Hi Our company would like to introduce Long Service award for which we need to draft a Policy. Can anyone share the draft policy? Kindly help.
From India, Hyderabad
From India, Hyderabad
Hello Kittu,
That is good decision! Certainly it will help you in retaining your employees. However, I would suggest to keep certain eligibility criteria too to get the dual benefit - i.e. better performance and company goodwill.
Please email me your company details on
to help you in this.
With best regards,
Vaishalee Parkhi
HR Consultant, Soft & Behavioral skills Trainers
Chinchwad, Pune
https://in.linkedin.com/in/vaishalee-parkhi-6b09ab62
From India, Pune
175That is good decision! Certainly it will help you in retaining your employees. However, I would suggest to keep certain eligibility criteria too to get the dual benefit - i.e. better performance and company goodwill.
Please email me your company details on
With best regards,
Vaishalee Parkhi
HR Consultant, Soft & Behavioral skills Trainers
Chinchwad, Pune
https://in.linkedin.com/in/vaishalee-parkhi-6b09ab62
From India, Pune
Draft
POLICY STATEMENT
The Long Service Policy provides (Company Name) with a mechanism to recognise and reward the contribution and loyalty of employees when a Long Service anniversary is reached.
WHO THE POLICY COVERS
This policy covers all employees based within the INDIA and Abroad.
PRINCIPLES
The Long Service Award approach is based on the following key principles
•Employees are recognised consistently regardless of the area of the Group in which they work.
•Employees are recognised equally regardless of grade
•The Long Service Award scheme is tax efficient ensuring employees don’t incur any Benefit in Kind tax liability.
CORE POLICY PROVISIONS
•Long service will be rewarded at set anniversaries and will take the form of a tangible gift which can be selected from the Group Long Service internet site.
•The values of the awards are:
20 Years service = gift to the value of Rs.10000
25 Years service = gift to the value of Rs.15000
30 Years service = gift to the value of Rs.20000
35 Years service = gift to the value of Rs.25000
40 Years service = gift to the value of Rs. 30000
Eligibility criteria
To qualify for an award employees need to:
•Be employed by a company within the Group on the date of their Long Service Anniversary
•Have reached one of the key milestones by being employed continuously for a total of either 20, 25, 30, 35 or 40 years
•Have length of service of 20, 25, 30, 35 or 40 years, excluding any period where they had taken a period of Career Break.For example; an employee works for 10 years and then takes a Career Break for 2 years. On their return to the Group they would need to work a further 10 years in order to qualify for a 20 year Long Service Award.
•Have been transferred to the Group from another employing company under the Transfer of Undertaking (Protection of Employment) Regulations (TUPE) and will have their total service considered for the purposes of Long Service anniversaries at 20, 25, 30, 35 and 40 years.
Gift Options and Redemption
•Employees will have a period of 6 months in which to choose their gift.
•All employees will be able to choose their gift as per Value. It is not possible to source awards from any alternative provider.
From India, Kolkata
POLICY STATEMENT
The Long Service Policy provides (Company Name) with a mechanism to recognise and reward the contribution and loyalty of employees when a Long Service anniversary is reached.
WHO THE POLICY COVERS
This policy covers all employees based within the INDIA and Abroad.
PRINCIPLES
The Long Service Award approach is based on the following key principles
•Employees are recognised consistently regardless of the area of the Group in which they work.
•Employees are recognised equally regardless of grade
•The Long Service Award scheme is tax efficient ensuring employees don’t incur any Benefit in Kind tax liability.
CORE POLICY PROVISIONS
•Long service will be rewarded at set anniversaries and will take the form of a tangible gift which can be selected from the Group Long Service internet site.
•The values of the awards are:
20 Years service = gift to the value of Rs.10000
25 Years service = gift to the value of Rs.15000
30 Years service = gift to the value of Rs.20000
35 Years service = gift to the value of Rs.25000
40 Years service = gift to the value of Rs. 30000
Eligibility criteria
To qualify for an award employees need to:
•Be employed by a company within the Group on the date of their Long Service Anniversary
•Have reached one of the key milestones by being employed continuously for a total of either 20, 25, 30, 35 or 40 years
•Have length of service of 20, 25, 30, 35 or 40 years, excluding any period where they had taken a period of Career Break.For example; an employee works for 10 years and then takes a Career Break for 2 years. On their return to the Group they would need to work a further 10 years in order to qualify for a 20 year Long Service Award.
•Have been transferred to the Group from another employing company under the Transfer of Undertaking (Protection of Employment) Regulations (TUPE) and will have their total service considered for the purposes of Long Service anniversaries at 20, 25, 30, 35 and 40 years.
Gift Options and Redemption
•Employees will have a period of 6 months in which to choose their gift.
•All employees will be able to choose their gift as per Value. It is not possible to source awards from any alternative provider.
From India, Kolkata
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Company Profile - Service Segment.doc