I’ve been working on an employee incentive/bonus scheme and have come up with something I believe will prove enlightening, challenging (in the nicest possible way) and effective, with the potential to be extremely rewarding in the long term.
It goes something like this ...
We’ll start by dividing the company into teams according to discipline or service offer. A lockable clear perspex box will be issued to each team and will remain prominently displayed wherever team members spend most of their time. This will be the team’s ‘kitty’.
For this, our first year, Max will present each team member with £2000 in ‘MaxMoney’ which will be deposited within your team kitty. Come our year-end, provided certain criteria are met (easily achievable and explained below) and you as a team have retained the original contents of your kitty, Max will exchange them for the real thing net of tax (true value ±2,600). SIMPLE !
WELL — not quite. Every time your team or a member thereof does anything that impacts negatively on our companies performance (ie. costs Max money over and above that provided for within our budget) Max will take compensation in full from your teams kitty. Your teams misdemeanour(s) and the subsequent cost thereof will be conveyed to all in a monthly newsletter and or get-together. Maybe we can have a ritual burning of your squandered kitty money ?
All is not lost though. Put right the kitty depleting wrong(s) either individually or as a team, at no further cost to Max and you get your money back. You can’t say fairer than that.
If at our year-end we, as an organisation have met our pre-determined criteria you will all receive the same kitty contribution the following year. If on the other hand we over-achieve on said criteria (by pre-determined factors) you will all be offered the opportunity to up the stakes. In doing so you will undoubtedly increase the pressure on yourselves to perform, but will also start the year with larger kitty contributions.
Who knows where this could end up. Ten grand bonus anyone?
End your year (April to April) with nothing or less, and if your still here to participate the following year your individual kitty contributions will remain at two thousand pounds. If the rest of max somehow out performs budgets without your help they will see their kitty's and therefore potential bonus payments increase. You will in effect end up eating bread while those around you eat cake. Consider too how good your going to feel if we only just miss the 'affordability' target and the rest of max loose their bonuses. Your right. CRAP !
Obviously things are going to have to be 'black & white' or as near as, before Max can take compensation from your team kitty. This is where the latest version of our new 'management system' comes in. Follow the process's to the letter and there will be no ambiguity (paperwork, traffic and Concept will see to that). In fact follow the process's to the letter and your team stands a chance of reaching the year-end with it's kitty intact. Screw up and your kitty gets pillaged.
Any dispute or indeed ambiguity regarding ‘kitty bashing’ will be adjudicated by a panel of hard but fair individuals, one from each team. If it's clear cut, Max decides and will instruct Gavin to take the necessary action, so don't give him a hard time, he's only doing what he's been told !
If you disagree with the hit on your kitty let Gavin know why and he will put your case to the panel who's decision will be final. Referrals to the panel that are deemed frivolous in nature will result in the offending teams kitty being hit for the entire panels time. Be warned, panel deliberations involve coffee and cake so may well be lengthy therefore exceedingly expensive - about £390/hr.
The panel are Gavin, Linda, Allie, Kelly and Brian. Any problems with that, take it up with the panel :)
Despite the seriousness of the intent behind this scheme, don't be intimidated by it because it's not that difficult. Work hard at minimising stuff-ups, take the piss out of those that trip up, help them get up if you like, enjoy the experience of being a part of building and accomplishing something special, and above all THINK OF THE MONEY because how big this gets is ultimately in your hands.
Love Max x
