So how has Emami gone about implementing its strategic focus on bringing in openness, a sense of family bon
ding and trust among Emami’s employees? “We prefer to listen to employees and learn by working together. It helps employees feel secure and gives them the comfort edge. Amazingly, we’ve never had even a single man day loss; and not even in our factories,” Ratna is quite assertive in her statement. Is that because of the rewards and recognition system in Emami? Partly accepting, Ratna throws a side punch at me, when she says that the one thing that is very hard to find in this world is an employee who is satisfied with his salary and does not seek rewards and recognition. And today, when attrition rates are skyrocketing, one needs to pay proper attention to this particular function too.
Creditably, Emami’s ‘Reward & Recognition Program’ acts as a “catalyst” in the system and is of utmost importance for Emami. Though I knew the answer, I still was curious: How important is ‘money’ in this whole process of recognition in Emami? “Recognition can be surely done via other methods too. Today, people are anyway earning ‘fat’ salaries and hence ‘non-monetary recognition’, apart from monetary incentives, is a ready welcome. Emami, like other companies, is thinking of many innovative ways,” debates Ratna. And the innovative list includes ‘Congratulatory’ and ‘Appreciation’ letters from the top management, gifts, spot awards and promotions, apart from giving higher responsibility to the employee. Interestingly, Emami also has a very fashionable glam-award event on the Emami family day, where they award the titles of ‘Mr. Elegant’ and ‘Ms. Elegant’, obvious references to the well dressed Emami employees.
For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2008
ding and trust among Emami’s employees? “We prefer to listen to employees and learn by working together. It helps employees feel secure and gives them the comfort edge. Amazingly, we’ve never had even a single man day loss; and not even in our factories,” Ratna is quite assertive in her statement. Is that because of the rewards and recognition system in Emami? Partly accepting, Ratna throws a side punch at me, when she says that the one thing that is very hard to find in this world is an employee who is satisfied with his salary and does not seek rewards and recognition. And today, when attrition rates are skyrocketing, one needs to pay proper attention to this particular function too.Creditably, Emami’s ‘Reward & Recognition Program’ acts as a “catalyst” in the system and is of utmost importance for Emami. Though I knew the answer, I still was curious: How important is ‘money’ in this whole process of recognition in Emami? “Recognition can be surely done via other methods too. Today, people are anyway earning ‘fat’ salaries and hence ‘non-monetary recognition’, apart from monetary incentives, is a ready welcome. Emami, like other companies, is thinking of many innovative ways,” debates Ratna. And the innovative list includes ‘Congratulatory’ and ‘Appreciation’ letters from the top management, gifts, spot awards and promotions, apart from giving higher responsibility to the employee. Interestingly, Emami also has a very fashionable glam-award event on the Emami family day, where they award the titles of ‘Mr. Elegant’ and ‘Ms. Elegant’, obvious references to the well dressed Emami employees.
For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2008
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