Rewards System at Tcs
REWARDS SYSTEM AT TCS
INTRODUCTION
* DESIGNING A REWARD PROGRAM
The key characteristics of developing a reward program are as follows: Identification of company or group goals that the reward program will support. Identification of the desired employee performance or behaviors that will reinforce the company’s goals. Determination of key measurements of the performance or behavior, based on the individual or groups previous achievements. Determination of appropriate rewards. Communication of program to employees.
Reward systems are concerned with two major issues: performance and rewards. Performance includes defining and evaluating performance and providing employees with feedback. Rewards include bonus, salary increases, promotions, stock awards, and perquisites. * Large corporations with several different businesses may have multiple reward systems. And while they may share some fundamental philosophies and values, they may differ according to the particular business setting, competitive situation, and product life cycle. Thus, multiple reward systems can support multiple cultures within one organization. * These components will be designed, developed and maintained on the basis of reward strategies and policies which are created within the context of the organizations between strategies, culture and environment:
1. Improve Organizational Effectiveness: Support the attainment of the organizations mission, strategies, and help to achieve sustainable, competitive advantage.
2. Support and Change Culture: Under pin and as necessary help to change the organizational culture as expressed through its values for performance innovation, risks taking, quality, flexibility and team working.
3. Achieve Integration: Be an integrated part of the management process of the organization. This involves playing a key role in a mutually reinforcing and coherent range of personal policies and process.
4. Manageable: It helps to manage the undue administrative
INTRODUCTION
* DESIGNING A REWARD PROGRAM
The key characteristics of developing a reward program are as follows: Identification of company or group goals that the reward program will support. Identification of the desired employee performance or behaviors that will reinforce the company’s goals. Determination of key measurements of the performance or behavior, based on the individual or groups previous achievements. Determination of appropriate rewards. Communication of program to employees.
Reward systems are concerned with two major issues: performance and rewards. Performance includes defining and evaluating performance and providing employees with feedback. Rewards include bonus, salary increases, promotions, stock awards, and perquisites. * Large corporations with several different businesses may have multiple reward systems. And while they may share some fundamental philosophies and values, they may differ according to the particular business setting, competitive situation, and product life cycle. Thus, multiple reward systems can support multiple cultures within one organization. * These components will be designed, developed and maintained on the basis of reward strategies and policies which are created within the context of the organizations between strategies, culture and environment:
1. Improve Organizational Effectiveness: Support the attainment of the organizations mission, strategies, and help to achieve sustainable, competitive advantage.
2. Support and Change Culture: Under pin and as necessary help to change the organizational culture as expressed through its values for performance innovation, risks taking, quality, flexibility and team working.
3. Achieve Integration: Be an integrated part of the management process of the organization. This involves playing a key role in a mutually reinforcing and coherent range of personal policies and process.
4. Manageable: It helps to manage the undue administrative