Rewards & Recognition

Policy

Recognition Card Spot Award Exemplary Team Award Employee of the Month Award Employee of the Year Award

Purpose Phoenix Group recognizes the key factor in the success of the Organization is loyalty, quality and dedication of the people who work in it. The purpose of the Reward and Recognition Policy is to recognize and promote positive behaviors that support Individual, Work Group, Unit, Team, Department, Company’s Mission and Business Goals. This policy is also defined to encourage and to create a culture of our organization that celebrates success and to set example of high / remarkable performance. Coverage All Permanent Employees on payroll of Phoenix Group, except F&B and Hospitality Business. Types of Reward & Recognition Following are the types of Reward and Recognition identified to encourage the Individual performance and Team performance: 1. Recognition Card 2. Spot Award 3. Exemplary Team Award 4. Employee of the Month Award 5. Employee of the Year Award Basis / Rationale of Reward & Recognition All permanent employees are eligible to be nominated for either or all of the above awards if his / her exceptional efforts are in the following areas:

a) Dealt with challenges and acted towards problem solving for completion of assigned task.

b) His / her actions/ work / contributions have resulted in saving of time / cost. c) Noteworthy achievements which has increased customer centricity of the

organization. d) Quality of work that has set newer benchmark for others to follow. e) Delivered Innovative solutions at work and / or innovation at work which has

helped in saving of time / cost / enhancing profitability of the business etc. f) Working beyond the normal call of duty.

The Process

1. Recognition Card A Recognition Corner shall be created which will comprise of Recognition Card Holder with different types of Recognition Cards in it. Functional Manager / CD / PH / HOD can give the relevant card from the Recognition Corner and appreciate the good job done by the employee, instantly. This is not a monetary reward but a gesture to recognize an employee’s performance and their efforts to go the extra mile. 2. Spot Award The Spot Awards are designed to reward and recognize Individual employee for their exceptional efforts and working beyond their own responsibility. The Head of Departments(HOD) / Centre Directors(CD) / Project Heads(PH) will validate the contribution of an employee which has been identified by employee’s immediate functional superior as an exceptional contribution as stated above (Rationale of the award). The HOD will give the Recognition Card to the employee and will notify the HR with a brief explanation of employee’s contribution. The HR will provide the award and the certificate as mentioned in the policy to the HOD/CD/PH to be handed over to the employee in front of his team. An employee will be awarded with an appreciation letter along with a Gift/Gift voucher worth Rs. 1000/- (Rupees Thousand only). One employee can receive a maximum of three spot awards in a financial year. In case an employee receives three spot awards, the employee will be awarded with additional gift voucher / gifts in kind worth Rs. 2000/- (Rupees Two Thousand only). The maximum limit of Spot Award will not be more than 10% of the Staff strength in a Mall / Project / HO in a given quarter. The quarterly budget for each mall / project / HO shall be shared with the respective teams by corporate HR. 3. Exemplary Team Award The ‘Exemplary Team Award’ is designed to reward and recognize Cross Functional Team (CFT)/ inter department team for their exceptional efforts and working beyond their own responsibility. The HOD/ CD / PH will validate the contribution made by the team as an exceptional contribution as stated above. Further, they will notify the HR in the prescribed format

(refer annexure A) with explanation of team’s contribution. The HR representative will provide the award and the certificate as mentioned in the policy to the HOD / CD / PH. In case of HO, through a committee of HODs of various departments. A maximum of 2 awards in a given financial year can be given by each mall / project / HO. The winner team will be awarded with an appreciation letter along with a Gift / Gift voucher worth Rs. 10000 /- (Rupees Ten Thousand only). HR shall give the Exemplary Team Award & certificate to the HOD/CD/PH. The Award shall be presented by the HODs / CDs / PHs during the monthly team meetings or any other month end events / celebrations organized by HR or within 3 weeks from the declaration of the award whichever is earlier. 3. Employee of the Month It is designed to reward and recognize an individual employee for his / her significant contribution in achieving organization goals, works with cost and quality awareness, has consistently raised performance bar and has been continuously working beyond his / her own responsibility.

