INTRODUCTION

What is for me? That is a question every person consciously

or unconsciously asks before engaging in any form of behavior.
Obviously then it applies to all employees in an organization.
Whether dealing ith monkeys! rats or human beings! it is
hardly controversial to state that most organisms seek information
concerning hat activities are rearded! and then seek to do "or at
least pretend to do# those things.
$ike a child being given a chocolate and a big hug after
cleaning her room! reards and recognition can be poerful tools for
employee motivation and performance improvement. %eople are
patrons of organization. &t's people ho make an organization a
success or allo it to be handed over to (oard for industrial and
financial reconstruction. )o today the main thrust area of study is to
attract and retain people.
1
Reward System
*at pay package! quicker promotions and incentives are not
enough any more. +mployers need to listen hat employees ant.
, -reard' or -incentive' can be anything that attracts a orker's
attention and stimulates him to ork.
&n the ords of (ureckm and )mith reard systems is a plan
or programme to motivate individual or group performance. ,n
incentive programme is most frequently built on monetary reards!
but also includes a variety of non.monetary reards or prizes
On the other hand *rench says the incentive system has a
limited meaning that e/cludes many kinds of inducements offered to
people to perform ork! or to ork up to or beyond acceptable
stands. &t is related ith age payment plans hich tie ages directly
or indirectly to standard productivity or to the profitability of the
organization or both criteria.
The use of incentives assumes that people's actions are related
to their skills and abilities to achieve important longer run goals. +ven
though many organization by choice or by tradition or contract. &n
fact reards on non performance criteria! reards should be regarded
as a pay off the performance.
0ack 1igon defines reards as something that increase
frequency of an employee action. This definition points to an obvious
desired outcome of reards and recognition2 to improve performance.

2
An incentive plan has following important features 2.
3. ,n incentive plan may consist of both -monetary' and -non.
monetary' elements. 4i/ed elements can provide the diversity
needed to match the needs of individual employees.
5. The timing! accuracy and frequency of incentives are the very
basis of a successful incentive plan.
6. The plan requires that it should be properly communicated to
the employees to encourage individual performance! provide
feedback and encourage redirection.
3
Determinants of Rewards
These features are contingencies! hich affect the suitability and
design of reards to varying degrees. The effective use of reards
depends on 6 variables.
&ndividual
Work situation
&ncentive plan
! The individual and the rewards 2
7ifferent people value things differently. +nlightened managers
realize that all people do not attach the same value to monetary
reards! bonuses! prizes or trips. +mployees' vie these things
differently be of age! marital status economical need and future
ob8ectives .hoever even though employees' reaction to reards
varies greatly! reards must have some redeeming merits. *or e.g.
there might be a no of monetary and non monetary reards to
motivate employees.
"! The wor# situation $
This is made up of four important elements!
4
% Technology$
4achine or ork system! if speed of equipment operation
can be varied! it can establish range of the reards.
5# Satisfying &o' Assignment2
, orker's 8ob may important a number of activities that he finds
satisfying. 9eards may take the form of earned time off! greater
fle/ibility in hour orked! e/tended vacation time and other privileges
than individual values.
(% )eed'ac#$*
, orker needs to be able to see connection beteen orks and
reards. These responses provide important reinforcement.
+% ,-uity$*
Worker considers fairness or reasonableness as part of the
e/change for his ork.
5
9eards in general are important motivator. Their effectiveness
depends upon 6 factors.
7rives
%reference value and
)atisfying value of the goal ob8ects.
Types of Rewards

