Employee incentives calculation must be a very important thing. Because incentives are employee rights that are eagerly awaited by every employee. Because this intensive itself becomes one part of the income or income of each employee. Usually, this incentive is given along with a salary which of course becomes the employee’s right. For example, permanent employees who receive a monthly salary will also be accompanied by incentives when receiving a salary.
Maybe you are a startup business and are still confused about this incentive calculation. You don’t need to be confused now because you can see the calculation menu below. But first, there is nothing wrong if you know more about this employee incentives calculation.
Straight Peacework Plan
Calculating incentives is not a difficult thing to do. Especially if your company has HR or finance who are always ready to help with this calculation. This incentive calculation is the most common method used by companies. Because the calculation system can be said to be relatively simple with the use of easy formulas. To calculate it, you only need to calculate the wage rate per piece times the excess productivity above the average standard.
Maybe some companies still perform employee incentives calculations manually. It doesn’t matter if you do it just make sure the results of the calculation are correct. Because after all this incentive can provide its welfare for your employees. If you want to get a more precise calculation result, then you can use another method. For example, doing calculations using a computing system until the results are accurate. Or now you can look for an online application to help calculate incentives quickly.
One Hundred Percent Bonus Plan
Another method that is also often applied in several companies in employee incentives calculation is different. This method is usually called the One Hundred Percent Bonus Plan which is also easy to do. Calculating incentives in this way can be done using time units per unit. So this calculation can be formulated in the form of the actual performance formula divided by the result of the standard performance calculation times the hourly wage.
In short, you can first multiply standard performance and hourly wages. Later you will get the multiplication result. Only then will the actual performance of the employee be divided by the multiplication result you have previously obtained. Just like before, you can do this calculation manually. But to shorten the time, you can take advantage of online application services.
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Taylor Peacework Plan
Another way to calculate incentives for employees, namely by using the efforts of the Taylor Peacework Plan. This calculation system is implemented by being classified into two types. The first is a type of incentive for employees who have succeeded in delivering below-average results. The second type refers more to giving results above the average.
Of course, this employee incentives calculation method can be done quickly and easily, especially if you are used to it. To be able to calculate it, you only need to know for sure the results of the employee’s work. Because the amount of production from these employees also determines the number of incentives you receive. The more your results, the greater the incentives received.
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Peacework Plan Group
Finally, there are other ways of employee incentives calculation. The method referred to in this case is the Group Peacework Plan. Maybe right now you are still wondering how to calculate it. Maybe this type of incentive still makes you curious about how it is calculated. Just like the others, the calculations can be easy if you are used to doing them.
For more details, first, you need to know that this incentive is given to the team. So this incentive is not given to each individual but each group. Generally, this incentive is given to each division that has succeeded in achieving the target according to the company’s expectations. Usually, this incentive will be given to the inner group for production results within a certain period. The calculation is not complicated because you only need to add bonuses and team wages. Then the results are shared among the entire staff of the team.
Employee Incentive Tips
Employee incentives calculation that is done correctly will give accurate results. Of course, the provision of this incentive can be a gift that can be useful, especially for employees who receive it. So it can be said that the provision of these incentives cannot be done arbitrarily. But of course, several indicators also need to be considered in providing incentives for employees.
Some things that need to be considered, for example, employee performance. Of course, you can provide incentives for employees who have made achievements. What has been achieved by employees should be rewarded, for example by providing incentives. In addition, you also need to consider employee performance. If employees have had good performance and productivity, they may receive incentives.
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Another thing that can also be a consideration for you to incentivize employees is the length of service. If your employees have a long enough tenure, you can give them incentives. However, the definite form of employee incentives calculation can provide positive energy for every employee who receives it. So employees who receive it can be more motivated and increase their work power.