and rewarding in immediate response to specificaccomplishments.
 
 To Contribute to our ability to attract, retain, develop and motivate theright people

Scope
 
 The Reward and Recognition Policy will be applicable to all employeesand will be disbursed based on set
parameters
 
Motivation & Positive competition on-the-move

The Policy
1.The Reward and Recognition Policy will acknowledge performance andinitiatives at Company, team and
individual levels.

2.Reward methods will be used to align individual performance andcorporate objectives.3.

 
Rewards will be designed to encourage individuals to behave in ways thatsupport corporate values e.g. teamwork,
individual recognition.4.
 
 The reward system will be underpinned by objective methodology for judging the best on each param
eter, and thus reinforce a performanceculture.5.
 
 The Management reserves the right to terminate or make changes to thispolicy at any time.
DefinitionsReward
- One-time cash or non-cash award for significant outstandingperformance on areas identified and defined.
Guiding Principles
1.
 
Rewards should be given for significant outstanding performance thatadvances the departmental goals, and should be tied
to a specificaccomplishment.

2.
 
Rewards are most effective when they are meaningful to the individual.3.
 
Care should be taken in communication and distribution of rewards sothat they are not viewed as entitlements.4.
 
Care should be taken in communication and distribution of rewards sothat they are not viewed as subjective5.
 
Rewards are not adjustments to base salary, Special Allowance, orvariable pay programs (such as bonus, incentives etc).6.
 
Spontaneous recognition and rewards would be in the form of anappreciation letter.
Reward & Recognition Committee
 There will be a Reward & Recognition committee and will be comprised of allconcerned Functional
Head.
Administration of the Policy
1.
 
 The HR will be responsible for the administration and maintenance of thepolicy and ensuring the
adaptation of best practices within the program.2.
 
 The Office of Human Resources will:

 
Provide guidelines regarding reward structure and processes.

 
Invite Nominations as per period defined.

 
Review all nominations for the month selecting the award winners,subject to approval by the Management Team.

 
Initiate and/or review changes to the Reward and Recognition Policy,subject to approval by the
Management team.

 
Propose and manage the annual budget for the reward andrecognition schemes

 
Serve as consultants to all departments in developing rewardstrategies.

 
Oversee the use of reward programs.

 
Serve as a clearinghouse for best practices.

 
Process payroll taxes for cash and taxable non-cash awards.
3.
Initiator :
Reporting officer of the employee Initiator will be required to provide information on thenature of
contribution made by the employee and the resulting benefits from it to thecompany
 
 
Awards
1.
 
 To ensure both fair and consistent application, a core set of rewards andrecognition programs has been
developed2.
 
 The various Reward and Recognition Programs to be awarded are aslisted in3.
 
 They are typical of recognition programs identified as best practices andinclude both planned
and immediate employee recognition programs.4.
 
Additional recognition programs may be added as the Company becomesmore accustom to their use.5.
 
 The listing will be subject to review every year or based on Businessneeds6.
 
 The Awards would be both monetary as well as non-monetary kinds
Award Categories1. Promising New Comer Award:
•
 
Criteria
Criteria for nominating employees for this award would be multifarious –  pertaining to every aspect
of professional conduct of an employee in theorganization including his/her attitude, behavior,
performance and potential.These criteria have been detailed in the New joinee Assessment
formMinimum overall rating to qualify to be nominated in this award category is 4 ona scale of 1-5
where I is the lowest rating
•
 
Initiator
Reporting officer of the employee would initiate the process by filling therelevant form and
submitting it to HR after seeking approval from theconcerned function Head.
2. Excellence in Quality Award
 
Criteria

 Criteria for nominating projects/employees for the awards mentioned above would beas follows.a)
 
Attaining an average score of 3& above when evaluated on the following parameters on a scale of 1-5
where 1= never does 2= rarely,3= sometimes,4=most of the times 5,=always(1)
 
