How To Design A Competitive Package - Please Help

Hello TS,
I cannot share it in totality though the basic idea I can definitely share.
I combined project value with salary then decided upon the share that we can offer as incentive. After that set goals and created different levels of achievement for every profile and fixed incentive amount. On the basis of level of achievement we will pay incentives. The levels are clear and anyone can objectively measure them.
Please provide me your input and if any improvements can be done.
Thanks and regards

Hello Shruts,
Since you have just implemented the slabs, suggest watch for a few months or until the first few projects are completed--whichever is later.
You will then have a first-hand feedback directly from the employees themselves.
What you right now have is akin to the recipe of a good dish in the cookbook--you need to wait until you actually cook it & taste it to give the Final OK :-)
Any changes would be better attempted then.
All the Best.
Rgds,
TS

Hello TS,
Thanks for the feedback, it always helps to improve.
I also thought about the same thing and am keeping another plan too but management liked this one. For actual results, definitely we'll have to wait at least a quarter.
Would be great if you could share some more ideas.
Best Regards,