Hi,
Marina,
A incentive will be calculated on the cell and rejection in our compnay, first of all you have to make a chart on the cell that whic and how much amout you can distribute in the emplyees. then after you should deceide a amount for each grade a specific amount with the approval of the MD and after crossing the certain amount of the cell and rejcetion you can give the incentve.
Prashant Shinde.
9923396082
From India, Pune
Marina,
A incentive will be calculated on the cell and rejection in our compnay, first of all you have to make a chart on the cell that whic and how much amout you can distribute in the emplyees. then after you should deceide a amount for each grade a specific amount with the approval of the MD and after crossing the certain amount of the cell and rejcetion you can give the incentve.
Prashant Shinde.
9923396082
From India, Pune
Dear HR Friends
I am working for a company in UAE and we have grade from 1 to 20 - 20 being the highest
now my managment wants to introduce incentives for each grades or you can say benefits for each grade
can some one please help me
i am in FMCG company. your help will be highly appreciated
regards
Marina
From United Arab Emirates, Dubai
I am working for a company in UAE and we have grade from 1 to 20 - 20 being the highest
now my managment wants to introduce incentives for each grades or you can say benefits for each grade
can some one please help me
i am in FMCG company. your help will be highly appreciated
regards
Marina
From United Arab Emirates, Dubai
1
Hi,
The way to go about introducing Incentive plan is:
1. Analysis the roles in the company and their current performance evaluation criteria.
2. You will have identify the roles which will be covered by the Incentive plans.
3. Sign off the parameters for these roles / delivery mechanism.
4. Provide weightages linked to the performances for the people performing the same role in the same level. Once the role change the weightage to a particular change or if the level change then the parameters and their weightage changes.
5. Create a cut off point in the performance evaluation for incentive eligibility eg: Rating from 1 to 3 will be eligible for incentive while 4 & 5 will not, keeping 1 has outstanding.
6. Sales incentives should be different from the delivery incentives on shop floor & support roles.
7. Have incentive plans for all employees to encourge performance.
8. Do not introduce incentives more than 15% of the current Gross salary. For example his compensation is $2000 per month. For this first year of incentive introduction, his increment will be divided into 85% into Gross pay and 15% into incentives.
9. Do not introduce 100% as incentives. Prograssively increase from 15% to 20 to 25% next year. Do not increase incentives beyond 35% of the Gross salary.
10. Company outflow should be on CTC basis. Eg: $2000 per month + incentives earned by him.
Hope this helps.
Regards
From India
The way to go about introducing Incentive plan is:
1. Analysis the roles in the company and their current performance evaluation criteria.
2. You will have identify the roles which will be covered by the Incentive plans.
3. Sign off the parameters for these roles / delivery mechanism.
4. Provide weightages linked to the performances for the people performing the same role in the same level. Once the role change the weightage to a particular change or if the level change then the parameters and their weightage changes.
5. Create a cut off point in the performance evaluation for incentive eligibility eg: Rating from 1 to 3 will be eligible for incentive while 4 & 5 will not, keeping 1 has outstanding.
6. Sales incentives should be different from the delivery incentives on shop floor & support roles.
7. Have incentive plans for all employees to encourge performance.
8. Do not introduce incentives more than 15% of the current Gross salary. For example his compensation is $2000 per month. For this first year of incentive introduction, his increment will be divided into 85% into Gross pay and 15% into incentives.
9. Do not introduce 100% as incentives. Prograssively increase from 15% to 20 to 25% next year. Do not increase incentives beyond 35% of the Gross salary.
10. Company outflow should be on CTC basis. Eg: $2000 per month + incentives earned by him.
Hope this helps.
Regards
From India
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