Struggling to Create an Incentive Scheme for Retail? Need Guidance for My HR Project!

Hi Guys,

This is Somya. I'm doing a project in HR at Videocon. For that, I need to prepare a format for incentive schemes for a retail chain like Croma, e-Zone, Vijay Sales, or "Reliance Digital".

Guys, please help me. As I'm new to this field, I'm unable to create any format. I need to establish the basis for incentives. I'll be very grateful. Please help me.

Dear,

You can find related information on the site, but there is no standard format for incentives. Everybody has their own terms and conditions.

For example, a store has a monthly target of Rs10,00,000 per month. The management has decided that if the stores meet the target, they will distribute 1% as an incentive to their employees. If it exceeds the target, they may receive 1.5% or 2%, right? If it is less than the target, there may be an incentive lower than 1% or no incentive at all.

Next is the number of employees. You can set up the incentive percentage based on the grade of the employee. For instance, if there are 20 people in a store consisting of one manager, two cashiers, and 17 customer care executives (CCEs), the incentive percentage may either be equal for all or vary based on the designation.

For example, an incentive amount of Rs10000 could be distributed as follows: Manager - 15%, Cashier - 5%, CCE - 12%. I hope you understand my point.

Regards,
Vipin