F-04-01(E - REWARDS)
giving reward points to the employees according to the activities like hackathon participation or event organizing etc..and give them reward points
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An employee who has been rewarded is often more motivated to remain with the company. It can cost a business quite a bit to deal with the loss of old employees and the training of new ones. Rewards, given to employees who are considering leaving the company, may increase your employee retention statistics and decrease your long-term training costs. by considering the above factors we are developing an application called "Employee rewards" (E - Rewards) , an idea to motivate employees towards work by awarding them with reward points. the reward points can be given on the basis of participating and conducting hackathons, events and activities like sports and cultural programs and forming and organizing new clubs etc... The employee can spend those reward points at the places like cafeterias, child care centres, employee recreation centres which include sports columns (badminton courts, cricket grounds, table tennis etc...), gymnasiums and yoga centres. Rewards can be tangible or intangible. Intangible rewards includes praising or recognition or thanking. Tangible rewards include incentives that can be changes into money, gift coupons etc... E - rewards are intangible which can be converted into tangible. the difference we would like to show from conventional rewards is that the reward points can be used at any available place where as normal rewards are confined to a specific field. for example if a gift coupon is given to the employee for shopping in a specific place if the person is unable to use them due to any reason the rewards will be wasted.where as in case of E - Rewards the person can use the reward points at the confined places by the organization.
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