There are a number of ays to classify reards. We have
selected three of the more typical dichotomies$ intrinsic versus
e.trinsic rewards/ financial versus non*financial rewards/ and
performance*'ased rewards! These categories are far from being
mutually e/clusive.
Intrinsic versus ,.trinsic Rewards
&ntrinsic reards are the satisfactions one gets from the 8ob
itself. These satisfactions are self. initiated reards! such as having
pride in one's ork! having a feeling of accomplishment! or being part
of team. These techniques of 8ob enrichment! shorter ork.eeks!
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fle/.time and 8ob rotation can offer intrinsic reards by providing
interesting and challenging 8obs and alloing employee greater
freedom.
+/trinsic reards include money! promotions and fringe
benefits. Their common thread is that they are e/ternal to the 8ob
and come from an outside source! mainly management. Thus! if an
employee e/periences feelings of achievement or personal groth
from a 8ob! e ould label such reards as intrinsic. &f the employee
receives a salary increase or rite.up in the company magazine! e
ould label those reards as e/trinsic.
4otivational researchers had generally assumed that intrinsic
and e/trinsic reards ere independent: that is! the stimulation of
one ould not affect the other. ;oever! research conducted in the
late 3<=>s and early 3<?>s suggested that this assumption might be
in error.
+arly e/periments designed to test the independence
assumption tended to support the proposition that hen e/trinsic
reards like money! promotions or fringe benefits ere used as
payoffs for superior performances! the internal reards! hich are
derived from the individual doing hat he or she likes! ere reduced.
The e/planation for these occurrences ent something like this. *or
money or other e/trinsic reards to be used as effective motivators!
they should be made contingent on the employee's performance. (ut
hen this is done it decreases the internal satisfaction the employee
gets from doing the 8ob. What has happened is that an e/ternal
stimulus has been substituted for an internal one.
)inancial versus Non financial Rewards
7
9eards may or may not enhance the employee's financial ell.
being. &f they do! they can do this directly. through ages! bonuses!
profit sharing and the like: or indirectly. through supportive benefits
such as pension plans! paid vacations! paid sick leaves and purchase
discounts.
@onfinancial reards cover a smorgasbord of desirable things
that are potentially at the disposal of the organization. Their common
link is that they do not increase the employee's financial position.
&nstead of making the employee's life better off the 8ob! non financial
reards emphasize making life on the 8ob more attractive. The non
financial reards that e ill identify represent a fe of the more
obvious: hoever! the creation of these reards is limited only by
managers' ingenuity and ability to assess payoffs ithin their
8urisdiction that individuals ithin the organization find desirable.
The old saying one man's food is another man's poison applies
to entire sub8ect of reards! but especially to the area of non financial
reards. What one employee vies as something & have alays
anted! another finds superfluous. Therefore care must be taken in
providing the right non financial reard for each person: yet here
selection has been done assiduously! the benefits to the organization
should be impressive.
)ome orkers are very status conscious. , paneled office! a
carpeted floor! a large alnut desk or a private bathroom may be 8ust
office furnishing that stimulates an employee toard top
performance. )imilarly status oriented employees may value an
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impressive 8ob title! their on business cards! their on secretary or
a ell. located parking space ith their name clearly pained
underneath the 9eserved sign.
)ome employees value having their lunch beteen one and to
o'clock in the afternoon. &f lunch is normally from eleven in the
morning until noon! the benefit of being able to take their lunch at
another! more preferred! time can be vieed as a reard. ;aving a
chance to ork ith congenial colleagues and achieving a desired
ork assignment or an assignment here the orker can operate
ithout close supervision are all non financial reards that are ithin
the discretion of management and! hen carefully used! can provide
stimulus for improved performance.
0erformance*1ased versus 2em'ership*1ased Rewards
The reards that the organization allocates can be said to be
based on either performance criteria or membership criteria. While
the managers in the most organizations ill vigorously argue that
their reard system pays off for performance. *e organizations
actually reard employees based on performance.
%erformance.based reards are e/emplified by the use of
commissions! pieceork pay plans! incentive systems! group bonuses
or other forms of merit plan. On the other hand! membership.based
9
reards include cost.of.living increases! profit sharing! benefits and
salary increases attributable to labour market conditions! seniority or
time in rank! credentials "such as collage degree or a graduate
diploma#! or future potential "the recent 4.(., out of a prestigious
university#. The demarcation beteen the to is not alays obvious.
*or instance! company paid membership in a country club or use of
company.oned automobiles and aircraft by e/ecutive may be given
for membership or performance. &f they are available to! all middle