The Functional Heads of different functions of Mall, Projects, Corporate shall give their nominations in the prescribed format (refer annexure B & C) to HR who will collate all the data and forward to HOD / CD / PH. A panel will be called for, for final jury discussion to identify a winner. Panel to comprise of GM & Above for any Mall / Projects or HO. The Employee of the Month award will not be applicable for GM & Above at any locations. The HOD / CD / PH along with the panel will evaluate the nominations and will decide the winner. The winner details shall be provided to HR who will arrange for the certificate and award. The HOD / CD / PH shall handover the award to the winner. The final date for receiving the nomination will be every 26th of the month.

The nomination list will be consolidated by HR and shall be forwarded to the HOD/CD/PH within two working days from the last day of receiving the nominations.

The award will be given in first week of subsequent month in monthly team meetings or any other month end events / celebrations organized by HR.

An employee will be awarded with a Certificate along with a gift / gift voucher worth Rs. 2000 /- (Rupees Two Thousand only) 4. Employee of the Year Award The Employee of the year Award is designed to appreciate and reward an Individual employee for the outstanding performance in or beyond their work area.

‘Employee of the Year’ to be selected from the list of ‘Employee of the Month’ This award will be given to one employee chosen by the jury which will comprise of GM & Above at respective centre / projects / HO. GM & Above will not be eligible for the award. This award will be an annual award and will be handed over to the selected employee during an event at each centre, Projects, by the CD / PH / HOD in the month of April every year for the preceding year. The winner of this award shall be sponsored a holiday package by the company for 2 people. The package will be solely decided by the company. General:

In case of no extra ordinary contribution, no reward will be announced in the particular month.

Corporate HR to be responsible for administering the scheme. This shall include designing the certificate (Content, Logo etc.), all email communications to employees, communication updates in HR Connect etc.

None of these awards can be converted into any other monetary benefits / cash An award under the program does not confer the right for any promotion / up-

gradation, etc. Tax liability (if any) arising out of the above payments, will be borne by the

individual employee as per the IT Act. For being eligible to receive a Reward under this policy, the employee should be

on the regular rolls of the Company at the time of nomination and on the day of the recognition.

Any deviations to this policy to be approved by the undersigned. Management reserves the right to alter or modify this policy suitably from time to time. Any clarification or interpretation of this policy may be referred to the Regional / Corporate HR dept.

Effective Date

This policy will be effective 1st July 2015

Annexure: Templates for Reward and Recognition:

A. Nomination Template for ‘Exemplary Team Award’

B. Nomination Template for ‘Employee of the Month’

C. Supporting to Annexure B.

1 Mr. ABC2 Mr. DEF3 Mr. GHI4 Mr. JKL5 Mr. MNO6 Mr. PQR

Reason for Team Award Please specify the acheivement by the Team

TEMPLATE FOR EXEMPLARY TEAM AWARD

Sr. No: Team Members

Saving of time / Cost

QualityImprovement in

Customer CentricityExemplary Team

Spirit / Team WorkInnovation

at WorkWorking beyond the normal call of duty

1 Mr. ABC 3 3 2 1 2 3 142 Mr. DEF 4 5 5 3 3 3 233 Mr. GHI 4 4 2 3 3 3 194 Mr. JKL 3 2 2 2 2 4 155 Mr. MNO 4 2 2 4 4 3 196 Mr. PQR 3 3 2 4 3 5 20

* In case of tie of scores between 2 participants, CD/HOD/PH to evaluate the task accomplished and decide on the winners

Criteria (1 - 5, 1 being the lowest and 5 being the highest)

Sr. No: Employee Name

TEMPLATE FOR R&R NOMINATIONS

Total

1 Mr. ABC

2 Mr. DEF

TEMPLATE FOR DETAILS OF ACHIEVEMENT

Sr. No: Employee Name Please specify the acheivement by the Individual