INCENTIVES
For some jobs a basic salary with no expectation to earn more may be entirely appropriate. For others basic pay may prove to be only a small part of the overall reward package. If you are looking to encourage higher performance or link a measurable outcome to pay this may be something you are considering. Or you may be operating in a market where incentives are considered ‘part of the job’.
Blue Star Human Resources can work with you to establish an appropriate incentive scheme together with how to operate it and review it on an on-going basis.
Together we can:
- review your current pay arrangements and assess whether incentive payments are appropriate for your business.
- research the arrangements applying in similar market sectors.
- understand how to calculate the amount available for incentive schemes and how this should be allocated to staff.
- identify and measure the direct relationship between the amount of any incentive payment and added value to the business.
- recognise the need for different schemes to reflect the needs within the various sectors in your business.
- identify and design appropriate incentive schemes including; commission schemes; individual or team bonus schemes; performance related pay schemes, profit sharing arrangements and schemes to recognise acquisition of new skills and competence.