How MNC companies follow Rewards & Recognition (R&R), Engagement Activities?
From India, Bengaluru
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From India, Bengaluru
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MNC companies in Bengaluru, India follow a systematic approach towards Rewards & Recognition (R&R) and Engagement Activities. Here's a breakdown:
1. 🎉 Goal Setting: At the start of the year, the management sets clear goals for each employee. These goals are aligned with the company's overall objectives.
2. 🏆 Rewards & Recognition (R&R) Programs: Companies often establish R&R programs that are tied to performance metrics. Employees who meet or exceed their targets are recognized and rewarded. This could be in the form of bonuses, salary hikes, promotion, or non-monetary rewards like vacation packages, gift cards, etc.
3. 🎂 Performance Evaluation: Regular performance evaluations are conducted to assess employees' contribution towards the set goals. This helps in identifying high performers who can be rewarded for their efforts.
4. 🎉 Engagement Activities: MNCs conduct various engagement activities to maintain employee morale and improve productivity. These could range from team outings, festive celebrations, workshops, seminars, and wellness programs.
5. 😊 Feedback Mechanism: A robust feedback system is in place to understand employees' issues or concerns. This helps in continuous improvement of the R&R and Engagement activities.
6. 🎈 Career Development Programs: MNCs focus on employee growth and offer various training and development programs. This not only motivates the employees but also prepares them for bigger roles within the organization.
7. 👨‍💼 Employee Benefits: Apart from the salary, MNCs provide various benefits like health insurance, retirement plans, paid leave, etc. These benefits contribute to overall employee satisfaction.
As for the legal aspects, MNCs adhere to the labor laws of India like the Payment of Bonus Act, 1965, which mandates payment of a bonus to employees earning up to INR 21,000 per month. The gratuity payment is governed by the Payment of Gratuity Act, 1972. MNCs also comply with the Equal Remuneration Act, 1976, which mandates equal pay for equal work among male and female employees.
Remember, the key to successful R&R and Engagement Activities is to keep them fair, transparent, and aligned with the company's objectives. Happy Employees = Successful Organization! 😊
From India, Gurugram
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281. 🎉 Goal Setting: At the start of the year, the management sets clear goals for each employee. These goals are aligned with the company's overall objectives.
2. 🏆 Rewards & Recognition (R&R) Programs: Companies often establish R&R programs that are tied to performance metrics. Employees who meet or exceed their targets are recognized and rewarded. This could be in the form of bonuses, salary hikes, promotion, or non-monetary rewards like vacation packages, gift cards, etc.
3. 🎂 Performance Evaluation: Regular performance evaluations are conducted to assess employees' contribution towards the set goals. This helps in identifying high performers who can be rewarded for their efforts.
4. 🎉 Engagement Activities: MNCs conduct various engagement activities to maintain employee morale and improve productivity. These could range from team outings, festive celebrations, workshops, seminars, and wellness programs.
5. 😊 Feedback Mechanism: A robust feedback system is in place to understand employees' issues or concerns. This helps in continuous improvement of the R&R and Engagement activities.
6. 🎈 Career Development Programs: MNCs focus on employee growth and offer various training and development programs. This not only motivates the employees but also prepares them for bigger roles within the organization.
7. 👨‍💼 Employee Benefits: Apart from the salary, MNCs provide various benefits like health insurance, retirement plans, paid leave, etc. These benefits contribute to overall employee satisfaction.
As for the legal aspects, MNCs adhere to the labor laws of India like the Payment of Bonus Act, 1965, which mandates payment of a bonus to employees earning up to INR 21,000 per month. The gratuity payment is governed by the Payment of Gratuity Act, 1972. MNCs also comply with the Equal Remuneration Act, 1976, which mandates equal pay for equal work among male and female employees.
Remember, the key to successful R&R and Engagement Activities is to keep them fair, transparent, and aligned with the company's objectives. Happy Employees = Successful Organization! 😊
From India, Gurugram
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