Reward Scheme For Employees


Staff Recognition & Reward Schemes have been introduced in the year 2009 as part of the Sravan Shipping Services Private Limited commitment to "Creating a Rewarding Environment". These new schemes have resulted primarily from the feedback obtained in the Recognition & Reward staff survey. Their development has been overseen by the Reward Strategy Group which is chaired by the Managing Director, and with valuable input from the heads of Departments across the organization. These new schemes, along with the already established Service Recognition Awards, form the Staff Recognition & Reward package available in our organization.

Key Points for Front Level Managers in Sravan Shipping Services Private Limited

Our Organization aims to recognize and value the hard work, commitment and achievements of all our employees. Managers play a significant role in recognizing employee's contributions on a day to day basis as well as those which are exceptional, ensuring fairness, clarity, and consistency in their approaches. These schemes have been introduced to reward those who have made exceptionalcontributions to the life and work of the Sravan Shipping Services Private Limited.
We provide mechanisms to recognize and reward staff, there are a number of general aspects that we think are important in supporting their effective implementation and establishment within the Sravan Shipping Services Private Limited.

These include:

Managers are encouraged to develop a culture within their team or department which fosters effective communication and recognition of staff for the worthwhile contributions made, both on an individual and team basis. Often, a simple but sincere "Thank You" is what people value. It is also important to recognize that each person is different and that the contributions they make should be recognized and rewarded in a way that is meaningful to them as individuals.
Managers are encouraged to be mindful of the various schemes in their day to day management of staff. This will assist managers to offer employee recognition that is consistently fair. Managers are reminded that the Recognition & Reward Schemes are not designed to give additional reward to staff who are performing at a fully satisfactory level in their role and/or developing in line with normal expectations for that post. Contractual salary and normal increments, where the latter apply, are designed to cover this.
Judgments in relation to proposing any form of recognition and reward should be demonstrably based on objective evidence and, where appropriate, recognize teamwork. Assessment of contribution achieved should be clearly related to their role and objectives, behaviors and activities which contribute to the success of the organization and relate to the criteria outlined in each scheme. An individual's or team's contribution should be demonstrated both in terms of the outcomes (results) and the manner in which the work was completed (behaviors).
Where a manager will be making a recommendation for an award, the manager may discuss this with the individual concerned but must make clear to the individual that it will be the Head of the Department or the Salary Reward Panel (in the case of Salary Recognition & Reward Scheme) who will make the decision, based on the strength of the case. In this respect, managers are reminded of the importance of managing expectations in relation to awards, within their areas of responsibility, to ensure that false promises are not offered.
The Local Staff Recognition Scheme enables managers to recognize staff at a departmental. Local staff recognition rewards are designed to recognize those employees, as individuals or teams, who demonstrate key attributes linked to the Sravan shipping Services Private Limited values.

Categories & Criteria

Employees or teams may qualify for a local recognition reward if they meet the criteria in relation to one or more of the following :-

Being Inspiring :

Inspiring others to be the best they can be, whilst themselves being forward thinking, enterprising and engaged in their day to day activities. Set and meet high standards, aspiring to achieve the best for themselves and the organization.

Creativity :

Embracing creativity by taking bold decisions that enable the organization to develop. Challenging existing methods and processes; devising and implementing successful improvements and enhancements of these.

Leadership :

Consistently engages, persuades and motivates employees, whilst generating originality for the betterment of their area and the organization as a whole. Also creates a positive attitude and atmosphere, positively influencing others by their example and communicating effectively and in an engaging manner.

Professionalism :

Provide an exceptionally high level of professional service to all those they work with, by having the highest standard of professional ethics. Consistent commitment to outstanding performance, enriching the student experience either directly or indirectly.

Responsiveness :

Foster an open culture in which employees are approachable, friendly and willing to share ideas; readily reacting to suggestions, influences or efforts. Also, being committed, engaged and innovative in the delivery of service excellence to students/customers and to own peers.

Funding :

This scheme will be funded from nominal allocation, based on annual growth. The Department of Human Resources will control the budget and process any payments. Departments have the ability to "top-up" their nominal allocation using their own departmental budget, as agreed by each department's most senior budget holder.

Process :

Admin Manager identifies that an individual/team under their management meets the criteria under the scheme. Admin Manager makes recommendation via completion of form RA to Department. (It is suggested that Admit managers check with their respective operational HR Adviser in the first instance regarding justification, consistency, etc.).
Admin Manager and Heads of the Department meet to discuss/approve recommendation. Where approved, Heads of the Department writes to individual/team to acknowledge recognition and offer choice of reward. Heads of the Department sends e-mail to the HR Director advising of award and recipient. HR will monitor overall awards to ensure consistency of application and notify payroll and Head of the Department.