How to establish an effective employee incentive system

1. Target analysis.

Determine what you want to achieve at each step and what factors are decisive for your company's operations, whether it's sales, service, safety, customer loyalty, or quality.

Objectives should support the company's overall goals and reflect the realities of the market, its customers and its target customers. Increasing sales is a common goal.

2. Define the participants.

Once the goal is determined, analyze who will have an impact on the outcome of the goal.

Because of the different market conditions and the backgrounds of the participants, the better you know your target participants, the easier it will be to design and motivate them to meet your company's operational goals.

3. Budget standards.

Generally speaking, the incentive fee for an incentive program is raised from the project itself. For example, the sales plan is to take 10% of the sales target as a reward after it is achieved. If the project itself is not profitable, such as customer satisfaction.

Then, making an investment in the incentive society will provide benefits for the company's growth and long-term development.

4. Formulate a plan structure.

The program structure helps with institutional objectives and budget standards. Specify conditions in the structure that state to participants what is expected of them and what they will expect in return if they achieve the desired goal.

There are two ways to build a planning structure: open (fixed) and closed (variable). Both methods have their own advantages and disadvantages. The best way to do this is to use a combination of the two methods.

5. Determine the reward prizes.

The participants were identified earlier and the program structure was designed, and the next step was to determine the type of prize.

Why is it the best way to motivate participants? Do they have children? Do they like sports?

Do they like to travel? What have they done and what have they gained?

6. Follow-up plan.

How to measure and track participants' individual performance and progress is a key component of implementing an incentive plan.

7. Management objectives:

Record the performance of each participant, and make regular reports.

Calculate and distribute rewards.

Awards, prizes, and commendations.

Reward prizes should ensure that they are valuable and attractive, and reward prizes should be distributed on time.

1) Awarded in person at the meeting.

2) Try to announce and distribute prizes in a timely manner, when participants are still highly enthusiastic and fresh about the program.

3) Ensure that the reward prizes are easy to manage and easy to distribute.

Sharing the success results with employees at the celebration is the best time to consolidate and promote the company's vision and business plan. At the same time, the administrator can recognize and recognize the achievements of the outstanding ones.

8. Plan evaluation, communication and feedback.

Only by estimating and summarizing can an incentive plan be feasible and effective, and can we ensure the realization of the goal and control it within the established cost range.

1. Wage incentive mechanism. A person's economic foundation determines his living status, and the company provides a reasonable wage system that can motivate employees to work actively.

2. Flexible job setting. Put the right people in the right roles. Each employee who has just joined the company will have his or her own position, but after working for a long time, the employee's work skills will also improve, and he may also be interested and enthusiastic about other positions, and the company should provide convenience for employees to transfer jobs.

3. Training and exchange opportunities. Working behind closed doors is not conducive to the improvement of employees' skills, let alone taking advantage of the company's progress, and the company should provide employees with more training and opportunities to participate in external activities to communicate.

4. Support of technical hardware environment. With the continuous progress of science and technology, the company should also follow the development of the times, introduce more advanced technology, and create a good working environment.

5. Recreational activities. After a long time of work, the company can organize a period of recreational activities, so that employees can carry out activities, relax their spirits, and better improve work efficiency.

There are many ways to motivate employees, how to motivate colleges and universities is a very difficult thing to master, how to choose the right incentive method is very important.

(1) Goal incentives

When selecting goals, managers should pay attention to the fact that they should show the attractiveness and direct interest of employees, so that they are full of fighting spirit, and combine employees with corporate strategic goals to better and faster improve the enterprise development plan.

(2) Incentives for rewards and punishments

When the employee's own work has a greater role in promoting the development of the enterprise, they should be rewarded; On the contrary, when an employee fails to complete the tasks assigned by the enterprise on time and in quantity, if there are no other objective factors to hinder the failure to complete the task, he or she shall be punished to a certain extent. At the same time, Tuheng managers should understand the employees' desire to be affirmed for their own efforts, promote employees within an appropriate range, and carry out employee incentive mechanisms in a number of effective ways.

(3) Participation incentives

When the enterprise holds a variety of seminars, it can provide employees with certain opportunities to speak, encourage employees to put forward opinions for the enterprise, listen carefully to the suggestions of employees, enhance the sense of honor of employees, so that they can truly participate in the daily work of the enterprise, change the traditional leadership speech, employee implementation mode, give employees the opportunity to put forward their own suggestions, and inject new strength into the development of the enterprise.

(4) Material incentives

Material incentives are the most important incentive methods in modern enterprise compensation management. The use of material incentives can not only help employees with basic living security, but also a good way to motivate employees. Material rewards are the carrier that directly reflects the personal value of employees, and is a direct form of realization of the company's affirmation of employees' abilities, and employees will also have a certain sense of achievement.