Progressive organizations have realized
the importance of motivating employees by appropriately
rewarding them for their performance. PLI helps organizations
to move away from traditional fixed bonus pay structure
to performance based pay structure.
PLI rewards are based on actual target
achievement and not on efforts taken to achieve it. This
approach rewards top performing individuals, groups or teams.
It is used by organizations worldwide to promote meritocracy
across an organization. It is a powerful tool and it is
important to understand how they are to be deployed in an
organization. Many organizations that have deployed appropriate
incentive plans have managed to encourage meritocracy and
control manpower costs.
Objectives
of an incentive plan are:
 Driving
appropriate employee behavior
Recognizing
and proportionately rewarding good work being performed
by employees.
Making
employees feel connected with the organization and encourages
performance
We assist organizations in designing this
incentive plan taking into consideration the strategic requirements
of the organization. This variable pay structure is designed
keeping organizational objectives and desired long-term
results in mind along with factoring the business unit strategies
for achieving it.
We work closely with clients to understand
the key business drivers also understand their business
model, business strategy, key performance indicators (KPIs)
of units, departments, teams and individual’s and
design PLI structure to fit their requirement.
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