Struggling with High Attrition? How to Design an Incentive Plan for Your Team

Dear All,

Can anyone help me in designing an incentive plan for my staff, i.e. including finance, admin, back office, etc.? As you are all aware, the attrition rate is increasing, and such a scheme can help us retain people. I have just started working as an HR and am facing a lot of problems recruiting.

Please help me!!!!

Hi Vijeta,

Welcome to the group.

Staff incentive planning is mainly for the employees who are in Sales or connected with sales. You can plan your incentive scheme as per the targets given to the employees. For example, take the full percentage as 100 then bifurcate it as follows:

- Manager Sales: 30%
- Asst. Manager Sales: 25%
- Operations (including Sales Coordinators): 20%
- Admin: 15%
- Back office: 10%

It is better to plan the incentive scheme in consultation with the Senior Sales Team and the HR Head. I am forwarding you an attachment.

Regards,
Shruti

Hi Shruti,

This is definitely very helpful. My personal view is that sales agents should be entitled to higher incentives than the sales manager. Could you explain the logic of this, as well as the bifurcation given by you? Thanks a lot.

Regards,
Ryan