Q: From one of our members: "I am looking for sample policy statements on spot rewards. If you don't have a written statement, I would still appreciate learning any dollar guidelines you apply."
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The rewards range from $25 - $250 (grossed up by some). Everyone seems to be in basic agreement for the reason behind the reward - going above and beyond the call of duty, or on the smaller scale for one employee to say thank you to another. One respondent indicated that the plan applies to Directors and below (our current plan applies only to those below manager).
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We have a more generic Achievement Award program that is used as a vehicle for recognizing achievements outside of the normal scope of the job. I've attached a copy of it and the form the person would complete.
Generally, the award is between $250 to $750 (the award is grossed up to back out taxes), however the manager can write in a larger or smaller dollar amount. In some cases they want to give a non-cash award such as a dinner for two to a nice restaurant. And by law these awards are taxable to the employee.
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It is so tricky to recognize individuals and keep a team focus. We have an annual award for the most significant accomplishments you can see below we recognize different types of scientific contributions in these. This program is accompanied by a quarterly program that focuses more on teams and a spot type program. Please let me know if you have specific questions. Good luck! Deanna
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Top level-annual awards
An award will be given for exemplary performance based on positive achievements by individuals and/or teams, and to recognize those who demonstrate innovation and dedication to their work and a commitment to excellence.
- Award 1 for breakthroughs in scientific technology innovations
- Award 2 for milestone achievements in product developments, collaborations, etc.
- Award 3 for stars who have done
Special achievements and/or made special proposals that are dramatically impacting business development, e.g. cost savings and efficiencies, etc.
- Eligibility: all regular full-time employees (excluding vice-presidents and above) based on solicited nominations.
- Frequency: annually with presentation at the beginning of the new year.
- Award limit: allows up to 5 individuals and/or small teams of 3 people or less to be awarded annually.
- Award: will be a combination of cash and stock options
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Disclosure
The following are a collection of thoughts, ideas and information shared among BEDC members for the purpose of general informational exchange. The information provided has not had a legal review; and does necessarily reflect the employment laws of any or all of the fifty states.
BEDC asks you to use these samples for information only as you research, determine, validate your own organization's policies, practices, and culture.
BEDC makes no representations to the soundness of the examples or the express or implied opinions and guidance contained therein.
"Not professional advice - If you need specific advice (for example, medical, legal, financial, or risk management) please seek a professional who is licensed or knowledgeable in that area."
BEDC asks you to use these samples for information only as you research, determine, validate your own organization's policies, practices, and culture.
BEDC makes no representations to the soundness of the examples or the express or implied opinions and guidance contained therein.
"Not professional advice - If you need specific advice (for example, medical, legal, financial, or risk management) please seek a professional who is licensed or knowledgeable in that area."
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- The Biotech Employee Development Coalition of San Diego
- BEDC SD consists of more than 100 companies from the San Diego area who have joined together to promote professional and corporate growth in the life sciences and affiliated industries. BEDC is the regionally recognized provider of human resources information to the San Diego life sciences industry.
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