Seeking Advice on Crafting an Effective Production Incentive Scheme in Auto Components Industry

Dear Friends,

I am preparing a Production Incentive Scheme in my organization. I am working in the Auto Component sector. Can anyone suggest to me what the best method for this would be? Also, if anybody can share their production incentive scheme currently running in their industry.

Thanks & Regards,

Ashok Kumar
09818646314

Dear Ashok,

Usually you would find many ideas or ready reckoner/templates for giving production incentives…

Before you do that the following steps are essential :

 Study of the processes – production process

 Pysho-profiling of the individuals involved in the process – this is very essential to ensure that the scheme becomes successful.Identify the key players or opinion makers who make a difference in making the incentive plan.

 Analyse the production data – calculate the average production and the factors accouting for it.

 Philosophy for this new incentive – whys & hows. Views of GM-Ops & workers to be taken into account.

 Cost implications of the incentive.

 Remember to peg the target production above 30-40% of usual production and should be achievable.

 Incentive process should be transparent and involve opinion makers in planning to ensure their support and influence others( also called buy –ins).

Hope this helps...

Cheerio

Rajat

Hi Rajat,

Thanks for your valuable comments and advice. If you or any of our forum members have a prepared or ready reckoner scheme that could provide guidelines for the same, it would be a great help to me.

Thanks & Regards,
Ashok Kumar