10 Keys to Success in Pay For Performance Solutions
Pay for Performance Solutions enables companies to reduce their cost of labor while increasing the average take home pay of their workforce. It’s a sophisticated, end-to-end incentive system that’s accurate, fair and very effective. The cornerstone of our program is a proprietary software system that handles the complexity of the incentive program and enables us to reward employees based on their own level of productivity.
The 10 Keys to Success
1. Employee Bonuses Are Based Directly on the Employee’s Productivity Level
Employees have direct impact on their productivity and reward. Employees are given a Production Goal for the container, pick slip or job order at the beginning of each assignment so that they have a goal to shoot for. .
2. Daily Feedback on Productivity and Bonuses. Daily reports give employees, supervisors and managers vital performance information. An employee will know where he or she stands on a daily basis.
3. Production Goals Are Set at a Fair, Achievable Level. Setting production goals is a critical aspect of bonusing. Top performers need to be achievable and motivating.
4. The New System Removes the Status Quo. There isn’t an increase in costs without an increase in productivity. Doing things as they’ve always been done isn’t the answer. The bonusing program moves productivity levels very quickly in an achievable manner.
5. Complex Software manages the complexity of individual tracking on a daily basis. The IMS software program manages the day-to-day logistics of a complex incentive system.
6. Major Productivity Constraints Are Factored In So Top Performers Continue to Achieve. Some productivity issues are beyond the employee’s control. These issues can be factored into the software and accounted for so employees remain empowered.
7. Production Goals Do Not Vary Too Much By Type of Freight. The type of freight in a container often changes productivity levels. Employees are still very productive its just hard to see. Our system takes type of freight into account.
8. Productivity Gains Benefit Individuals So Motivation Is High. The incentive program creates a bonus for the individual and small team. It impacts the people doing the work. Because bonuses are seen daily motivation for gain is very high and change is usually immediate.
9. Daily Feedback Creates Constant Awareness and Purpose. Productivity reports are provided daily. Employees and Supervisors are aware of where they stand and what they want to achieve. Goal setting becomes a very meaningful exercise when a feedback loop reports success or failure.
10. Employees Understand the System and Know How To Improve. We offer a training program for all staff involved in the program. Everyone should have the opportunity to understand the program and know how improvement can be achieved.