I need someone who can propose me a few employee incentive schemes in detail based on their accomplishment of individual, department, and company's KPI.
We are a company that has 2 business models.
One is an online website whilst we are also engaged with a few marketplaces to increase our GMV.
Another we are actually a sole distributor for some beauty brands from other countries, whereas they are not only listed in our website and marketplace but also distributing them to offline retailers like Watson's, Sephora, shopping mall, etc. Hence, from these 2 business models we would have a several divisions/departments in place.
- Marketing Team (co-share with offline)
- Merchandising Team (local brand sourcing)
- Production Team (product uploading, content write up, price check, tagging, etc.)
- E-commerce Team (solely taking care of marketplaces from product uploading, price check, to marketing collaboration for promotion and so on)
- Procurement Team (for raising PO, cost optimizing, vendor management, stock replenishment)
- IT Team (only co-share the hardware/software configuration part with offline)
- Warehousing Team (co-share with offline)
- Marketing Team (co-share with online - for on ground event, social media blast, and so on)
- Merchandising Team (international brand sourcing)
- Procurement Team (co-share with online)
- IT Team (for laptop and software update)
- Warehousing Team (co-share with online)
Administrative Team for the company:
- Finance Team
- HR and Admin Team
Generally, we have the following incentive schemes being set up based on board approval.
• Based on monthly basic salary of employee
• 5% incentive (x 3 months) for achieving 90% of quarterly sales target
• 10% incentive (x 3 months) for achieving 100% of quarterly sales target
• 15% incentive (x 3 months) for achieving 110% of quarterly sales target
• Frequency of incentive disbursement - 2nd month after previous quarter (1st month after previous quarter will be for incentive preparation). Reason why it should fall on the 2nd month after previous quarter is to retain their employment whereby they are already at the mid-point of current quarter and ready to chase & achieve the current quarter sales target.
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Greetings! Thank you for sharing a detailed note on your business requirement! I am a qualified HR professional running a HR consultancy with a team of HR professionals. In my last full time assignment, I was global Plus
I am interested, I would need to know what existing benefits, apart from the commissions you have shown, different ages of staff respond to different drivers, just like young staff look for wage but older staff look fo Plus