Policy Aim

We at Intech Insurance Surveyors believe that our people are our greatest assets and strategic partners in our
journey to achieve organizational objective. In furtherance of our stated philosophy, our Rewards and
Recognition Policy (R& R Policy) will help recognize superior performance at work in various spheres.

Objective:

To motivate and foster a productive work culture to achieve organization objectives.

To encourage employees to excel and take initiative, be creative and realize their potential individually and as
part of a team in contributing to the organization.

Scope:

This policy applies to any R&R schemes designed and implemented for Intech Insurance employees. This policy
defines the boundary conditions of reward and recognition schemes being implemented in the organization.
The approach and process should be consistent with these guidelines.

Principles

a. Rewards Properly
b. Recognize efforts
c. Reward Fairly with Defined objective
d. Reward in Time

Show it in a pictorial form

Eligibility criteria for Reward & Recognition

At Intech Insurance, the Reward & Recognition Policy aims at recognizing the contribution/achievements in the
following suggested areas:

 Team building/Team contributions

 Exemplary Inter-departmental collaboration
 Outstanding performance in achieving departmental / divisional objectives
 Encouraging, contributing and participating in quality, innovation and knowledge management
initiatives
 Developing/demonstrating cost consciousness
 Demonstrating the organizational values SACRED
 Significant contribution in Safety, Health and Environment areas
 Exemplary customer focus and responsiveness to customer
 Contribution to building competencies of other employees
 Practices aimed at achieving Sustainability in all aspects
 Exemplary contribution in employee engagement, business excellence and community engagement
initiative

Categories and Rewards

The awards and categories have beeb divided into following categories:

1. Individual / departmental Level Awards

2. Divisional & Organizational Level Awards
Individual / Departmental Level Awards

Thankyou Note and Certificate of Recognition

Purpose: To appreciate any good work done by the employee

To be givenby: Immediate supervisor / Section Head/ HOD

Criteria: Any good work done by employee

Frequency: As and when required

Process: Immediate Superiors recognize the contribution. The reward will be given on the spot.

Spot Awards (Departmental Level)

Purpose: To recognize employees on an instantaneous basis and make them feel that their work and ideas are
recognized “On the Spot”. This award can be in the form of a Certificate with a Momento.

Award:

 Momento / Gift Vouchers upto a value of Rs: 500 approved by HOD, of a level of atleast work level
MD2.
 Momento / Gift Vouchers upto a value of Rs: 2000, approved by HOD, of a level of atleast work level
MB2.

To be given by: Reporting Manager/ Operations Head

Criteria: Outstanding contribution in day to day work, knowledge sharing, good role model behavior.

Frequency: As and when required

Process:

 The reporting manager/ Operations Head can nominate an employee for getting this reward.
 The awards shall be given on the spot/ in regular departmental meeting.
 The expense for the award will be chargeable to the divisional budget.

Lunch with Divisional Heads / ED

Purpose: To encourage employee to perform well and keep their morale high by giving them timely
recognition from respective Divisional heads as well as give them the opportunity to present their achievement
to senior management.

To be given by: Divisional Head / Executive Directors

Criteria: Any significant achievement by an employee as verified by the Divisional Head

Frequency: Quarterly / Bi- annually

Process:

 The reporting manager shall put forward the nominations to departmental Heads and divisional HR
 Departmental Heads along with the Divisional Head will select the winners and lunch will be arranged
by Divisional HR with Divisional Heads/ED.

Valuable Award

Purpose: In order to recognize and promote behavior in line with the companys core values
Award: Memontos/ Gift Vouchers upto a value of Rs:500 approved by HOD, of a level of atleast work level
MD2.

To be given by: Section Head

Criteria: This award would be given to an employee who best demonstrates exemplary behavior in line with
the core values of the Company – (SACRED : Safety, Agility, Care, Respect, Ethics & Diligence).

Frequency: As and When required

Process:

 The reporting Manager / Operations Head can nominate an employee for getting this award.
 The award shall be given on the spot/ in regular departmental meeting.
 The expense for the award will be chargeable to the divisional cost center.

Reward and Recognition happening at a departmental level should be updated on the local notice Boards on
regular basis.

Zonal and Organizational Level Awards

a. Customer Service Award

b. Kalpak Award for best suggestion
c. Adarsh Trainee Award
d. Chetana Award

Zonal Excellence Award:

Purpose of the award:

Zonal awards seek to recognize exemplary contributions at the Zonal level. This is an award driven at the zonal
level, the winners will be recognized at the Organizational level.

Frequency: Annually

Categories: The Various categories under which the Divisional Excellence Awards will be given are:

a. Customer Service Award

Purpose: This Awards Seeks to recognize commitment towards superior customer service orientation and
setting new benchmarks of customer – centricity.