and upper level e/ecutives! then they are membership based.
;oever! if they are made available selectively to certain managers
based on their performance rather than their entitlement! hich of
course implies they can also be taken aay! e should treat them as
performance.based reards for those ho might deem them
attractive.
Advantages of the 0erformance Related pay 30R0% scheme
&ncentives are linked to meeting targets or ob8ectives! as ell
as to the quality of performance as perceived by superiors.
$inking pay to performance that lends itself to measurement is
considered fairer then aarding across.the.board cost of living
increases! hich do not discriminate beteen high and lo
performers.
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Where employees' performance can be measured and the
amount of money available to reard performance is sufficient
to module effort! it saves money if the organization targets
reards on those ho performs.
;igh performers are attached to %9% culture in the knoledge
that pay is linked productive effort and that poor achievement is
discouraged.
+mployees receive useful feedback on their performance.
There is an emphasis on a result oriented culture! ith the
accent on effort directed at activities that the organization
values.
Disadvantages of the 0R0 scheme
(ehavior is rearded! hich one ould e/pect to occur any
ay in accordance ith the employment contract. ;ere good
performance is e/pected and provision is made for it and here
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there is a poor performance it is 8ob of the management to sort
it out.
Open communication beteen managers and subordinates
could be discouraged! because subordinates are less likely to
divulge information on personal short comings 8ust in case such
disclosures act to their disadvantage.
The rearding of self.centered individualism can undermine
the co.operation and team ork! hich are necessary for
coping ith today's climate.
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Corporate history
ICICI Bank was established by the Industrial Credit and Investment Corporation of
India (ICICI), an Indian financial institutin, as a whlly wned subsidia!y in 1955"
#he $a!ent c%$any was f!%ed in 1955 as a &int'(entu!e f the )!ld Bank, India*s
$ublic'sect! banks and $ublic'sect! insu!ance c%$anies t $!(ide $!&ect financin+
t Indian indust!y"
,12-,13-
#he bank was initially knwn as the Industrial Credit and
Investment Corporation of India Bank, bef!e it chan+ed its na%e t the abb!e(iated
ICICI Bank" #he $a!ent c%$any was late! %e!+ed with the bank"
ICICI Bank launched inte!net bankin+ $e!atins in 1998"
,14-
ICICI*s sha!ehldin+ in ICICI Bank was !educed t 46 $e!cent, th!u+h a $ublic
ffe!in+ f sha!es in India in 1998, fllwed by an e.uity ffe!in+ in the f!% f
/%e!ican 0e$sita!y 1ecei$ts n the 2345 in 2000" ICICI Bank ac.ui!ed the Bank of
Madura Limited in an all'stck deal in 2001 and sld additinal stakes t institutinal
in(est!s du!in+ 2001'02"
In the 1990s, ICICI t!ansf!%ed its business f!% a de(el$%ent financial institutin
ffe!in+ nly $!&ect finance t a di(e!sified financial se!(ices +!u$, ffe!in+ a wide
(a!iety f $!ducts and se!(ices, bth di!ectly and th!u+h a nu%be! f subsidia!ies and
affiliates like ICICI Bank" In 1999, ICICI bec%e the fi!st Indian c%$any and the fi!st
bank ! financial institutin f!% nn'6a$an /sia t be listed n the 2345"
,15-
In 2000, ICICI Bank beca%e the fi!st Indian bank t list n the 2ew 3!k 4tck
57chan+e with its fi(e %illin /%e!ican de$sit!y sha!es issue +ene!atin+ a de%and
bk 13 ti%es the ffe! si8e"
In 9ctbe! 2001, the Ba!ds f 0i!ect!s f ICICI and ICICI Bank a$$!(ed the %e!+e!
f ICICI and tw f its whlly wned !etail finance subsidia!ies, ICICI :e!snal
;inancial 4e!(ices <i%ited and ICICI Ca$ital 4e!(ices <i%ited, with ICICI Bank" #he
%e!+e! was a$$!(ed by sha!ehlde!s f ICICI and ICICI Bank in 6anua!y 2002, by the
=i+h Cu!t f >u&a!at at /h%edabad in ?a!ch 2002 and by the =i+h Cu!t f
6udicatu!e at ?u%bai and the 1ese!(e Bank f India in /$!il 2002"
,16-
In 2008, fllwin+ the 2008 financial c!isis, cust%e!s !ushed t ICICI /#?s and
b!anches in s%e lcatins due t !u%u!s f ad(e!se financial $sitin f ICICI Bank"
#he 1ese!(e Bank f India issued a cla!ificatin n the financial st!en+th f ICICI Bank
t dis$el the !u%u!s"
,17-
13
Corporate governance
Group Anti Money Laundering Policy@ #he ICICI >!u$ /?< :licy
establishes the standa!ds f /?< c%$liance and is a$$licable t all acti(ities"
,18-
Code of Conduct@ ICICI Bank has f!%ulated a Cde f Business Cnduct and
5thics f! its di!ect!s and e%$lyees"
,19-
Creation of market infrastructure in India
ICICI Bank has cnt!ibuted t set u$ diffe!ent institutins which include the fllwin+@
2atinal 4tck 57chan+e
#he 2atinal 4tck 57chan+e was $!%ted by India*s leadin+ financial institutins
Aincludin+ ICICI <td"B in 1992 n behalf f the >(e!n%ent f India with the b&ecti(e
f establishin+ a natinwide t!adin+ facility f! e.uities, debt inst!u%ents and hyb!ids,
by ensu!in+ e.ual access t in(est!s all (e! the cunt!y th!u+h an a$$!$!iate
c%%unicatin netw!k"
,20-
C!edit 1atin+ Inf!%atin 4e!(ices f India <i%ited
In 1987, ICICI <td aln+ with C#I set u$ C1I4I< as India*s fi!st $!fessinal c!edit
!atin+ a+ency" C1I4I< ffe!s a c%$!ehensi(e !an+e f inte+!ated $!ducts and se!(ice
ffe!in+s which include c!edit !atin+s, ca$ital %a!ket inf!%atin, indust!y analysis and
detailed !e$!ts"
,21-
2atinal C%%dities and 0e!i(ati(es 57chan+e <i%ited
2C05D is a $!fessinally %ana+ed nline %ulti'c%%dity e7chan+e, set u$ in 2003,
