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Brand factory (future group in retain co)

Motivational needs of individuals who working in different organizational


environments. This finding the emphasizes the significant factor that affecting
the amount and quality of employees’ efforts. The desire to earn more money
may come from economic needs or from the individual equating monetary
reward with the organization's recognition of his ability.

Well an employees can increase their productivity significantly if they receive a


fair share of the added output.

An average level of productivity jumped from 86.4 percent to 123.5 percent; that
is, an increase of 42.9 percent. This indicates that although incentive schemes
are not the only means of improving performance, they obviously can have a
significant impact.

Stages in Developing an Incentive Scheme


Development of any incentive scheme requires the following stages:
1. Generating a relevant list of PCs (PCs = Performance Criteria, PC =
Performance Criterion)
we are concerned with evaluating the performance of an organization,
many PCs may be considered relevant
2. Choosing the preferred set
3. Measuring present performance
4. Assigning standards to the chosen criteria
5. Formulating the incentive equation

The incentive scheme is based on the results of employees’ evaluation with


regard to chosen behavioral attributes. The scheme includes subscheme, of
employees that is is reported in this section. Here it used for documenting the
evaluation results.
Group 1 of PC. There are five general weighted performance criteria (weight is
given in brackets):
1. Discipline at work (15)
2. Professional knowledge relevant to the last period's projects (30)
3. Human relations (15)
4. Production and quality of performance (20)
5. Dedication at work and responsibility (20)

This criteria was based on relative importance and the potential impact that they
may have on the success of performing the job under evaluation.
Each criterion consists of 4 subcriteria . A 7-point scale for each sub-criterion is
used for evaluation, where 4 is the lowest grade and 10 is the highest.
Here we obtain a maximum grade of 40 points (4 subcriteria with a maximum of
10 points each), the value of the denominator is 40. Thus, GlEFF(k) will be
within the range
Group 1 of Performance Criteria of employess

(Note that the values circled represent the performance of a specific employee.)
Grade scale
Excellent 10
Very good 9
Good 8
Above averge 7
Average 6
Below average 5
bad 4
Not relevant 3

calculating the employee's incentive:

Continuing the previous numerical example, in which G1EFF = 72.875, if the


employee load factor is LF = 1.1, then
EFF(K)=72.875*1.1=80.1625
Calculate the bonus, BONUS (k), for employee k by using the following formula:
K= (amount of money assigned for bonuses in that dept)/ (number of employees in that
dept)

In order to find the employee's bonus, the EFF(i) for all the employees in that
department has to be calculated For example, if amt of money assigned for
bonus = $15,000 and there are 6 employees in the department with EFF(i) as
follows,
EFF(1) 115
EFF(2) 120
EFF(3) 80
EFF(4) 60
EFF(5) 95
EFF(6) 110

then the bonus for employee 3 is:


bonus for empl (3)= 15000/(115+120+80+60+95+110)*80
=2068

CONCLUSION
It is obvious that such a scheme increases the motivation of the employee to
use a greater part of his potential for the company's needs. Consequently, a
company may find that the benefits reaped by introducing a wage incentive
scheme far outweigh any increases incurred in salary costs.

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