EMPLOYEE REWARDS POLICY

This Employee Rewards Policy (hereinafter referred to as” Policy”) applies to all the employees of the [INSERT THE NAME OF COMPANY] (hereinafter referred to as “Us” or “we” or “Company”).

This policy aims at providing transparency and a competitive work environment for all individuals within the company. It provides a framework of employee rewards and recognition structure.

1. PURPOSE
   1. The purpose of this policy is to establish clear guidelines, as to how [INSERT THE NAME OF COMPANY] will provide rewards and various other benefits to its employees based on several factors. It aims to establish guidelines for their contributions and recognize their efforts in achieving Company’s goals and objectives. This policy helps in developing employee morale, motivation and retention.
2. SCOPE
   1. This policy applies to all employees, including full-time, part-time, temporary, at all levels within the Company. In circumstances where an employee’s behavior or conduct may involve a breach of this policy. The Company might take disciplinary or termination actions.
3. CRITERIA FOR REWARDS
   1. Employees will be given rewards based on the following criteria;
      1. Performance- Employees who achieve company’s set goals within a limited timeframe and demonstrate outstanding performance deserve to be rewarded for their exceptional dedication and contribution.
      2. Customer feedback- Positive feedback from customers not only reflects our integrity and professionalism but also enhances the Company’s reputation. Employees who consistently receive such feedback set the benchmark for their peers and are deserving of recognition.
      3. Leadership and Tenure- Employees who exhibit exceptional leadership and problem-solving skills deserve genuine appreciation for their valuable contribution. Similarly, Employees who demonstrate unwavering loyalty and dedication to the company over an extended period deserve meaningful rewards and recognition.
4. TYPES OF REWARDS
   1. The following types of rewards will be granted to eligible employees under this policy;-
      1. Monetary Rewards- Cash bonuses, profits, and salary increment based on the performance evaluation.
      2. Non-Monetary Rewards- Recognition awards, certificates, and tokens of appreciation.
      3. Career development opportunities- Professional development opportunities for advancement, business trips and programs.
5. PROCESS FOR GRANTING REWARDS
   1. The HR department will be responsible for administering the rewards and recognition program. The process for granting rewards will include the following steps.
   2. Performance evaluations are conducted on a monthly basis by the Humane Resource Department to structure rewards decisions effectively and efficiently. Based on these evaluations’ bonuses, rewards and achievements are given to the well-deserved employees.
   3. These evaluations will be assessed based on various factors such as daily activity of employees at work, employee’s responsibilities as per Company’s goals and objectives, teamwork and communication.
   4. Final approval will be obtained from the concerned departmental heads or senior management.
   5. Employees selected for rewards will be notified in writing, and details of the reward will be communicated accordingly.
6. FAIRNESS AND TRANSPARENCY
   1. Our Company is committed to fairness and transparency throughout the administration of the program. All decisions regarding rewards will be based on employees performance and will be made without regard to race, gender, age, religion or any other protected characteristic. We value the contributions of every team member and are committed to fostering a rewarding and satisfying work environment.
7. RESPONSIBILITIES
   1. Our Human Resource Department is responsible for implementing and enforcing this policy. The Department will periodically review to ensure its effectiveness and alignment with Company’s goals and objectives, and will take appropriate corrective action if a violation of this policy is found.
8. COMPLIANCE WITH THE LAWS REGULATIONS
   1. Individuals working within the Company must adhere to the required applicable laws and regulations. The employee must comply with the company's policies and procedures with respect and dignity. Employees and Supervisors must stay informed about the laws relevant to their roles and responsibilities and ensure that their actions and decisions align with legal standards of the Company.
9. CHANGES TO THE POLICY
   1. We reserve the right to update and make changes to this policy from time to time based on the working conditions of the Company. The Company on updating this policy will inform the members of the Company.
10. FURTHER INFORMATION
    1. For any queries or further Information regarding our Company or about this Policy, the concerned person can contact us through email[ INSERT THE EMAIL ADDRESS OF COMPANY]
11. ACKNOWLEDGEMENT
    1. We expect all employees to adhere to this policy of the Company. The Company will apply this policy consistently and fairly to ensure a harmonious and productive workplace for all.
    2. By signing below, you acknowledge that you have carefully read and understood the terms and contents of this policy.
    3. You acknowledge that you will follow the set guidelines of this policy as well as of the Company and failure to do so; the Company can take required action against such person.

COMPANY                    

Authorized Signature

Print Name and Title

[INSERT THE NAME/DESIGNATION OF SIGNING AUTHORITY OF COMPANY]