Hi
Greetings
Please Guide Me, I have to prepare a performance bonus policy for Support staff(Admin, MIS Executive, HR)
I am working in a consulting firm.
Kindly let me know how to calculate and % age as well.
Thanks
Regards
Manpreet
From India, Delhi
Greetings
Please Guide Me, I have to prepare a performance bonus policy for Support staff(Admin, MIS Executive, HR)
I am working in a consulting firm.
Kindly let me know how to calculate and % age as well.
Thanks
Regards
Manpreet
From India, Delhi
Dear Manpreet,
What kind of consulting business your company handles? What are the core departments? What are the supporting departments? What is the total employee strength in your company?
Before making policy on "Performance Bonus", you need to have policy on performance itself. Have you done that? Have you devised means to measure the performance scientifically? Do you measure what deserves to be measured? Performance bonus depends on the score employee attains in quarterly or half-yearly Performance Appraisal (PA). Do you have proper Policy on Performance Appraisal (PA) ? If yes, has it been communicated to all the staff members? If communicated, has it been understood by them?
If your policy on PA, by chance, is flawed, then obviously your policy on performance bonus will get flawed. Therefore, I recommend you checking first whether the proper foundation is laid or not. Else it could impact the employee motivation and organisation culture in general.
PA is a powerful source of employee development. However, it is double edged sword. On its wrong application, it undercuts growth and leads to employee attrition as well. Therefore, I recommend you exercising utmost caution. Feel free to call me on my mobile for further queries, if any.
Thanks,
Dinesh Divekar
From India, Bangalore
7855What kind of consulting business your company handles? What are the core departments? What are the supporting departments? What is the total employee strength in your company?
Before making policy on "Performance Bonus", you need to have policy on performance itself. Have you done that? Have you devised means to measure the performance scientifically? Do you measure what deserves to be measured? Performance bonus depends on the score employee attains in quarterly or half-yearly Performance Appraisal (PA). Do you have proper Policy on Performance Appraisal (PA) ? If yes, has it been communicated to all the staff members? If communicated, has it been understood by them?
If your policy on PA, by chance, is flawed, then obviously your policy on performance bonus will get flawed. Therefore, I recommend you checking first whether the proper foundation is laid or not. Else it could impact the employee motivation and organisation culture in general.
PA is a powerful source of employee development. However, it is double edged sword. On its wrong application, it undercuts growth and leads to employee attrition as well. Therefore, I recommend you exercising utmost caution. Feel free to call me on my mobile for further queries, if any.
Thanks,
Dinesh Divekar
From India, Bangalore
performance bonus can be based on incentive scheme which are framed as per the goals of organization . Like for HR you can put a criteria that time lag between manpower requisition form and release of offer should be less 15 days up to a certain level.
From India, Mumbai
From India, Mumbai
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