Hello,
This is my post here and I am hoping that i will gain some valuable from your experience.
Our company is thinking of implementing a good incentive plan for all employees at all levels. I am trying to do some research and understand this in a better way before we start this project.
We are a manufacturing company and we do have a incentive plan for sales team but we want to make the plan for the whole organization now right form worker at floor level to the CEO and across all departments, finance, quality, HR, strategy, marketing, production, IT, shared services etc.... We do have a bonus system but its not completely based on performance. So we want to quantify the incentive plan to be fair to all and linked to their performance.
Also, i have some basic questions like how often we should review the performance under these plans, what should be parameters to measure the performance for different levels at different departments as all cannot be measured on same parameters.
Need guidance and support from you all.
Thanks
Vipul
This is my post here and I am hoping that i will gain some valuable from your experience.
Our company is thinking of implementing a good incentive plan for all employees at all levels. I am trying to do some research and understand this in a better way before we start this project.
We are a manufacturing company and we do have a incentive plan for sales team but we want to make the plan for the whole organization now right form worker at floor level to the CEO and across all departments, finance, quality, HR, strategy, marketing, production, IT, shared services etc.... We do have a bonus system but its not completely based on performance. So we want to quantify the incentive plan to be fair to all and linked to their performance.
Also, i have some basic questions like how often we should review the performance under these plans, what should be parameters to measure the performance for different levels at different departments as all cannot be measured on same parameters.
Need guidance and support from you all.
Thanks
Vipul