The business was looking good, and the company was ready to reward their employee. Our clients found difficulty in deciding on employees’ individual rewards. Their set-up was not clear on how to measure employee performance and translate it into bonus payout for them. We brought solutions by designing a comprehensive and business-linked performance appraisal. We combined business and individual results demonstrated by employees. Second, we designed their new bonus scheme.
- Outcome 1: Performance-based bonus scheme
- Outcome 2: Competitive compensation salary structure for each level (customized to fit the company’s financial goal)
The Challenge
Our clients found difficulty in deciding on employees’ individual rewards. Their set-up was not clear on how to measure employee performance and translate it into bonus payout for them.
The Approach
- Focus group discussion with the company’s reward team and finance team
- Financial analysis to translate business achievement into employees’ bonuses
The Result
We designed the company’s new bonus scheme. This scheme focuses on the company’s business ambitions and the differentiation among grades. Lastly, the scheme is easy to communicate to employees to ensure they are motivated toward business goals.
