Designing a Monthly KRA-Based Incentive Scheme: What Guidelines Should I Follow?

Dear All,

I have to design an Incentive Scheme for staff employees that has to be totally based on Monthly KRA Achievement. What can be the guidelines of the process of the Incentive Scheme? Should the payment be yearly to the employees?

Kindly suggest in the above-mentioned area.

Regards, Simta

Hi Simta,

As per our discussion, could you please provide the full structure that you designed? This would make it easier for me to suggest solutions, or perhaps you are having difficulty expressing your question clearly. Kindly let me know what specific information you are seeking.

Best regards,
Akhilesh P.
+91-9990481195
E-mail: ssopcon@yahoo.com

Hi Rishab,

No, I have not yet received any single response in this area. If you have any idea, please share it with me.

Regards,
Simta

Hi Simta :)

For the monthly KRA, you need to clarify whether it is for sales or operations staff. For example, for the sales staff, you need to adjust the incentive structure according to their monthly targets.

For instance, for the real estate marketing executives, they have to sell a minimum of 2 plots in a month. You also need to set the price for one plot. If an executive sells more than 2 plots, then the incentive slab will be different.

It also depends on the Time and Motion study. To determine how much time is required to complete a task. Thus, you can assess how many tasks can be handled in a specified time period each month.

For any incentive system, you need to study the job description and the time required to complete the task. This can help you set the monthly incentives based on the specified KRA according to their job description.

Regards,
Y. Gangadhar