Purpose:
Service Awards are granted to employees in recognition of their long period of service with the company, the commitment they have made, the loyalty they have demonstrated and in celebration of their having achieved major career milestones.
Eligibility:
All permanent employees, on completion of a prescribed number of calendar years of service with the company, are entitled to the awards.
[The tenure for the award depends upon company policy and could be for 5, 10, 15, 20, 25, 30 and 35 calendar years of service. In some companies, it’s also awarded on retirement.]
Policy:
- Service tenure is calculated from the date you join the company subject to the following [these are illustrative conditions and depend upon company policy]:
- Any period of leave-without-pay that you take in excess of 30 calendar days and any period of unpaid parental leave will not included as service,
- If you take more than 30 calendar days of leave-without-pay at a time, the entire period of leave-without-pay will not be counted as service, and
- If you resign and rejoin the company after more than 5 consecutive business days, your entire previous service will not be reckoned for the purpose of the awards.
- The value and type of awards depend upon company policy, and could start at a price level of INR _______. They typically include:
- Glass/Silver/Gold plaque with company logo
- Gift items* that the employee could choose from those listed in the Service Awards catalogue, such as:
i. Gold plated coin
ii. Watch
iii. Desk clock
iv. Gold plated cufflinks or brooch
v. Other select lifestyle items.
*The choice of gifts that are offered are subject to change, depending on price fluctuations. The Brooch, Coin and Cufflinks, hand crafted by reputed jewelers, could be of Sterling Silver (92.5%) with 18K gold plating.
Procedure:
Step 1: List of the employees completing the prescribed tenures of service in a quarter is compiled a quarter in advance, by the HR shared services. For example, the process of compiling the list for the quarter Jan-Mar, would be initiated in the Oct-Dec quarter, the previous year.
Step 2: The list is then sent to the respective business HR for validation and inputs, if any
Step 3: After validation, the Head of HR sends email to all employees announcing the names of employees being recognized for their loyalty and service.
Step 4: Respective Business Heads then send individual (personalized mail) mails to the concerned recipients, in their businesses. This mail mentions the choice of gifts available for the employee to choose from. Employees respond with their choice at the email specially created by HR shared services.
Step 5: HR shared services procures the required gifts from the vendor and provides the same to the business HR.
Step 6: HR shared services coordinates with Finance on vendor invoicing and the applicability of taxes
Step 7: Business HR and Business Head decide on mode of distribution of awards - Town hall, Business meetings, etc.
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