Hi Seniors & friends,
How can we decide how bonus/incentive should be given to a particular employee when you cannot measure achievement in terms of revenue target.
My organization is into entertainment industry and is planning to start incentive/bonus plan for client servicing & operations staff. How can we decide how much we should give as bonus.
I have developed a list of objectives that are important on client servicing & operations part. Also, as we work on project basis, shall I consider the project value as well? Or, incentives should be some percentage of employees' salary or a fixed amount for all (irrespective of salary).
Please help me as this is very important and urgent.
Kind regards,
Shruts
From India, Delhi
1How can we decide how bonus/incentive should be given to a particular employee when you cannot measure achievement in terms of revenue target.
My organization is into entertainment industry and is planning to start incentive/bonus plan for client servicing & operations staff. How can we decide how much we should give as bonus.
I have developed a list of objectives that are important on client servicing & operations part. Also, as we work on project basis, shall I consider the project value as well? Or, incentives should be some percentage of employees' salary or a fixed amount for all (irrespective of salary).
Please help me as this is very important and urgent.
Kind regards,
Shruts
From India, Delhi
Dear Shruts,
We do not have enough information to guide you properly. For example, how amny people are involved? How long is the duration of the projects? Can all the employees directly contribute to the project?
Also, please post the list of objectives that you have prepared.
Have a nice day.
Simhan
From United Kingdom
We do not have enough information to guide you properly. For example, how amny people are involved? How long is the duration of the projects? Can all the employees directly contribute to the project?
Also, please post the list of objectives that you have prepared.
Have a nice day.
Simhan
From United Kingdom
Hi,
I am working as HR manager in Advertising Industry.We couldnt measure the performance of client servicing executives .There is no Incentive plans.So employees are not motivated
Pls give some suggestions
Kind regards,
Shree
From India, Coimbatore
I am working as HR manager in Advertising Industry.We couldnt measure the performance of client servicing executives .There is no Incentive plans.So employees are not motivated
Pls give some suggestions
Kind regards,
Shree
From India, Coimbatore
Dear Shree,
I am into Events industry and I feel events & advertising are somewhat similar. I am sharing here what I have implemented, hope this would be of some help.
I correlated the performance of Client Servicing Executives with Marketing department as their role is in direct touch with Business Development department and have developed some KRA's & KPI's accordingly. Also, there is a feedback form (monthly report) for every department separately and included a few questions in each that are related to others' work. This gives us idea about everybody's performance in all related departments.
Based on all the feedback we have decided upon the slabs for incentives. This is what I have created and currently being followed in my organization.
Please provide me input on that and any suggestions to improve.
From India, Delhi
I am into Events industry and I feel events & advertising are somewhat similar. I am sharing here what I have implemented, hope this would be of some help.
I correlated the performance of Client Servicing Executives with Marketing department as their role is in direct touch with Business Development department and have developed some KRA's & KPI's accordingly. Also, there is a feedback form (monthly report) for every department separately and included a few questions in each that are related to others' work. This gives us idea about everybody's performance in all related departments.
Based on all the feedback we have decided upon the slabs for incentives. This is what I have created and currently being followed in my organization.
Please provide me input on that and any suggestions to improve.
From India, Delhi
Incentive plans for managers.doc
Firms Tweak Bonus Plans.pdf
Amendment to Payment of Bonus Act 2015.jpg