We are in the process of developing a incentive plan for our employees. We are an IT company as you know. Would appreciate if you could help me with incentive plan and its mechanics as practised in Our industry segment.Focused on a) Front line b) Middle management and senior management.Please. I would be obliged. How do they do in say Infosys/ Satyam /TCS etc. Can any one send me details please.Illustrating teh KRSS and incentive plan working.
From India, Mumbai
1From India, Mumbai
Hi, I am also in the process of developing an incentive plan ..If you have developed anything could you give me a framework or example of the plan. Thanks for the help in advance. Mustafa
From India, Pune
From India, Pune
Hi, I am also in the process of developing an incentive plan ..If you have developed anything could you give me a framework or example of the plan. Thanks for the help in advance. Mustafa
From India, Pune
From India, Pune
I am from Retail Healthcare Industry, my issue is to uniformaly dive the incentive among the staff who are involved in both servie and product sale.
Request to help me prepare a matrix where in the incentive can be planned out gondolawise or brandwise sale.where target of a particular brand or gondola would be assigned to one counselor and then based on sales, incentive would be measured accordingly.
if there is a formula for calcuating incentive monthly or quarterly, please let me know.
Thanks
Rekha
From India, Bangalore
Request to help me prepare a matrix where in the incentive can be planned out gondolawise or brandwise sale.where target of a particular brand or gondola would be assigned to one counselor and then based on sales, incentive would be measured accordingly.
if there is a formula for calcuating incentive monthly or quarterly, please let me know.
Thanks
Rekha
From India, Bangalore
Dear Tasneem,
The best way for commission structure is break the commission in various parts and create a automatic system in excel or any other small application.
1. Commission should be based on gross profit/profit of the assignment.
2. Each Business consumes stationary, utilities (telephone, electricity) on daily basis so before calculating the commission there should be some thing for business for these kind of small expenses. Which would be only for business such as 10% management fee.
3. Then remaining value would be 90% which should be used for commission.
4. Further commission should be separate for sales lead such as 10%. (effectively 9%). This is very necessary specially in UAE market so that commission structure is clear and who so ever bring the business (employee/outsider) will get 10% after management fee.
5. Person who is responsible or in charge of the completion of work (software development, software implementation or other IT work) should get some % like say 5%. (effectively 4.5%)
6. In last dont forget about the team who is working on the project/assignment, lets say 3 employees are working on a project so 15% should split between them based on time they spend on the project or based on milestones they achieve or equally. (effectively 13.5%).
So company would be paying total of 30% but effectively 27%. Which is i guess a win win situation.
Regards,
Amad Memon
From United Arab Emirates, Dubai
The best way for commission structure is break the commission in various parts and create a automatic system in excel or any other small application.
1. Commission should be based on gross profit/profit of the assignment.
2. Each Business consumes stationary, utilities (telephone, electricity) on daily basis so before calculating the commission there should be some thing for business for these kind of small expenses. Which would be only for business such as 10% management fee.
3. Then remaining value would be 90% which should be used for commission.
4. Further commission should be separate for sales lead such as 10%. (effectively 9%). This is very necessary specially in UAE market so that commission structure is clear and who so ever bring the business (employee/outsider) will get 10% after management fee.
5. Person who is responsible or in charge of the completion of work (software development, software implementation or other IT work) should get some % like say 5%. (effectively 4.5%)
6. In last dont forget about the team who is working on the project/assignment, lets say 3 employees are working on a project so 15% should split between them based on time they spend on the project or based on milestones they achieve or equally. (effectively 13.5%).
So company would be paying total of 30% but effectively 27%. Which is i guess a win win situation.
Regards,
Amad Memon
From United Arab Emirates, Dubai
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
Incentive Plan.xls
Incentive Plan policy-template s.doc