by ICICI Bank <td, <IC, 2/B/10, 245, Cana!a Bank, C1I4I<, >ld%an 4achs,
Indian ;a!%e!s ;e!tilise! C$e!ati(e <i%ited AI;;C9B and :un&ab 2atinal Bank"
,22-
;inancial Inn(atin 2etw!k and 9$e!atins :(t <td"
ICICI Bank has facilitated settin+ u$ f E;I29 C!ss <ink t Case <ink 4tudyE in 2006,
as a c%$any that wuld $!(ide technl+y slutins and se!(ices t !each the
unde!se!(ed and unde!banked $$ulatin f the cunt!y" Csin+ cuttin+ ed+e
technl+ies like s%a!t ca!ds, bi%et!ics and a basket f su$$!t se!(ices, ;I29 enables
financial institutins t cnce$tualise, de(el$ and $e!atinalise $!&ects t su$$!t
sect! initiati(es in %ic!finance and li(elihds"
,23-
5nt!e$!eneu!shi$ 0e(el$%ent Institute f India
5nt!e$!eneu!shi$ 0e(el$%ent Institute f India A50IIB, an autn%us bdy and nt'
f!'$!fit sciety, was set u$ in 1983, by the e!stwhile a$e7 financial institutins like
I0BI, ICICI, I;CI and 4BI with the su$$!t f the >(e!n%ent f >u&a!at as a natinal
14
!esu!ce !+anisatin c%%itted t ent!e$!eneu!shi$ de(el$%ent, educatin, t!ainin+
and !esea!ch"
,24-
2!th 5aste!n 0e(el$%ent ;inance C!$!atin
2!th 5aste!n 0e(el$%ent ;inance C!$!atin A250;IB was $!%ted by natinal
le(el financial institutins like ICICI <td in 1995 at >uwahati, /ssa% f! the
de(el$%ent f indust!ies, inf!ast!uctu!e, ani%al husband!y, a+!i'h!ticultu!e $lantatin,
%edicinal $lants, se!icultu!e, a.uacultu!e, $ult!y and dai!y in the 2!th 5aste!n states
f India" 250;I is the $!e%ie! financial and de(el$%ent institutin f! the 2!th 5ast
!e+in"
,25-
/sset 1ecnst!uctin C%$any India <i%ited
;llwin+ the enact%ent f the 4ecu!itisatin /ct in 2002, ICICI Bank t+ethe! with
the! institutins, set u$ /sset 1ecnst!uctin C%$any India <i%ited A/1CI<B in
2003, t c!eate a facilitati(e en(i!n%ent f! the !eslutin f dist!essed debt in India"
/1CI< was established t ac.ui!e nn'$e!f!%in+ assets A2:/sB f!% financial
institutins and banks with a (iew t enhance the %ana+e%ent f these assets and hel$
in the %a7i%isatin f !ec(e!y" #his wuld !elie(e institutins and banks f!% the
bu!den f $u!suin+ 2:/s, and allw the% t fcus n c!e bankin+ acti(ities"
,26-,27-
C!edit Inf!%atin Bu!eau f India <i%ited
ICICI Bank has als hel$ed in settin+ u$ C!edit Inf!%atin Bu!eau f India <i%ited
ACIBI<B, India*s fi!st natinal c!edit bu!eau in 2000" CIBI< $!(ides a !e$sit!y f
inf!%atin Awhich cntains the c!edit hist!y f c%%e!cial and cnsu%e! b!!we!sB
t its %e%be!s in the f!% f c!edit inf!%atin !e$!ts" #he %e%be!s f CIBI< include
banks, financial institutins, state financial c!$!atins, nn'bankin+ financial
c%$anies, husin+ finance c%$anies and c!edit ca!d c%$anies"
,28-
Institutinal In(est! /d(is!y 4e!(ices India <i%ited AIi/4B
ICICI Bank has indi!ectly in(ested, th!u+h ICICI :!udential <ife Insu!ance C%$any,
in Ii/4" Ii/4 is a (tin+ ad(is!y fi!% aka $!7y fi!%, dedicated t $!(idin+
$a!tici$ants in the Indian %a!ket with data, !esea!ch and c%%enta!y" It $!(ides
!ec%%endatins n !eslutins $laced bef!e sha!ehlde!s f (e! 300 c%$anies"
Corporate social responsibility programmes for elementary
Education
Read to Lead Phase I@ 1ead t <ead is an initiati(e f ICICI Bank t facilitate
access t ele%enta!y educatin f! unde!$!i(ile+ed child!en in the a+e +!u$ f
3F14 yea!s includin+ +i!ls and t!ibal child!en f!% the !e%te !u!al a!eas" #he
1ead t <ead initiati(e su$$!ts $a!tne! 2>9s t desi+n and i%$le%ent
$!+!a%%es that %bilise $a!ent and c%%unity in(l(e%ent in educatin,
st!en+then schls and enable child!en t ente! and c%$lete f!%al ele%enta!y
educatin" 1ead t <ead has !eached ut t 100,000 child!en ac!ss 14 states f
/ndh!a :!adesh, Biha!, 0elhi, >u&a!at, =a!yana, 6ha!khand, Ga!nataka,
15
?aha!asht!a, 9!issa, 1a&asthan, #a%il 2adu, #!i$u!a, Ctta! :!adesh and )est
Ben+al"
,29-
Read to Lead Phase II@
In :hase II f the 1ead t <ead $!+!a%%e, ICICI Bank has su$$!ted the
establish%ent f 63 lib!a!ies that will !each ut t a$$!7i%ately 7,200 child!en in the
!u!al a!eas f 6a+dal$u! blck f Basta! dist!ict in Chhattis+a!h" #he $!+!a%%e
includes buildin+ lib!a!ies, su!cin+ bks and cnductin+ (a!ius inte!acti(e acti(ities
t %ake the lib!a!y a dyna%ic cent!e f! lea!nin+"
Products
'Pockets by ICICI Bank'
In 4e$te%be! 2013, ICICI Bank launched a f its kind a$$ n ;acebk *Pockets y
ICICI !ank" ac!ss the +lbe t enable cust%e!s t ca!!y ut a wide !an+e f financial
t!ansactins n ;acebk
,30-
Cust%e!s can access the ICICI Bank a$$
,31-
by l++in+
int thei! ;acebk accunt and then +in+ t the fficial ICICI Bank ;acebk $a+e,
and clickin+ n the tab f! :ckets by ICICI Bank" #he cust%e! then !e+iste!s nline
with thei! debit ca!d nu%be! and :I2, and selectin+ a new fu! di+it :I2 f! subse.uent
l+ins"
,32-
#h!u+h the a$$, cust%e!s can %ake $ay%ents t f!iends, !echa!+e $!e$aid
%bile and bk %(ie tickets" 9ne can als ca!!y ut nn'financial t!ansactins such
as accessin+ a %ini state%ent f thei! sa(in+s bank accunt, +ettin+ de%at hldin+
state%ents, $enin+ fi7ed ! !ecu!!in+ de$sit, !de! a che.ue bk, st$ a che.ue
$ay%ent, u$+!ade debit ca!d, a%n+ the!s"
,33-
#ome of the key features of "Pockets y ICICI !ank" are$
#plit n share$ It allws cust%e!s t s$lit and t!ack +!u$ e7$enses and sha!e the% with
f!iends n ;acebk" #he a$$ als +i(es the cust%e! the $tin f sendin+ %essa+es t
!e%ind f!iends n $endin+ $ay%ents"
Pay a friend$ It allws cust%e!s t t!ansfe! funds t thei! f!iends withut knwin+
thei! bank accunt details like accunt nu%be!, bank b!anch, b!anch I;4C cde etc"
#h!u+h this facility, cust%e!s can c!eate elect!nic cu$ns that can be !edee%ed by
thei! f!iends n the bank website icicibank"c%
,34-

