Description:
Design and implement an incentive program that rewards employees based on performance metrics and goal achievement.
Duration: 5-7 weeks
Major Activities:
- Identify key performance drivers for incentives
- Define incentive structure (monetary/non-monetary)
- Align program with company financials and budgets
- Set clear performance criteria for eligibility
- Develop tracking and payout mechanisms
- Communicate program details to employees
Deliverables:
- Incentive program framework
- Eligibility and reward structure guidelines
- Performance tracking system
- Communication plan and employee handbook
- Payout and monitoring procedures
Project Tips:
✅ DO:
- Keep incentive criteria clear and transparent.
- Align rewards with business goals and performance impact.
- Communicate the program effectively to drive engagement.
❌ DON’T:
- Offer incentives without clear performance tracking.
- Make rewards too complex or difficult to achieve.
- Ignore employee feedback on incentive fairness.