How to Design an Incentive Scheme?

Incentives
Knowledge Center

 

Next Topic

Incentives > Forum > How to Design an Incentive Scheme?

How to Design an Incentive Scheme?
Wisdom Dorheame, Student (University), Ghana, Member
What are the main factors to consider when designing an incentive scheme of an organization? (...) Read more? Sign up for free 16-11-2019
 

Please register now to read all responses and to join this discussion yourself. It's easy and 100% free.

    Log in

 
Factors in Creating an Incentive Scheme
Jaap de Jonge, Management Consultant, Netherlands
Here are 3 main factors and some corresponding elements to get you started in preparing for the creation of an incentive scheme for an organization or a firm:

TYPE OF ORGANIZATION
- Profit or non-profit
- Large, medium or small
- What part of the organization is involved (its management, sales people, )

PURPOSE OF THE INCENTIVE SCHEME
Why does the organization (company) wants to reward performance through incentives?
- What specific business performance is it looking to improve?
- Is there a set of common design principles that can be applied?
- Which kind of employees will participate?

WHAT IS TO BE REWARDED
What specifically does the organization (corporation) want to reward? For example:
- Improved financial performance
- Certain behaviors
- Certain improved competence
- Adherence to the company values. 21-11-2019
 

         
Special Interest Group Leader

Interested? Sign up for free.


Incentives
Summary
Forum
Best Practices


    Incentives
    Knowledge Center

     

    Next Topic



    About 12manage | Advertising | Link to us / Cite us | Privacy | Suggestions | Terms of Service
    2019 12manage - The Executive Fast Track. V15.2 - Last updated: 12-12-2019. All names of their owners.