MySavings Rewards
ICICI Bank has !lled'ut the $!+!a%%e *?y4a(in+s 1ewa!ds* f!% 1 4e$te%be!
2012, whe!e !ewa!d $ints a!e ffe!ed t indi(idual d%estic cust%e!s f! a (a!iety f
t!ansactins dne th!u+h the sa(in+s bank accunt" 1ewa!d $ints a!e ffe!ed
aut%atically t cust%e!s f! acti(atin+ Inte!net bankin+, sh$$in+ nlineH $ayin+
utility bills with Inte!net bankin+ and aut'debit f!% sa(in+s accunt twa!ds e.uated
%nthly install%ents f! h%eH autH $e!snal lanH !ecu!!in+ de$sit" Cust%e!s a!e
!e.ui!ed t %aintain a %nthly a(e!a+e balance f 15,000 ! %!e"
,35-
Customers can redeem their re%ard points y
16
l++in+ int his ICICI Bank inte!net bankin+ accunt
Callin+ u$ cust%e! ca!e
)alkin+ int the nea!est ICICI Bank b!anch
iWish- the flexible recrring de!osit
i)ish is a fle7ible !ecu!!in+ de$sit $!duct launched by ICICI Bank f! its sa(in+s
accunt cust%e!s" i)ish is a fun and fle7ible way t encu!a+e sa(in+s a%n+ yuth
f! fulfillin+ as$i!atins" Cnlike a t!aditinal !ecu!!in+ de$sit, i)ish allws cust%e!s
t sa(e (a!yin+ a%unts f %ney at any ti%e f thei! chice" Cust%e!s can c!eate
se(e!al +als and t!ack thei! $!+!ess n an easy't'use nline inte!face" #hey can als
sha!e thei! wishes n ;acebk and let thei! f!iends and fa%ily be a $a!t f thei! d!ea%s
by cnt!ibutin+ t thei! accunt f!% any bank accunt" #he!e will be n $enalties if a
cust%e! %isses his %nthly cnt!ibutin t the !ecu!!in+ de$sit" #he %ini%u%
du!atin is si7 %nths and a cust%e! can $en this accunt sta!tin+ with 500"
,36-
&he key features of i'ish are$
(le)iility$ ;le7ible !ecu!!in+ de$sit allws a cust%e! t de$sit any a%unt
at any $int f ti%e" Cust%e!s als ha(e an $tin f de$sitin+ %ney by
+i(in+ a standin+ inst!uctin"
!etter returns$ Cust%e!s can ea!n !ecu!!in+ de$sit inte!est !ates n thei!
i)ish accunt while en&yin+ the f!eed% f nt ha(in+ t de$sit e(e!y %nth"
#haring$ Cust%e!s can chse t sha!e thei! wishes n ;acebk and let thei!
f!iends and fa%ily be $a!t f thei! d!ea%s"
Contriutions$ i)ish +i(es an $$!tunity t the fa%ily and f!iends f a
cust%e! t cnt!ibute and hel$ hi% attain his as$i!atins faste!" Cnt!ibutins
can be %ade f!% any bank accunt usin+ a II4/ debit ca!d"
ICICI Bank has de(el$ed this $!duct in cllab!atin with 4cial ?ney"
Go Green Initiative
#he > >!een Initiati(e is an !+anisatin wide initiati(e that %(es beynd %(in+
$e$le, $!cesses and cust%e!s t cst effecti(e aut%ated channels t build awa!eness
and cnsciusness f u! en(i!n%ent, u! natin and u! sciety"
,37-
"b#ective
ICICI Bank*s >!een initiati(e is t %ake healthy en(i!n%ent in the !+anisatin i"e"J t
c!eate int!a$e!snal skills a%n+s the cust%e! and unde!standin+ between e%$lyees
f the !+anisatin"
B!ad b&ecti(es f the ICICI a!e@
AaB t assist in the c!eatin, e7$ansin and %de!nisatin f $!i(ate cnce!nsJ
AbB t encu!a+e the $a!tici$atin f inte!nal and e7te!nal ca$ital in the $!i(ate cnce!nsJ
17
AcB t encu!a+e $!i(ate wne!shi$ f indust!ial in(est%ent"
$reen !rodcts and services
Instabankin+
It is the $latf!% that b!in+s t+ethe! all alte!nate channels unde! ne u%b!ella and +i(es
cust%e!s the $tin f bankin+ th!u+h Inte!net bankin+, i'?bile bankin+, II1
Bankin+" #his !educes the ca!bn ft$!int f the cust%e!s by ensu!in+ they d nt
ha(e t !es!t t $hysical state%ents ! t!a(el t thei! b!anches"
,37-
Iehicle ;inance
/s an initiati(e twa!ds %!e en(i!n%ent f!iendly way f life, /ut lans ffe! 50K
wai(e! n $!cessin+ fee n ca! %dels which uses alte!nate %de f ene!+y" #he
%dels identified f! the $u!$se a!e, ?a!uti*s <:> (e!sin f ?a!uti 800, 9%ni and
Ie!sa, =yundai*s 4ant! 5c, Ci(ic =yb!id f =nda, 1e(a elect!ic ca!s, #ata Indica
C2> and ?ahind!a <+an C2> (e!sins"
,37-
Carbon %oot!rint Calclator
In$uts include !e+in, use! in$ut f the distance t!a(eled in a $a!ticula! %ediu% f
t!ans$!t daily, elect!icity cnsu%ed $e! %nth and <:> cylinde!H$i$ed natu!al +as used
$e! %nth" It calculates the net ca!bn ft$!int t c!eate awa!eness and sensiti8e $e$le
abut the en(i!n%ent" It als shws the w!ld*s and India*s a(e!a+e ca!bn ft$!int"
,38-
,39-
Subsidiaries
&o'estic
ICICI :!udential <ife Insu!ance C%$any <i%ited
ICICI <%ba!d >ene!al Insu!ance C%$any <i%ited
ICICI :!udential /sset ?ana+e%ent C%$any <i%ited
ICICI :!udential #!ust <i%ited
ICICI 4ecu!ities <i%ited
ICICI 4ecu!ities :!i%a!y 0eale!shi$ <i%ited
ICICI Ientu!e ;unds ?ana+e%ent C%$any <i%ited
ICICI =%e ;inance C%$any <i%ited
ICICI In(est%ent ?ana+e%ent C%$any <i%ited
ICICI #!usteeshi$ 4e!(ices <i%ited
ICICI :!udential :ensin ;unds ?ana+e%ent C%$any <i%ited
,40-
International
ICICI Bank CG :<C
ICICI Bank Canada
ICICI Bank 5u!asia <i%ited <iability C%$any
ICICI 4ecu!ities =ldin+s Inc"
ICICI 4ecu!ites Inc"
ICICI Inte!natinal <I%ited
18
Acquisitions
1996@ 4CICI <td" / di(e!sified financial institutin with head.ua!te!s in
?u%bai
1997@ I#C Classic ;inance" Inc!$!ated in 1986, I#C Classic was a nn'bank
financial fi!% that en+a+ed in hi!e, $u!chase, and leasin+ $e!atins" /t the ti%e
f bein+ ac.ui!ed, I#C Classic had ei+ht ffices, 26 utlets, and 700 b!ke!s"
1998@ /na+!a% ;inance" /na+!a% had built u$ a netw!k f s%e 50 b!anches
in >u&a!at, 1a&asthan, and ?aha!asht!a that we!e $!i%a!ily en+a+ed in !etail
financin+ f ca!s and t!ucks" It als had s%e 250,000 de$sit!s"
2001@ Bank f ?adu!ai
2002@ #he 0a!&eelin+ and 4hi%la b!anches f >!indlays Bank
2005@ In(estitsinn'G!editny Bank AIGBB, a 1ussian bank
2007@ 4an+li Bank" 4an+li Bank was a $!i(ate sect! unlisted bank, funded in
1916, and 30K wned by the Bahte fa%ily" Its head.ua!te!s we!e in 4an+li in
?aha!asht!a, and it had 198 b!anches" It had 158 in ?aha!asht!a and 31 in
Ga!nataka, and the!s in >u&a!at, /ndh!a :!adesh, #a%il 2adu, >a, and 0elhi"
Its b!anches we!e !elati(ely e(enly s$lit between %et!$litan a!eas and !u!al !
se%i'u!ban a!eas"
2010@ #he Bank f 1a&asthan AB91B was ac.ui!ed by the ICICI Bank in 2010
f! 30 billin" 1BI was c!itical f B91*s $!%te!s nt !educin+ thei! hldin+s
in the c%$any" B91 has since been %e!+ed with ICICI Bank"
Awards
*++,
Best Bank in India /wa!d $!esented by Euromoney Magazine
,41-
*++-
ICICI Bank has been cnfe!!ed the 5u!%ney /wa!d 2007 f! the Best Bank in
the /sia':acific 1e+in
,42-
ICICI Bank wins the 57cellence in 1e%ittance Business awa!d by #he /sian
Banke!
,43-
*++.
ICICI Bank ba+s the EBest bank in 4?5 financin+ A:!i(ate 4ect!BE at the 0un
L B!adst!eet Bankin+ awa!ds
,44-
19
O'4ective of study!
Aeneral2 . To study various factors relating 9eards and 9ecognition
like!
Briteria for reards and recognition.
+ligibility.
&mpact of 9eards and 9ecognition on behavior of employees.
*requency
(enefits derived by 9eards and 9ecognition.
9ecommendation and )uggestion.
)pecific2 . To understand employees' vie and perception on their
9eard and 9ecognition.
20
R,S,ARC5 2,T5ODO6O78
&/P0 1( R0#0ARC2$
0esc!i$ti(e %ethd has been used in this !esea!ch f! the cllectin f data" /s the
!esea!ch is !elated t the study f cnsu%e! beha(i!, which can %!e effecti(ely be
studied th!u+h di!ect .uestins, e7$e!i%ental !esea!ch will nt be %uch effecti(e" /ls,
cnside!in+ the ti%e cnst!aint, desc!i$ti(e !esea!ch is the %st suitable desi+n f! this
!esea!ch"
#13RC0 1( 4A&A$
# (e!c%e the li%itatins f inc%$atibility, bslescence, and bias, $!i%a!y data
was cllected" Cnside!in+ the ti%e and %ney cnst!aints, sa%$lin+ %ethd f data
cllectin was suitable f! the $!&ect"
Primary 4ata
:!i%a!y data a!e thse data that a!e cllected f! the fi!st ti%e, It is bette! t + f!
$!i%a!y
data since it is fi!st hand inf!%atin and the!e is less chances f $e!snnel bias and
inf!%atin can be cllected with accu!acy at the sa%e ti%e" It culd be !e'tabulated
21
and su!(ey cnce!ned in (a!ius f!%s this data can be used" ;! cllectin+ $!i%a!y data
I ha(e chsen the .uestinnai!e %ethd"
4A&A C1LL0C&I15 M0&214$
0ata has been cllected th!u+h .uestinnai!e %ethd" #he .uestinnai!e was desi+ned
in such a way t c(e! as %any as$ects f cnsu%e! beha(i! as $ssible"
#AMPL0 #I60$
#tal 100 $e!sns we!e cntacted and inte!(iewed"
#AMPLI5G$
=e!e study f the cnsu%e! beha(i! f the $e$le f 15wa city" )ithin the city
sa%$les we!e cllected f!% diffe!ent a!eas" # !educe the biases this %ay c%e
th!u+h diffe!ence in the le(el f inc%e, attitude, lifestyle etc" f the $e$le in diffe!ent
a!eas"
R,9I,: O) 6IT,RATUR,
CThe pay package is one of the most obvious and visible
e/pressions of employment relationship! it is main issue in e/change
beteen employees and employer e/pressing connection beteen
individual ork and performance employing organization itself
;ege Wisch and Aanguli O! @! "3<=?#! in his study found Dpay
and alloances as the most important factor causing satisfaction or
dissatisfaction to orkersD
)ingh +T. al. "3<??# in a study of organizational culture and its
impact on managerial remuneration concluded that the demands for
money as significantly influenced by the quality of organizational
culture and that it can substantially be reduced by improving the
quality of organizational culture. *indings such as those suggest that
22
satisfaction! task involvement! demand for money and commitment
are largely determined by organizational culture.

