iWAREHOUSE | Pay-for-Performance

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  • big data, telematics, internet of things

    From Big Data to Actionable Analytics

    Paying incentive is one of the hot buttons in today’s operational world. We want to maintain top employees and drive productivity, but the thought of blindly increasing base pay across the board doesn’t make sense from an overall business perspective. Pay-for-Performance is a good option.

SMARTER EMPLOYEE INCENTIVE PROGRAMS START HERE.

Although we recognize that Pay-for-Performance can be a good option, traditionally better said than done. Mostly because the data-mining and calculations make it hard to properly incentivize. At Raymond, what we know about incentive-based programs is:

+ Incentives should be based on individual performance when practical

+ Report Performance Daily

+ Quality Feedback loop is recommended

  • Quality, Accuracy, Attendance, etc.

+ Adjusting Incentive to Account for Overtime 

+ Program should be self-funding

  • Determine portion of savings to share with the teammates
  • Determine desired bonus payouts at various tiers
  • Calculate increase in productivity needed based on those inputs
  • Validate against current top performers to ensure goals are achievable
  • Shorter “Lock-In” Periods are more effective (daily or weekly)

  • Labor incentives, labor standards

    Self-funded. System-calculated.

    The iWAREHOUSE Labor Management Solution (LMS) includes a self-funded, system calculated employee incentive program. Already have a tracking system or other LMS, but still struggle with Pay-for-Performance? Talk to us. We’ve taken other systems and used our Pay-for-Performance engine to drive incentive programs for customers who otherwise struggle. We want to help you.

Contact Us

Interested in learning more about our cost-to-serve, activity-based costing and other labor management solutions? Please complete the contact form below and an iWAREHOUSE representative will contact you to discuss your request.

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