Level 4: Remuneration

  Would you like to increase your staff commitment to your business goals? With YOUR specific issue in mind, select the area below that best fits. Note: Campaign, Skills Module or Leader’s Briefings signup may be required for some articles Drill down to the article that provides the solution. Staff bonus schemes can increase staff […]

Level 4: Staff Selection

  Do you have the right staff on board? With YOUR specific issue in mind, select the area below that best fits. Note: Campaign, Skills Module or Leader’s Briefings signup may be required for some articles Having the right staff will be a critical determinant of your business success. The following articles assist with staff […]

Level 3: People Issues

  Find the best staff then get the most from them. With YOUR specific issue in mind, select the area below that best fits. Note: Campaign, Skills Module or Leader’s Briefings signup may be required for some articles Drill down to the article that provides the solution. If your business is to grow to any […]

Benefit from Labour Efficiency Ratio Metric

The cost of labour is one of the largest overhead expenses in most businesses.  Any inefficiency here is an expense that must be recovered from the potential Profit of the organisation.  Labour tends to grow of its own accord and it is very difficult for the business operator to know just how labour productivity is going as costs are rising.  The Labour Efficiency Ratio discussed in this article is an early warning alert if wages are moving in the wrong direction.    Read this if: You have have sufficient staff to find yourself losing track of their costs and contribution to company productivity / profitability or if you are looking at putting on staff, like accountants, that don’t directly contribute to profit generation. Probably more likely to appeal when you have 10 staff or more.    Relies on: mentions a metric dashboard to monitor your business. Audio/visual materials: none  Degree of Difficulty: Blue Belt (intermediate)

Secrets to Staff Bonus Plans

Paying staff a bonus or other incentive is a well tested method of improving their commitment to the business’ management goals. The secrets of the Staff Bonus Plans are revealed below.

Read this if: you want to know more about how bonuses should be constructed to drive the goals of the business.  Many bonus systems are not well thought out and don’t help to improve the things the owner/ operator really wants while costing money and raising the expectation of the staff.  Learn about a whole range of techniques you can use to to construct a workable set of goals for your business that focus on achieving what you want.

Related to: part of the human resources materials in 12Faces so you may find other topics of interest in that category in the 12Faces  ‘Contents” menu 

Degree of Difficulty:  this is a yellow belt (introductory) article that should be useful to all levels of management experience. Yellow Belt

error: Content is protected !!