,ccording to *red $uthans "3<E3#! Dinequality occurs hen an
individual perceives that the ratio of his outcomes to input and the
ratio of relevant others outcome to input are unequalD

9olinson "3<EE# one of the ,merican vice presidents hose
company observed and concluded that recognition speaks to the
employee receiving it and aards and only one aspect of it. The
symbolism! meaning and intrinsic value attached to the reard are
equally important. ,lthough the gold plated carriage clock! atch all
engraved tinkered in recognition of long service is probably most
prominent form of recognition aard in F.G.
ANA68SIS AND INT,R0R,TATION O) DATA
! :hat are the various rewards and recognition you
recommend in ICICI ;
0articulars )re-uency 0ercentage
4onetary reards >< 3?.==
@on monetary
recognitionH
appreciation
reard
>= 33.?=
(est suggestionH best
kaizen reard
33 53.I?
TeamH Aroup reard >= 33.?=
+mployee of the
monthHyear reard
>E 3I.=<
7epartmental reard >6 >I.EE
23
Bost reduction reard >6 >I.EE
9ecreational reard >5 >6.<5
,ttendence reard >6 >I.EE
Total < ==
The above table shos that 53!I?J i.e ma8ority of
respondents have recommended best suggestion or best kaizen
reard! 3?.==J of respondents have recommended monetary
reards! 3I.=<J of respondents have suggested for employee of the
monthHyear reard! 33.?=J of respondents believes in non.monetary
recognitionHappreciation type of reard scheme also 33.?=J of
respondents has recommended for team or group reard hile
I.EEJ!I.EEJ!6.<5J and I.EEJ of respondents have recommended
"! 5ow often do you thin# should 'e rewarded ;

