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Pay for Performance and Financial Incentives (F): Designing Effective Incentive Programs @ Indus Research

CASELET, HUMAN RESOURCE MANAGEMENT
ET Cases, 1 page

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Pay for Performance and Financial Incentives (F): Designing Effective Incentive Programs @ Indus Research

 

Indus Research Pvt. Ltd. (Indus), a start-up, is into preparing country, industry, company, product and brand reports. Indus, which started with only 10 employees, had now grown to 40 people. With its growing market and number of employees, Sreedhar Nath, Founder and CEO, decided to have well-defined organization structure, employee KRAs and pay for performance schemes to keep his employees motivated to perform better.............

Teaching Note Preview

Pay for Performance and Financial Incentives (F): Designing Effective Incentive Programs @ Indus Research

 

Synopsis

In response to one of her student’s question: how the pay for performance measures pan out in start-ups, Professor Vandana, after a research of few weeks,  arranges for a conclave on Pay for Performance in Start-ups. In the conclave, six start-ups shared their experiences and challenges in terms of incentivizing their employees. While discussing about the challenges faced by these six start-ups, the series of six caselets introduces participants/students to the sensitivities involved in designing the incentive plans for various types of employees – individual employees, teams, sales people and managers and executives – and also discusses about the building blocks of designing an effective incentive plan...........

Preamble to the Caselet Series Analysis and Suggested Orchestration

This series of six caselets’ purpose is to provide an in-depth understanding of Pay for Performance and Financial Incentives. These six caselets address six broad themes presented in the chapter and accordingly it is suggested that these six caselets’ need to be covered over two sessions to get the required rigor than trying to rush through. A careful analysis of each of the caselet’s dilemma introduces the participants to a new dimension of arriving at an appropriate financial incentive. Students/participants should be encouraged, as each of the six caselets is relatively small, to focus on the details. Accordingly, the suggested orchestration of this caselet series is presented in [Exhibit (TN)-I]...............

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Product code: HRM-2-0038(f), HRM-2-0038(f)A

Abstract


The last in a series of six caselets, this caselet's focus is on the critical components of an effective incentive plan. Indus Research Pvt. Ltd. (Indus) started in November 2012, was a market research firm, preparing country, industry, company, product and brand reports that were widely used in India and abroad, especially in Europe and US. Initially, Indus was founded with only 10 employees, but with its growing number of clients, the employee number had increased to 40. With its growing market and number of employees, Sreedhar Nath, Founder and CEO, decided to have a well-defined organization structure and employee KRAs and incentive schemes to keep his employees motivated to perform better. He wondered as to what could be the building blocks of designing an effective incentive scheme?



Pedagogical Objectives

  • To understand the building blocks of designing effective incentive plans linking the employee performance, their pay and motivation and the impact of financial and non-financial incentives

Case Positioning and Setting

This caselet can be used in either MBA or Executive MBA or Executive Development Programs, for the following module/topic in the Human Resource Management course:

  • Designing Effective Incentive Programs – Building blocks of designing effective incentive plans linking performance, pay and motivation




This Case Pack Includes:
- Abstract
- Caselet
- Teaching Note (**ONLY for Academicians)
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