How to Test Your Incentive Plan
- Define the right group for the plan. In smaller companies, the right group is usually the whole staff. In larger ones, it could be a branch or a functional unit, but be sure it includes everyone, support staff as well as front-line workers. Remember that business is a team sport.
- Draft up a plan. A handy rule of thumb is to distribute one-third of the incremental gains to employees in the form of a bonus while retaining two-thirds for the company.
- Spell out the details. How much do we get and when do we get it?
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"The pessimist complains about the wind. The optimist expects it to change. The leader adjusts the sails.”- John Maxwell
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