The above table shos that 63.6? J ma8ority of respondents
feels that employees should be rearded on yearly basis hile
5I.K<J of respondents think that employees should be rearded on
quarterly basis! hile 3?.=IJ! 36.?6J and 33.?=J of respondents
are of the vie that employees should be rearded on monthly!
occasionally based on e/tra ordinary accomplishments and half yearly
basis respectively.
0articulars )re-uency 0ercentage
4onthly >< 3?.=I
Luarterly 36 5I.K<
;alf Mearly >= 33.?=
Mearly 3= 63.6?
Occasionally based on
e/tra ordinary
accomplishments
>? 36.?6
Total < ==
24
(! :hat are the 'ehaviors that you are trying to encourage in
employees through the award scheme you recommend;
0articulars )re-uency 0ercentage
4otivation! dedication
and sincerity
3K 5?.K=
;ard orking >? 36.?6
)elf disciplineH
punctuality
>= 33.?=
Team building and
group cohesiveness
>I ><.E>
)ense of
belongingness! loyalty
and honesty
>I ><.E>
4orale boosting >6 >I.EE
Bompetition >5 >6.<5
Others >< 3?.=I
Total < ==
The above table shos that! behaviors that could be encouraged in
employees through the reard and recognition schemes! in hich
ma8ority of respondents i.e. 5?.K=J thinks that motivation!
dedication and sincerity could be encouraged here as 36.?6J of
respondents believes that hard orking could be encouraged! hile
33.?=J of respondents are of the vie that self.discipline and
25
punctuality could be encouraged! <.E>J thinks that sense of
belongingness! loyalty and honesty can be encouraged here as
I.EEJ of respondents feels that it encourages morale boosting hile
only >6.<5 J respondents think that it can lead to competition
among the employees on the other hand 3?.=IJ of other
respondents are of the opinion as follos such as improvement in
thinking process.
+! Are the entire employee should 'e eligi'le for Reward and
Recognition;
0articulars )re-uency 0ercentage
Mes KK E=.5?
@o >? 36.?6
Total < ==
The above table shos that E=.5? of respondents feel that all
employees should be eligible for reard and recognition hile on the
other hand 36.?6J of respondents do not feels the same.
<! If No/ which level of employees should 'e eligi'le;
&n the above table 36.?6J of respondents do not agree to the
statement Are all the employees should 'e eligi'le for rewards
and recognition they are of the vie that employees belo 44B
level should only be eligible for reards and recognition schemes.
26
>! :hat should 'e the criteria for rewards and recognition;
0articulars )re-uency 0ercentage
%erformance and out.
put
5? I5.<K
Bost saving 3> 3<.=3
Luality improvement >E 3I.=<
,chievements of
targets
>= 33.?=
Total < ==
The above table shos that ma8ority of respondents i.e. I5.<KJ of
respondents thinks that performance and output should be the
criteria for reards and recognition! here as 3<.=3J of respondents
feels that cost saving should be the criteria! hile 3I=<J of
respondents believes that quality improvement should be the criteria
and 33.?=J of respondents thinks that achievements of targets
should be the criteria for reards and recognition.
27
?! 5ow is an employee should 'e selected for a reward; Is it
through;
0articulars )re-uency 0ercentage
Aroup Note 33 53.I?
7ecision from top
officials
3? 66.66
7ecision from a single
manager
56 KI.3>
@one of above >> >>.>>
Total < ==
The above table shos that KI.3>J i.e. ma8ority of
respondents thinks that an employee should be selected for a reard
is through the decision from a single manager or in other ords from
the immediate supervisor! hile 66.66J and 53.I?J of respondents
are of the vie that employees should be selected for reard through
decision from top officials and group vote respectively.
28
@! 5ow is the company 'enefited from rewards and
recognition;
0articulars )re-uency 0ercentage
&mproved
performance
6K ==.=?
9educed absenteeism >K >?.EK
Others 36 5I.K<
Total < ==
The above table shos that ==.=?J of respondents believes
that improved performance is the benefit that company derives from
reards and recognition! hile >?.EKJ of respondents feels that it
can reduce absenteeism hile 5I.K<J of respondents have came up
ith several other ideas hich includes cost reduction! improvement
in ork culture! boosting morale of the employees! loyalty! sense of
belongingness! improved thinking process! internal competition! self.
motivation and self discipline! punctuality! profitability! optimum
utilization of human resources! sincerity etcC
29
A! Are the ,mployees suggestion should 'e considered while
reviewing the reward programme;
0articulars )re-uency 0ercentage
Mes 55 K6.3K
@o 5< I=.E=
Total < ==
The above table shos that a ma8ority i.e. IE.E=J of
respondents feels that employee's suggestion should not be
considered hile revieing the reard programme hile K6.3KJ of
respondents do not feels the same.
30
=! Do you thin# the Reward and Recognition scheme should
'e restricted to 22C level;
0articulars )re-uency 0ercentage
Mes 5> 6<.55
@o 63 =>.?E
Total < ==

