HII ... I looking for a sample of incentive plan for my recruitment company. Kindly help me with basic frame work structure....:)
From India, Delhi
4From India, Delhi
Hi,
You can provide performance based incentives.
Revenues Vs Incentive
No.Of closures Vs Incentive
Also Bonus or any other benefits, gifts, appreciation letters..etc.. Do any of the above for them. Write me for further details.
Regards
Ajay
Business Development Manager
From India, Madras
You can provide performance based incentives.
Revenues Vs Incentive
No.Of closures Vs Incentive
Also Bonus or any other benefits, gifts, appreciation letters..etc.. Do any of the above for them. Write me for further details.
Regards
Ajay
Business Development Manager
From India, Madras
hii ,
thanks alot for ur reply
Since we hv opened a new venture in recruitment industry , most of recruiters are having experience of 1 yr only and m nt aware of their performance ,so it is bit to decide abt incentive. I have two bases like
1) After 3 closing ,incentive of say 1000/- per closing.
2) Categorizes the recruiter acc. to their CTC and set a fix target and then give sum %age on achieving the target
wht u suggest ??
Regards!!!
Sonica
From India, Delhi
thanks alot for ur reply
Since we hv opened a new venture in recruitment industry , most of recruiters are having experience of 1 yr only and m nt aware of their performance ,so it is bit to decide abt incentive. I have two bases like
1) After 3 closing ,incentive of say 1000/- per closing.
2) Categorizes the recruiter acc. to their CTC and set a fix target and then give sum %age on achieving the target
wht u suggest ??
Regards!!!
Sonica
From India, Delhi
Hi Sonica
What we did in our company some time back was that we allocated a certain % (5% to be precise) for the total collection (not billing) by an individual recruiter
For the Team Leaders, it was 1.5% of the total collection of his / her team and for the head of business (Operations Manager) it was a total of 0.75% of the total company's collection, hence 7.25% of the total collection was allocated towards incentives....
No calculations are done on billing values and offers rolled out...
It is good to roll out seasonal bonuses over and above the incentives, like a Diwali Bonanza or a New Year Treat in which the person with the lowest Billing to Collection ration gets rewarded (may be a cash incentive) with a cap of a minimum collection of say 2 Lacs
Ask me for help if you need it :)
From India, Faridabad
What we did in our company some time back was that we allocated a certain % (5% to be precise) for the total collection (not billing) by an individual recruiter
For the Team Leaders, it was 1.5% of the total collection of his / her team and for the head of business (Operations Manager) it was a total of 0.75% of the total company's collection, hence 7.25% of the total collection was allocated towards incentives....
No calculations are done on billing values and offers rolled out...
It is good to roll out seasonal bonuses over and above the incentives, like a Diwali Bonanza or a New Year Treat in which the person with the lowest Billing to Collection ration gets rewarded (may be a cash incentive) with a cap of a minimum collection of say 2 Lacs
Ask me for help if you need it :)
From India, Faridabad
hiii,
Since this is new venture ,so m nt aware of the worth of positions we will get from the BD guy or wht revenue will be generated thru recruitment; thts the reason m confused abt wht should be the fair target for BD and recruiters.So tht at the end they are motivated with incentive part and moreover org. also meet up with gud revernue.
Regards!!!
Sonica Choudhary
From India, Delhi
Since this is new venture ,so m nt aware of the worth of positions we will get from the BD guy or wht revenue will be generated thru recruitment; thts the reason m confused abt wht should be the fair target for BD and recruiters.So tht at the end they are motivated with incentive part and moreover org. also meet up with gud revernue.
Regards!!!
Sonica Choudhary
From India, Delhi
generally the target should be 4 times of the annual CTC of the recruiter broken into months and quarters....
Target should always be for collections.
Similar targets should be given to the BD team, for the sake of fairness give atleast 30% more targets to the BD teams as all the mandates that they get may not get closed
From India, Faridabad
Target should always be for collections.
Similar targets should be given to the BD team, for the sake of fairness give atleast 30% more targets to the BD teams as all the mandates that they get may not get closed
From India, Faridabad
hiii... plz help me make the incentive slab for BD Eg: If target of BD person is 6 Lac per month wht percentage can be given as incentive
From India, Delhi
From India, Delhi
generally for BD / Recruiters - you should offer incentives only on collection. for instance a collection of 6 Lacs from the clients of BD Guy should fetch him an incentive of anything in the range of 5 to 7% which is huge money... 5% of 6 Lacs is INR 30000... club it with the salary of this guy (say 15 to 20k) he/she can earn anything in the range of 45 to 50k if he/she completes the target....
There should not be any incentives on getting business, it should be paid only on execution of mandates and getting them banked into the company account
Cheers
From India, Faridabad
There should not be any incentives on getting business, it should be paid only on execution of mandates and getting them banked into the company account
Cheers
From India, Faridabad
hiii... plz find the attachment for incentive plan and let me knw if it is feasible or any amendations are required. rply soon
From India, Delhi
From India, Delhi
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Incentive Plan.xls
Incentive Plan policy-template s.doc