Development of a HR motivation system
Even the most advanced motivation system becomes outdated over time. Changes are constantly taking place both within the company itself and in the external environment. A motivation system aimed at solving strategic business problems must respond to changes and adapt flexibly to them.
Obviously, to maintain the effectiveness of the motivation system, it needs to be reviewed from time to time.
How often should the motivation system be reviewed? Whenever a manager has questions:
The old motivation system threatens the business with consequences that can be expensive:
The best solution is to evaluate the motivation system and change the material motivation system for personnel so that it meets the requirements:
Transparency: a person must have a clear idea of how he can influence his income level;
Objectivity and fairness: the amount of material remuneration for each employee must be brought into line with the volume of tasks performed, their complexity and performance;
Competitiveness: the income level must be determined taking into account the market situation and field of activity;
An adequate ratio between the constant and variable (bonuses and bonuses) parts of the remuneration (bonus payments must be valuable to the employee).
We propose to develop an effective financial motivation system for your company.
THE PROJECT MAY INCLUDE THE FOLLOWING STEPS:
1
We analyze the company’s business strategy, its goals and objectives, business performance indicators, the current motivation system, the structure of the payroll fund, the ratio of the constant and bonus (variable) parts of employee income, and the management accounting system.
2
We analyze functional responsibilities, powers, areas of responsibility for various positions. At this point, it often becomes necessary to adjust the structure before making changes to the reward system (we can include this task in the project).
3
We identify key results by position and formulate approaches to measuring results.
4
We create a working scheme according to which the organization’s bonus fund will be distributed.
5
We are creating a model that will be used to calculate wages.
6
We develop regulations on the motivation system, detailing how this system will work in your organization.
7
We implement the developed motivation system and evaluate the results.
The project is being implemented in close cooperation with the company's management team
Thanks to this, we will be able not only to create a motivation system specifically for the needs of your company, but also to ensure its implementation.
AS A RESULT
- The result of the project will be the development of a material motivation system, including an incentive model in spreadsheet format, as well as a document (regulation) on the motivation system in your organization.
- During the implementation of the motivation system, our experts will provide support in preparing and conducting a presentation of this system to all employees of the company. We will help you analyze the results obtained in the first months of implementing the motivation system, as well as adjust it based on the results of the test period.
DEVELOP A MOTIVATION SYSTEM
TO ACHIEVE BUSINESS GOALS
NEED A CONSULTATION?
