Incentive schemes under the spotlight

BONUSES

Incentive schemes under the spotlight

Many employers use bonus schemes that are linked to an increasingly diverse range of business objectives. A recent issue of IRS Employment Review analyses the key criteria that determine a scheme's effectiveness and looks at the bonuses operated by two employers.

This four-page report by IRS features two case studies:

• Goodyear Dunlop Tyres, Wolverhampton: Multi-factor bonus scheme covering all 520 employees, including management. Level of bonus based on production, quality, health and safety, attendance and customer services indicators.
• Asda: "All-colleague bonus scheme" operates at site level and covers all staff within that business unit. Bonus based on store or depot's performance against its annual business plan and set profit targets.

Want to know more?

Title: "Bonus schemes: incentives used to boost performance", IRS Employment Review 807/Pay and Benefits, 3 September 2004.

Availability: Contact the subscriptions department at IRS in London, tel: 020 8686 9141 or visit www.irsemploymentreview.com

Posted 9 September 2004