Chosen Topic for Presentation & Discussion

“Rewards and Recognition of employees”

Justification for Choosing the Topic – Rewards and recognition of Employees

MFL is now having 3000+ staff at branches controlling attrition and retaining trained employees in the company is a challenging task. This is the time to discuss retention of trained employees with rewards and recognition of efficient staffs.

RecruitmentRecruitment

1. Employees are the backbone of any retail establishments. Staff with qualities like agressive marketing, sales, morality, honesty and dedication are the assets of the company.

2. Hiring right person for the perticuler task is a main concern of the company.

Training And Empowerment

• Proper training and empowerment of staff against there KRA to fine tune the staff to get maximum out their potentiality.

Retention of employees• In the growing industry attrition is a

continuous process. It can be controlled by proper rewards and recognition of staff time to time.

• Loosing of trained, fine tuned staff is great loss to the company which cost money, valuable time .

How to control Attrition ?

• Rewards and Recognition are the only ways to control attrition and retain trained man power.

• Rewards, recognition, Motivational programmes, trainings will make the staff comfortable in the organization.

Rewards

• Offering attractive rewards such as Incentives, Increments, Gift vouchers , Mementos saying achievements (Best performer, Month performer )etc.. Are the good rewards for staff.

• Note : Rewards should motivate the staff for higher goals.

Recognition of Employees

• In the companies like MFL having thousands of Employees is possible with proper efficiency management MIS.

• The recognized staff should be rewarded with timely increments , Promotions against their performance.

• Utmost care should be taken • For outstanding staffs duration in present position should not be a

constraint for promoting them to higher positions.

• Note : That “ Good team player may not be a good team leader”. So, leadership qualities should be assessed for decision.