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More on Discretionary Funding Eligibility.
Fund Usage
Any Axelerant team member recognized as a *leader may utilize discretionary funding for other team members for going beyond Being Axelerant expectations. When in doubt, ask for peer vetting.
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(*Note: The term Leader refers to designations where you are leading 1 or more team members in a functional/project/inter-department team. This means, apart from Directors we currently identify Project managers and Program Leads also as Leaders. In the future all team members falling under this definition of Leader will be eligible to give Discretionary funding to their team members/reports.)
Funding Coverage
These are possibilities and not inclusive.
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People Operations should handle general gift-giving through team engagement programs like Christmas or other holidays. For example, request them to send $20 Amazon gift cards to their engagement team for Christmas–as thanks for their extra effort to meet holiday deadlines.
Budget
Axelerant sets aside 0.2083%–1/12 of an annual 2.5%–of the organization’s salary for fair and equitable discretionary funding each month. When giving people discretionary funds, use the value of that person’s efforts by the impact upon Axelerant. Some ideas:
1,500 INR to 3,000 INR for exceptional performance in their current role
3,000 INR to 5,000 INR for going over and beyond their call of duty
Full event sponsorship–travel, lodging, meals, event fees, etc.
Tax Considerations
Discretionary Funding is typically considered a taxable event. As a recipient, please plan your tax payments accordingly.
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