I was wondering if there is any "scientific formula" to calculate incentives to be paid to employees. How can one arrive at a particular figure for incentive payout? It would be great if anyone could share the incentive calculation methods.
Thanks in advance!
Regards,
Manish
From India, Nagpur
Acknowledge(0)
Amend(0)
17Thanks in advance!
Regards,
Manish
From India, Nagpur
Acknowledge(0)Amend(0)
Dear Manish,
As you work in a software company, the incentives applicable to the manufacturing industry do not apply to you. However, when it comes to incentives for salespersons, they are more or less the same. Any sale exceeding the target will make salespersons eligible for a higher incentive.
Could you please clarify what you are specifically looking for?
Ok...
DVD
From India, Bangalore
Acknowledge(0)Amend(0)
As you work in a software company, the incentives applicable to the manufacturing industry do not apply to you. However, when it comes to incentives for salespersons, they are more or less the same. Any sale exceeding the target will make salespersons eligible for a higher incentive.
Could you please clarify what you are specifically looking for?
Ok...
DVD
From India, Bangalore
Acknowledge(0)Amend(0)
Dear Manish,
When you raise questions, you need to be more specific. What industry do you work in? At what level and in what function do the employees work? What do you mean by incentives to be paid? Are you thinking of individual incentives or group incentives? I could continue asking questions, but I won't.
Please search the web to learn more about incentives as a concept. Then, formulate precise questions, and I am sure some experts will provide you with more details.
Have a nice day.
Simhan
A retired academic in the UK.
From United Kingdom
Acknowledge(0)Amend(0)
When you raise questions, you need to be more specific. What industry do you work in? At what level and in what function do the employees work? What do you mean by incentives to be paid? Are you thinking of individual incentives or group incentives? I could continue asking questions, but I won't.
Please search the web to learn more about incentives as a concept. Then, formulate precise questions, and I am sure some experts will provide you with more details.
Have a nice day.
Simhan
A retired academic in the UK.
From United Kingdom
Acknowledge(0)Amend(0)
Dear all who have replied,
I am talking about a broad formula with a scientific basis to calculate incentives. I am not referring to any specific industry, level, or function.
I have encountered individuals from engineering backgrounds who are seeking a "scientific" formula to determine incentive figures. They require a standard formula where values can be input, and the results displayed.
Thanks,
Manish
From India, Nagpur
Acknowledge(0)Amend(0)
I am talking about a broad formula with a scientific basis to calculate incentives. I am not referring to any specific industry, level, or function.
I have encountered individuals from engineering backgrounds who are seeking a "scientific" formula to determine incentive figures. They require a standard formula where values can be input, and the results displayed.
Thanks,
Manish
From India, Nagpur
Acknowledge(0)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
SAMPLE Employee Attrition Calculation sheet for FY 09-10 .xls