Team Members:Swapnil (096)Thillai (097)Amol (106)Shalini (080)Richa (064)Rohit (074)Rahul (060)
Coromandel Fertilizers limited is a leading company in India manufacturing a wide range of fertilizers and plant protection products (technical & formulations).
Started in1964, Owned by Murugappa Group Total number of employees 357 Total number of factory workers 225
Organisational success is driven by satisfied & motivated employees.
Satisfaction & motivation can be enhanced through rewards & recognition.
Any organizational reward system has three behavioral objectives:
1. membership behavior to recruit and retain a sufficient number of qualified workers
2. task behavior to motivate employees to perform to the fullest extent of their capabilities
3. compliance behaviour to encourage employees to follow workplace rules and undertake special behaviours beneficial to the organizations without direct supervision or instructions
Intrinsic motivation :refers to motivation that comes from inside an individual rather than from any external or outside rewards, such as money or grades.
Extrinsic motivation :comes from outside of the performer. Money is the most obvious example, but coercion and threat of punishment are also common extrinsic motivations.
Awards at
Coromandel Fertilizerds limited
Team Awards:◦ Gallop T-12 Questionnaire◦ Team with highest score team will get the award
Zone wise awards:◦ Company divided in 14 zones◦ 5S award after audit
Individual Awards:◦ Fast Track employees- Blue eyed employees◦ Succession planning◦ ELP- Executive Leadership Program
24 from whole group◦ BLP-Business Leadership Program
7 employees◦ Best Employee of Department known as Maximizer◦ Birthday mail & Poster
Unsung Hero◦ Appreciated in In-house magazine
Recognition given to Family of Employees◦ Children’s performance flashes on company’s portal system&
printed in magazine Long Service Awards
◦ People above 25 years of experience Suggestion Awards
◦ Best Suggestion◦ Highest number of implemented suggestions
Recognition of 5S auditors◦ Both management & Workers
Intrinsic Awards…
Regular yearly Appraisal Best performer of the year
◦ Award money Rs. 60,000 ◦ Given to 2 management staff & 2 workers
Maximizer◦ Given to 3 top performers of the company◦ Based on 17 factors & weight age is different for all factors which is
not known to even department head◦ Award money Rs.15000
Fast track employees ◦ get promotion every 6 months◦ with variable pay
Performance bonus at the end of year
Tailor rewards to individual interests, needs, desire Senior management support and involvement Include employees/managers in design and implementation Keep programs simple and easy to administer Match the reward to the achievement Communicate, Communicate, Communicate! Be timely and specific Make sure each employee understands what they did to earn the
reward
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