EMPLOYEE REWARDS AND RELATIONS
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1. Rewards Management 2. Types of Rewards 3. Incentives at Google, Wegmans, BCG 4. Reward System of Sanima Bank 5. Total Rewards Model 6. Organizational Justice 7. Organizational Entry, Violations of policies/Discipline, 8. Grievances and Grounds of Termination 9. Ethics Program, Organizational Entry, Ongoing Relationship, Discipline, Grievance Handling, Exit and Termination in Sanima Bank
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EMPLOYEE REWARDS AND RELATIONS
- 1. Group 5 Abinash Adhikari Naveen Neupane Dipesh Raj Pandey Ruchi Pathak Uttam Rai Ankita Shrestha EMPLOYEE REWARDS AND RELATIONS
- 2. REWARDS???
- 3. Giving something to someone in recognition of their services, efforts or achievements.
- 4. Concerned with the formulation and implementation of strategies and policies. Aim to reward people fairly, equitably and consistently. Consists of analyzing & controlling Employee Remuneration, Compensation & all other benefits of employees
- 5. PAY-FOR-PERFORMACE (PFP) Mostly used by high performing organizations Encourages employees and managers to stretch the goals More satisfied employees, who bring innovative ideas and solutions
- 9. OOGLE Onsite fitness center Job sharing Discounted gym memberships Outdoor sports facilities INCENTIVES Telecommuting Onsite medical care facility Sick days for part- timers Onsite childcare Health insurance for part-timers
- 11. INCENTIVES Flexible work schedules Job sharing Compressed work week Ample promotion opportunities Telecommuting Domestic partner benefits for same-sex couples College tuition reimbursement Non-discrimination policy includes sexual orientation Health insurance for part-timers
- 12. REWARDS AND INCENTIVES Unlimited • Paid time off after one year of full-time employment • Paid sick days after one year of full-time employment • Paid time off as of first day of full-time employment 8 weeks • Paid sabbatical after 5 year(s) of employment Work Life Balance by Numbers 80 days • Job-protected maternity leave • Fully-paid maternity leave 40 days • Job-protected paternity leave • Fully-paid paternity leave • Fully-paid parental leave for adoptive Family Care by the Numbers Mental health care Alternative treatments Fertility treatments Health Insurance Covers
- 15. REWARD SYSTEM Mr. Rajan Parajuli (Head of HRD) Performance Based Appraisal Individual based reward system Bonuses as per bonus act Excellence award Holiday and pay rise as per performance
- 17. Total Rewards Model 1. Compensation: both fixed and variable pay 2. Benefits: health, income protection, savings, and retirement programs 3. Recognition: formal and informal programs that acknowledge employee actions, efforts, behavior, or performance 4. Performance management: establishing expectations, skill demonstration, assessment, feedback, and continuous improvement 5. Work-life effectiveness: practices and programs to help employees achieve success at both work and home 6. Talent development: tools and opportunities for employees to advance their skills, competencies, and careers ■ Nepalese banks give more priority to compensation and benefits.
- 18. EMPLOYEE RELATIONSHIP Competitive advantage Provides fair and consistent treatment
- 19. ORGANIZATIONAL JUSTICE Perception of Fairness But is difficult to achieve
- 20. ORGANIZATIONAL JUSTICE TYPES Distributive Justice • Equity in Allocation Procedural justice • Perception of fair rules, laws or policies Interpersonal justice • Treatment an employee receives from a supervisor or manager Informational justice • Adequacy of explanations
- 21. ETHICS PROGRAM “To ensure honest, fair and responsible actions on the part of the employees” Respect the customs/rituals of others Consider the welfare of others as much as is feasible Try to evaluate a situation objectively and evaluate the anticipated and unintended consequences of each possible action Think of yourself and the organization as a part of the larger society
- 22. ALL OVER THE WORLD
- 23. ORGANIZATIONAL ENTRY 37.7% Netherlands ( 2016) 23.8% United Kingdom (2016) 27.1% USA (2017) EMPLOYMENT STATUS Temporary Done Part-timeTo Full-time AvoidTax ContractEmployee Benefits
- 24. ORGANIZATIONAL ENTRY WORK ARRANGEMENT Traditional Alternative Monday to Saturday Monday to Friday 8hrs a day, 48hrs a week Telecommuting Flextime Permanent Part-time Job sharing Compressed workweeks
- 25. Examples:WorkArrangement ■ Permanent part-time (AT &T, IBM, DuPont, UPS etc.) ■ Compressed work weeks Used by firefighters, police officers Also Citibank, US Sprint Why? -Effective in relieving work-family conflicts -Basically, helps maintaining Work-life balance
- 28. ORGANIZATIONAL ENTRY Realistic Job Preview Socialization and Orientation Can reduce turnover by 5-10 % 30% use RJPs Institutionalized socialization Individualized socialization
- 29. listing their hobbies, their clothes sizes so that they can celebrate their, birthdays, anniversaries with tailor made gifts
- 30. THE ONGOING RELATIONSHIP External Forces (LAW) Employment- at-will Three Exceptions Public policy Implied contracts Tort theories Internal Forces Employee themselves Hand book Legal disclaimers, sexual harassment policies etc
- 31. VIOLATIONS OF POLICIES/DISCIPLINE Guiding principles for discipline Punishment Discipline Progressive discipline Verbal warning Written warning copied to superior’s file Written warning copies to HR’s file Suspension or demotion Termination
- 32. “No labor contract can cover all contingencies and answer all the questions”
- 33. Was it within your rights to discharge this person?Was speaking back to you harshly “just cause”?
- 36. PROCEDURE Employee complaint Union Representative Company Representative Mediator and Arbitrator Unionized Organization Open-Door Policy Juries of Peers Binding Outside Arbitration Non-Unionized Organization
- 37. GUIDELINES TO HANDLE Develop a suitable work environment Hone your ability to recognize, diagnose and correct the causes Make a list of Do’s and Don’ts
- 38. TERMINATION GROUNDS OF TERMINATION Unsatisfactory performance Changed requirement Lack of qualificationMisconduct
- 39. Ethics Program Focus on Orientation No Separate Ethics Program CircularsDos and Don’ts
- 40. ORGANIZATIONAL ENTRY Full-time Workers No Flexible Work Arrangemen t Job Preview in Description Refreshment Programs
- 41. Ongoing relationship Employee Survey No Separate Handbook Make a list of Do’s and Don’ts Feedback through survey Performance Appraisal
- 42. DISCIPLINE and Grievance Handling Types of Violation Serious Termination Minor Minor Letter Grievance Handling Serious Up to CEO Minor Immediate Manager
- 43. EXIT AND TERMINATION Contract At the end of contract Prohibition1 month prior notice Termination Immediate as per Bank
- 44. No Ethics Program Simple Orientation Job Preview One time Socialization Event By the books relationship Simple Disciplining Grievance Handling at nascent phase Simple exit
- 45. THANK YOU
Notes de l'éditeur
- accordance with their value to the organization.
- Formal programs (such as resource groups, mentorship, networking, or other affinity groups) support professional development for: Under-represented racial/ethnic minority groups; Women; Lesbian, gay, bisexual or transgender employees; Disabled employees Non-birth parents in same-sex relationships can take parental leave
- As it stands, companies spend a significant amount of time on evaluation but comparatively little on development. The companies in the Forbes List are all switching their focus from dictating what employees should do at work to helping develop their skills as individuals. Yet it remains that human capital is every business’s greatest resource. These companies have become great place to work for because they include more feedback and place a greater emphasis on development. And as employees become even better at their jobs, it’s a win-win for everyone.