The above table shos that =>.?EJ of respondent believes that
reard and recognition scheme should not be restricted to 44B level
only hile 6<.55J of respondents do not feels the same!
)INDIN7S/ SU77,TIONS/ AND CONC6USIONS
31
)INDIN7S
Whenever a company is involved in a implementing any policy!
apart form the financial and organizational policy changes! the human
resources of the organization are also deeply affected. &f there is no
clarity of communication beteen the top management and the
employees don the hierarchy! it results in lot of misunderstandings
and cause of ma8or orry amongst the employees. &n such a
changing scenario! some of the ma8or causes of concern for the
employees are 8ob security! compensation! opportunities for career
groth! adaptability to the changed organizational strategies and
policies etc. 9eards and 9ecognition can prove to be an important
measure for betterment and upliftment of any organization.
)indings regarding criteria for Rewards and Recognition
Opinion regarding the criteria for reards and recognition that
employees recommended hile performing their 8obs ere quite
content ith their lives and 8obs. While there are many positive ideas
came up to their organizational culture the main ideas as a part of
findings regarding appropriate criteria for reards and recognition
are2.
3. %erformance and out.put
5. Bost saving
6. Luality improvement and achievements of targets
SU77,STIONS
32

Fnder this sub title! the researcher has presented fe
suggestions hich are based on the conclusions reached. &f acted
upon! these suggestions may prove fruitful in improving reard
system in organization hich further leads to employees' motivation
and 8ob satisfaction. +ffective treatment of post the scheme is
implemented and integration process cannot be advanced ithout
sound theoretical understanding of the employees' psychological and
behavioral responses to the essential properties and processes
inherent in reard and recognition.driven organizational change.
9eards and recognition have a great impact on the individuals or
groups orking in an organization and on the orking conditions.
Organizations must effectively develop and implement assistance
programmes for displaced employees. )uch programmes should
include advance notification! e/tended benefits! and outplacement
activities. , company not only needs to select a right target! but also
must have the right culture in place that accepts the programme as
quickly as possible.
&n this conte/t the role played by effective communication
becomes very important. This entails devising a comprehensive
communication strategy and implementing it ith care and diligence
by a pro.active! clear and direct communications strategy! one that
regularly acknoledges the significant role employees have played in
the business and e/plains their important! ongoing role in the future
counseling interventions can address issues pertaining to 8ob
insecurity on a number of systematic levels. Bareer counseling can be
providing to help employees define their personal goals! development
needs and career paths in the organization.
33
CONC6USION

%rioritize employee recognition to ensure a positive! productive!
organizational climate. %rovide employee recognition to say thank
you and to encourage more of the actions and thinking you believe
ill make the organization successful. %eople ho feel appreciated
are more positive about themselves and their ability to contribute.
These beliefs about employee recognition are common among
employers . if not commonly carried out. Why then is employee
recognition so closely guarded at ork?

+mployee recognition is limited in most organizations.
+mployees complain about the lack of recognition regularly. 4anagers
ask! Why should & recognize or thank him? ;e's 8ust doing his 8ob.
,nd! life at ork is busy! busy! and busy. These factors combine to
create ork places that fail to provide recognition for employees.
4anagers ho prioritize employee recognition understand the poer
of recognition.
+very person has different reasons for orking. The reasons for
orking are as individual as the person. (ut! e all ork because e
obtain something that e need from ork. The something obtained
from ork impacts morale! employee motivation! and the quality of
life. To create positive employee motivation! treat employees as if
they matter . because employees matter. These ideas ill help you
fulfill hat people ant from ork and create employee motivation.


34
0,RSONA6 IN9,NTOR8
@ame2.
7epartment2.
+ducational qualification2.
7esignation2.
7epartment2.
@umber of years ith &B&B&2.

! What are the various reards and recognition you recommend in
&B&B&?

"! ;o often do u think should be rearded?
a# 4onthly
b# Luarterly
c# ;alf yearly
d# Mearly
e# Occasionally based on e/tra ordinary
accomplishments.
35
(! What are the behaviors that you are trying to encourage in
employees through the aard scheme you recommend?
+! ,re all the employees should be eligible for the 9eard and
9ecognition?
Mes @o
<! &f @o! hich level of employees should be eligible?
>! What should be the criteria for reards and recognition2
?! ;o an employee should be selected for a reard? &s it through
36
a# Aroup vote
b# 7ecision from top officials
c# 7ecision from a single manager
d# @one of the ,bove
@! ;o is the company benefited from the reards and recognition?
a# &mproved performance
b# 9educed absenteeism
c# Others
A! )hould the employee suggestions be considered hile revieing
the 9eard program?
Mes @o
=. 7o you think the 9eard and 9ecognition scheme should be
restricted to 44B level?
Mes @o
. 7o you feel the 9O9 scheme like +mployee of the 4onth be
chosen by voting from the department?
Mes @o
"! &f you have any other suggestion?

37
38