Award: Mementos of upto Rs: 1000+ recognition certificates - Trophy + certificate of Recognition for the
division

To be given by: Divisional Head – Senior Leaders at the Annual Excellence Awards Function

Criteria: As given in Annexure II

Frequency: Annual

Process: As illustrated in Fig2 - As illustrated in Fig 3

b. Adarsh Awards for the Power Trainee of the year

Purpose: This award is given to a trainee

For demonstrating excellence in learning the work from the company officials.

For demonstrating good behavioural qualities and getting well along with people.

For demonstrating ability to apply theoretical concepts to real life situations at the work place.

The performance ratings that the trainee gets.

For participation in various Companywide initiatives.

Award: Memonto / voucher of Rs.1000+ Recognition Certificate – Trophy+ Voucher of Rs. 3000+ Recognition
certificate

To be given by: Divisional Head – Senior Leaders at the annual Excellence Awards Function

Criteria: As given in Annexure III

Process: As illustrated in Fig2 – As illustrated in Fig 3

c. Kalpal Award for the Best Suggestion.

Purpose: To encourage employees to come forth with suggestions that can result in tangible benefits the
company e.g. cost savings, operational efficiencies, improved workplace morale etc.

This award may be given to an individual or a team.

Award:

Spot awards for suggestions as per the Spot Award guidelines.

Kalpak award for Best Suggestion at a Divisional Level – Memonto / Voucher of Rs.2000+ Certificate of
Recognition. – Trophy + Voucher of Rs.3000 +certificate of Recognition.

To be given by:

 Departmental/ Divisional Head for suggestion Spot Awards- Senior Leaders at the annual Excellence
Awards Function.
 Divisional Head for Kalpak Best Suggestion in a Division - Senior Leaders at the annual Excellence
Awards

Criteria: As given in Annexure - IV

Frequency:

 Suggestions can be rewarded through spot awards instantly. - Annual

 Kalpak awards for Best suggestions in Division at the annual Divisional Excellence Award functions.

Process:

 For the spot awards category, good suggestions may be rewarded by the departmental/ divisional
head directly as per the gifting guidelines given under the ‘Spot Awards’ category.
 For Kalpak Award for Best suggestion in Division Process as illustrated in Fig 2. – As illustrated in Fig 3

d. Chetana Award for the best Zone on People / HR Practices (at an organizational level)

Purpose: This award is instituted with the purpose of encouraging the divisions to achieve high engagement
levels, promote volunteerism, participation in work related activities like QC, 5S etc and ensuring discipline.
Award: Trophy + Certificate of Recognition for the Zone

To be given by: Senior Leaders at the Annual Excellence Awards Function

Criteria: As given in Annexure V

Frequency: Annual

Process: As illustrated in Fig 3

Process of Divisional Excellence Award Timeline

Divisional Head to seed nominations

By Jan as perjan
eveBy categories
every
By Dec every year
defined in R&R policy from all departments

Divisional level Award committee to be setup by

By Dec every year
Divisional Head

Committee to Evaluate the nominations received and By Dec every year

declate winners in each category

The winners of each category to be forwarded to HR for By Dec every year

consideration for Organizational Execellence Awards

Capturing improvement feedback, if any by HR On a Continuous basis

Improvement of process / policy, if required to be done

On a Continuous basis
by HR in collaboration with HO
Process of Organization Excellence Award

Formation of the Awards Committee by Head HR as a

Cross Functional team (CFT) for the selection of By Jan every year
awawardees

The winning entries from the Divisional Excellence Award By Feb every year
process to be evaluated by committee

Decision on the final awardees by the Committee By Feb every year

At the annual long

Winners to be felicitated on the Annual Awards Night service award
function

Capturing improvement feedback, if any, by HR

On a Continuous basis

Improvement of process / policy, if required, to be done

General Guidelines:
 The process of identifying, assessing and awarding should be communicated in advance to all. All
relevant employees must know the criteria beforehand.
 The Spontaneity of recognition (Principle: Reward in time) is very essential and it should be as soon as
the achievement or desired result is achieved
 It is important to understand that behind every award there is recognition. But for recognizing
someone, a reward is not always necessary (Principle: Recognize efforts).
 It is recommended that recognition is done in the presence of employee’s peers, colleagues and
family.
 Wherever, the achievement is department specific, it is responsibility of the Head of the Department
to plan and implement R&R plan in conjunction with Divisional HR.(Guidance may be sought from
Corporate HR if required).
 For all department level individual awards the Head of the Department shall ensure documentation of
the scheme and implementation and measuring effectiveness of the same and shall share the same
with HR
 Wherever usage of company brand is involved such as certification or merchandise, prior clearance
from Corporate Communications is required.
 For any exceptional occurrence or any action in public domain, not covered specifically by the above
guidelines, should be taken in consultation with HR
 Any exception of this policy requires the written approval of the MD of the Company.