Best project of the Quarter
Parameters Weightage
* Process adherence 20%* Effectiveness of reviews and approvals 20%* Time sheet entries 10%* Par
ticipation in process improvement 20%* Participation in CMM activity 25%* Effective communicatio
n 5%All nominators would be required to justify the nominations by giving illustrations(wherever
possible)in support of the ratings awarded against the parameters mentionedabove .(2)
 
Exceptional contribution in the area of quality in individual capacity
Parameters Weightage
a) Process adherence 20% b) Spreading process awareness across the
organization 30%c) Turn around time to close Non-compliance 20%d) Effective audit and value addit
ion 20%e) Identifying process gaps and filling them 10%All nominators would be required to justify
the nominations by giving illustrations(wherever possible) in support of the ratings awarded against
the parameters mentionedabove
3.
 
Rewarding Exceptional Contribution in the Area of Team workCriteria
 

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󰁳 󰁩󰁥󰁳
 Criteria for nominating team members for this award would be as follows.a)
 
Attaining an average score of 4& above when evaluated on the following parameters on a scale of 1-5
where I = never does,2= rarely ,3 =sometimes ,4=most of the time ,5= always
Parameters
•
 
Cooperates and functions well with others in the pursuit of team objectives
•
 
Leads by example in the pursuit of excellence in performance and deliveringvalue to the organization
•
 
Inspires team members to achieve high standards of performance
•
 
Actively looks for synergies and fosters cooperation across other functions
•
 
Interacts with others in a sensitive manner and shows respect for their views andvalues
•
 
Is self motivated and undertakes initiatives
•
 
Is receptive to feedback
•
 
Shares knowledge and gives credit
•
 
Is open to new knowledge and ideas. b)
 
Making a significant contribution towards the achievement of team objectivesduring the
specified nominating manager would be required to justify thenomination of the person by specifying
any such Achievement of his ,wherein histeam spirit is strongly reflected .
4. Rewarding Innovation and Creativity
 
Criteria
Criteria for nominating team members for this award would be.Proposing any innovative idea or
solution which is approved for implementation andwhich would lead to improvement in any of the
following areas:
•
 
Company Culture
•
 
Company policies
•
 
Functional Processes
•
 
Inter/Intra Functional Team Functioning
•
 
Areas pertaining to individual Role & Responsibilities
5. Rewarding outstanding performance
•
 
Criteria

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󰁯󰁧
󰁳 󰁩󰁥󰁳
 We take pride in our outstanding performers .They are the major force behind oursuccess .Criteria for
nominating employees for this award would be exceptional performance in a given role by an
employee resulting in significant contributionto the company in terms of savings/revenues/growth
/technologicalinnovation/improvement in the functioning of the organization etc
Cash Award/ Monetary Awards

 
One-time cash rewards are disbursed as additional pay during thenormal payroll cycle
Non-monetary Awards
Non-monetary recognition awards include: non-refundable gift certificates;meals; trips; plaques; trophies;
certificates; desk items; cups and mugs;personal items of clothing such as caps, shirts, and sweatshirts; and
otheritems such as tools, electronics, radios, sports equipment and timepieces.
Tax Law Compliance
 The Reward and recognition activities must be in compliance with all applicabletax laws.
Process:Planned Employee Recognition
 This approach is characterized by scheduled ways of acknowledgingcontributions and accomplishments of
an individual or team. This approach isless formal and provides more frequent opportunities to recognize employees.1.
 
The nomination process:
 The nomination is called from all departmentsbased on the schedule of disbursement2.
 
 The nominations must be submitted to the HR department committeewith the appropriate
documentation for all monetary awards, giftcards/certificates for any amount and non-monetary awards.3.
 
The approval process:
 Nominations reviewed by designated committeeand recommendation made to the Management team;
the Management Team gives the go ahead.
Policy Interpretation
 
 The HR Head is responsible for official interpretation of this policy. Questionsregarding the application of
this policy should be directed to the HRdepartment. The Management reserves the right to revise or
eliminate this policy.

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