Incentive Programs for Self-Set Goals
At 5Core Inc., we reward hard work with customizable incentive programs, allowing team members to set personal goals, be recognized for their achievements, and earn attractive rewards.
How It Works
1. Define Your Goals
Employees can set their own professional or personal development goals, such as achieving sales targets, improving a process, expanding skills, or contributing to team projects. Goals should be measurable, time-bound, and aligned with 5Core’s overall objectives.
2. Get Manager Approval
Once a goal is defined, it will be reviewed by the employee's direct manager to ensure that it aligns with team and company objectives.
3. Track Your Progress
Employees track their progress throughout the agreed timeframe, with regular check-ins with their manager to ensure they’re on track and address any obstacles.
4. Achieve Your Target
When the goal is achieved, employees submit a report demonstrating their progress with necessary data and metrics.
5. Receive Your Incentive
Upon successful completion, employees are eligible for rewards tailored to their specific goals. Rewards can include financial bonuses, additional leave, professional development opportunities, or other exciting perks.
Incentive Program Categories
Sales and Revenue Growth Incentive
Example Goal: Achieve a 10% increase in sales over the next quarter.
Incentive: ₹5,000 bonus for every 10% increase in sales beyond the initial target, with a limit of ₹50,000 per year.
Process Improvement Incentive
Example Goal: Improve an internal process or workflow to achieve a 15% time or cost savings.
Incentive: ₹3,000 for each significant improvement implemented.
Skill Development and Training Incentive
Example Goal: Complete a professional certification or course that adds value to the team.
Incentive: Reimbursement of 50% of course fees, up to ₹5,000 per course.
Team Leadership and Mentorship Incentive
Example Goal: Lead a project team to success or mentor junior members to reach a specific milestone.
Incentive: ₹5,000 for each successful project or mentorship success story.
Customer Satisfaction Incentive
Example Goal: Achieve a customer satisfaction score of 90% or higher over the next three months.
Incentive: ₹2,000 bonus for every 5% improvement in customer satisfaction score.
Social Responsibility and Community Engagement Incentive
Example Goal: Organize a company-led social responsibility or community outreach project.
Incentive: ₹5,000 bonus for successful planning and execution of a CSR initiative.
Innovation and Creativity Incentive
Example Goal: Develop and implement a creative solution that enhances business operations or customer experiences.
Incentive: ₹7,500 bonus for each impactful innovation implemented.
Terms and Conditions
- Each goal must be pre-approved by the employee’s manager.
- Progress on goals will be tracked and reviewed to ensure alignment with company objectives.
- Incentives are distributed only upon successful completion and management approval.
- High-value rewards like car EMI allowance, trips, motorcycles, and down payment assistance are subject to completion of major preset goals.
Set your goals, reach your targets, and be rewarded for your achievements. Let’s grow together at 5Core Inc.!