Hi everybody, I work in a tours and travels company. My company has 5,000 staff. The day-to-day job includes issuing tickets, booking holiday packages, and sales of these holiday packages. My boss has asked me to design an incentive plan for the employees. Could someone kindly suggest what I can do about it? If anybody knows of any incentive plan that has been in use in the tours and travels sector, please let me know.
Thanks,
Annie
From India, Mumbai
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Thanks,
Annie
From India, Mumbai
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Incentive Policy
1.0 Objective
The variable pay policy has been formulated to recognize and reward the performers of XYZ Tours and Travels in the form of incentive payouts.
2.0 Procedure
2.1 The policy has been formulated keeping in mind the different tasks and the varying levels of difficulty observed in each task an employee is engaged in.
2.2 The payout is made twice a year:
- April Payout based on the performance criteria set for the period October to March.
- October Payout based on the performance criteria set for the period April to September.
2.3 Incentive is based on productivity against the given target in the Goal sheet.
2.4 Incentive is given out of the Booking Amount, which comes from the sale of a package.
2.5 The Departmental Head, in consensus with HRD, reserves the right to bar any employee from this incentive plan.
3.0 Criteria for Incentive Calculation of Domestic Package
3.1 The departmental head defines the criteria/KRAs/targets for assessing the Employee's performance over a six-month period in the Goal sheet.
3.2 In case an employee is on leave (approved by their reporting manager), the performance target will be revised according to the number of days worked.
3.3 Targets will be set at the discretion of the management and can be revised accordingly.
3.4 Employee's performance is rated on a scale of 1 to 6, with 6 being the highest based on the parameters given in the Grid below:
Rating | Rating Goal Achievement | Incentive Payout
--- | --- | ---
1 | Not Satisfactory | <60% | 0
2 | Average | 61-80% | 1% of Booking amount
3 | Good | 81%-100% | 1.5% of Booking amount
4 | Very Good | 101%-120% | 1.75% of Booking amount
5 | Excellent | 121%-150% | 2% of Booking amount
6 | Outstanding | 151% and above | 2.5% of Booking amount
3.5 There will be a monthly review of the performance against the goals set as per the goal sheet.
3.6.1 In the case of Business sourcing, self-sourced (sourced personally or through cold calling or through personal contacts) business will only be considered for incentive calculation.
3.6.2 Incentive will not be calculated for business that comes through office (XYZ Tours & Travels) contacts, e.g., contact generated through Advertisement, customer calls for inquiry in the office, office database, etc.
3.7 If performance is continuously below expectations over the period of 6 months, the employee might be subject to disciplinary action, including termination of services.
From India, Calcutta
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31.0 Objective
The variable pay policy has been formulated to recognize and reward the performers of XYZ Tours and Travels in the form of incentive payouts.
2.0 Procedure
2.1 The policy has been formulated keeping in mind the different tasks and the varying levels of difficulty observed in each task an employee is engaged in.
2.2 The payout is made twice a year:
- April Payout based on the performance criteria set for the period October to March.
- October Payout based on the performance criteria set for the period April to September.
2.3 Incentive is based on productivity against the given target in the Goal sheet.
2.4 Incentive is given out of the Booking Amount, which comes from the sale of a package.
2.5 The Departmental Head, in consensus with HRD, reserves the right to bar any employee from this incentive plan.
3.0 Criteria for Incentive Calculation of Domestic Package
3.1 The departmental head defines the criteria/KRAs/targets for assessing the Employee's performance over a six-month period in the Goal sheet.
3.2 In case an employee is on leave (approved by their reporting manager), the performance target will be revised according to the number of days worked.
3.3 Targets will be set at the discretion of the management and can be revised accordingly.
3.4 Employee's performance is rated on a scale of 1 to 6, with 6 being the highest based on the parameters given in the Grid below:
Rating | Rating Goal Achievement | Incentive Payout
--- | --- | ---
1 | Not Satisfactory | <60% | 0
2 | Average | 61-80% | 1% of Booking amount
3 | Good | 81%-100% | 1.5% of Booking amount
4 | Very Good | 101%-120% | 1.75% of Booking amount
5 | Excellent | 121%-150% | 2% of Booking amount
6 | Outstanding | 151% and above | 2.5% of Booking amount
3.5 There will be a monthly review of the performance against the goals set as per the goal sheet.
3.6.1 In the case of Business sourcing, self-sourced (sourced personally or through cold calling or through personal contacts) business will only be considered for incentive calculation.
3.6.2 Incentive will not be calculated for business that comes through office (XYZ Tours & Travels) contacts, e.g., contact generated through Advertisement, customer calls for inquiry in the office, office database, etc.
3.7 If performance is continuously below expectations over the period of 6 months, the employee might be subject to disciplinary action, including termination of services.
From India, Calcutta
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