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PMS helps you to retain the best resource in the organization and vice versa.
applying them. having schemes that are not reasonable and not achievable is a waste of time,and they will not motivate employees.you must have schemes that fit the expectations of your employees.
study your work force demographics and psycographics before borrowing incentive schemes that are designed for other companies and other countries.most incentive schemes i see are borrowed without proper analyses.
understand,analyze your staffs stimulants and motivations first then apply acceptable schemes.
Today, Businesses practice different models in line with Bell curve. In my organization, we have a9 box model - One axix for results and other axis for Behaviors!.
Results are straight forward and rating is straight forward. You can win with your efforts.
Behaviours is the topic too subjective and company follows a calibration model with peers of the bosses or higher ups to eliminate any bias of the bosses. To get higher ratings in behavior, you need to have visibility in the organization as peers and bosses and higher ups should recommend you for higher ratings.
Winning way: Ensure you do exceed in your results and develop networking in the organization so that, members in higher management recognize you!! This is how a leaders and top talents are recognized and developed.
There are many staff incentive schemes based on performance.
They are
· Time rate- rate* time spent
· Piece rate . Rate per piece
· Combination of time and piece rates advantageous to the employee who can produce more at the same time
· Now a days it is the PMS that matters.
· You should be at the top of the stack (which is a bell shaped curve).
· If you have any unauthorized leave or roster non adherence or complaint about bad behavior points get deducted from your PMS.
By mapping the incentive schemes to the pre-agreed performance measures.
In wester organization they design their inentive based on generation X & Y as both have their own choice of attraction but if we are unable to focus at this level then at least we should consider our work force dynamics. It is better to conduct an internal survey to get insight of employee voice and it helps HR to review their incentive policy.
Hello Muhammad,
the right way is only good access to them and open communication.
With best regards,
Mike
