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Award Policy
AWARD POLICY
TO: [First Name of employee] [Last Name of employee]
[Title of employee]
FROM: [First Name of employer] [Last Name of employer]
[Title of employer]
DATE: [Date]
RE: Employee Suggestion Program
The success of any organization is only as great as the people who contribute to it, and we recognize that innovative ideas which make us a leader in our industry start with you.
Through our Employee Suggestion Program, substantial savings may be realized for our Company, but more importantly, you may find a way to improve your daily work, reaping the personal benefits of self-expression, reward, and recognition. If you have a suggestion, pick up an ESP form and place it in the ESP in-box. If your idea is implemented, you will be rewarded with a bonus.
A suggestion is an idea that will improve the operations of the Company by increasing income; conserving money, time or materials; improving methods, procedures or equipment; or eliminating potential employee or customer safety hazards. It can be any idea that would result in a direct or indirect benefit in the day-to-day operations of the Company.
The minimum net award is $ and the maximum net award is $ [Maximum Award]. If your suggestion is expected to result in computable cost reductions or increased income, the net award will be equal to [Percentage of savings] % of the first years estimated net benefit to the Company. If your suggestion is expected to result in non-computable savings or cost reductions, you will receive a $ [Amount of award] award. If your suggestion is expected to result in non-financial benefits to the company, such as customer service, good will, improved facilities, etc., you will receive a $ [Amount of award] award.
Your ideas are important to us. We encourage you to use the program to keep developing new and better ideas and to participate enthusiastically in our Employee Suggestion Program.