Last week we sat together with all of our team members to fix the incentive structure. So far we didn’t have that option, as the number of employees were too few. Now with 12 members Subikar worked out the architecture and presented before us.
It is a simple model and will work like the following way:
- Apart from the remuneration/salary, this will be added in the salary account at the middle of the next month.
- An potential project will be tagged with some points depending on the factors like time range, costs and people involved with the project.
- If a project contains 30 points and the deadline is 7 days, then after completion of the project total incentive will stands at INR 25*30= INR 750 e.g. (1 point bearing INR 25).
- Now the members involved with the project will fix how much effort they have given percentage wise. The total incentive will get disbursed among the members. But an employee will be eligible for incentives once he/she completes 6 months in the company.
- A yearly increment of 10% to 30% will be provided after completion of one year, depending on the performance and collaboration with the team members.
All the employees have accepted the structure amidst one hour of discussion. Thanks for system Subikar.
Tags: incentive system
