Business Plan for Incentive Program

Business Plan for Incentive Program The volume of sales can only be increased with the increase in the levels of employee on the job satisfaction. The importance of the role played by the staff members is recognized not just in the services industries, but also in the rest of the industries where actual and material products are offered.

In the case of the shoe retailer, the staff members are the ones who interact with the customers and -- to a high degree -- they influence the customers' purchase decisions and they also stimulate the levels of customer satisfaction. Given this realization, it becomes obvious that the sole means of increasing sales is by increasing employee morale, motivation and on the job satisfaction. This can be achieved through a dual approach -- with financial incentives on the one hand and non-financial incentives on the other hand.

The financial incentives generally refer to wage increases and the offering of premiums and bonuses. Given the limited financial resources available to the employer, the increase of wages is virtually impossible. Nevertheless, the option of offering premiums is viable in the meaning that an artifice would be created. At this level, the employees would be asked to increase their performances and sell more shoes. The employees who manage to double their own sales would be offered a premium.

This premium would be based on commission and it would be offered a few days before the holidays. The possibility of gaining more money and as such improving the holidays by being able to purchase more presents or serve nicer food would definitely stimulate the staff members to increase their performances. In order however for the system to function, it is necessary to develop and implement an internal program of monitoring the levels of sales for each individual, as well as comparing them to previous sales levels.

Aside financial incentives, the morale -- and as such performances -- of the staff members can also be increased through the offering of a series of financial incentives. Two of the more appropriate ones to be offered in this situation include: Flexible working schedules and Opportunities for professional advancement. In terms of the flexible working schedules, these would take the form of allowing the staff members to work more hours in fewer days or fewer hours, spread across more days.

Basically, the 8-hour strict schedule structure would no longer be implemented. The requirement with this incentive is that of ensuring employee collaboration and making sure than when an employee wishes to make use of the flexible working schedule, another staff member is able and willing to replace him. The schedule decisions would generically be subjected to mutual agreements between the staff members, approved by the manager.

The flexible working schedule has the ability to increase employee on the job satisfaction due to the fact that it allows the individual to better balance his personal and professional responsibilities. The individual will not for instance be on the job and worry about a sick child or a parent in need, but he will attend to these problems, and then come back on the job and be more committed and dedicated, and as such more motivated and more performant. In respect to the offering of advancement opportunities,.