B K BHATIA
Director Of Company
Consultme
Agile Solutionist
HR Nisha
Hr Professional
+1 Other

Cite.Co is a repository of information and resources created by industry seniors and experts sharing their real world insights. Join Network
Hi Friends,
I represent a software development company with 70 employees. We are thinking of introducing a variable pay component that is linked simultaneously to project delivery (from a team perspective) and individual contribution. The scheme should ideally cover all our technical staff. It will be great if anyone who has implemented something similar can share the idea.
Thanks & Regards
Robin Thomas

From India, Kochi
Robin, without automation no variable pay scheme can be truly effective. Automation areas include 'Goal Setting & Tracking', 'Performance Appraisal' & 'Compensation Management'. If you are ready to invest, 'EmpXtrack' does offer a solution implemented by many. You may visit their website & study.
From India, Delhi
1. You may introduce Fixed : Variable ratio for various employee roles across the company
2. As far as variable part is concerned, you need to arrive at business logic to reach variable
2.1 This could be based on contribution to project (team) and individual contribution
2.2 Weightage to be defined for team contribution and individual contribution
3. For project contribution measurement, need to track projects and various attributes like completion, billing, support rating, score etc.
4. For individual contribution measurement, either appraisal rating or take time sheet fulfillment
5. Instead of paying on a monthly basis, it could be easy to administer the payout process, if go for quarterly payout process

From India, Bangalore
Hi Robin,
How much pay you have decided? Pay depends on individual salary or a fixed amount you have decided. Few months back we also applicable it in our company. I've shared some points, hope it'll help you.
You may introduce 2 types of performance i.e.
1. Measurable Performance
2. Non measurable Performance
A. Measurable Performance: Below factors are measured according to your performance.
1. No. Of billable hours in a month:
2. Quality of work (in terms of bugs)
B. Non- measurable Performance: You can take add some points for non-measurable performance. which shows interpersonal skills of employees.
1. Regularity/ Initiative/Deadline/Leadership Skill/ Teamwork/Improvement/Learning Ability/ Loyalty/ Dedication/Time Management etc.
Regards,
Nisha Sharma

From India, Delhi
This discussion thread is closed. If you want to continue this discussion or have a follow up question, please post it on the network.
Add the url of this thread if you want to cite this discussion.






About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service



All rights reserved @ 2020 Cite.Co™