Incentive Plan of

Submitted By:
Nimit Bansal(D-32)
Ayushi Kandari(D-)
Sakshi Goel(D-04)
Amisha Singh(D-)
Mahi Aima(D-)
What is Incentive Plan?

• Incentive plans are a type of employee compensation structure that

uses certain rewards to motivate team members to work harder and
achieve specific goals. This type of compensation goes beyond the
paycheck and benefits that all employees should receive for the hours
they work.
• Incentive plans are formalized approaches to offering recognition and
reward to employees for meeting pre-established goals or objectives.
Incentives may include cash bonuses, profit sharing, additional paid
vacation time or any range of prizes such as gift cards, corporate
merchandise or other products or services.
Types of Incentives
• Monetary or Financial Incentives: Dearness Allowance, Profit Sharing,
Co-Partnership, Bonus

• Non-Monetary or Non-Financial Incentives: Job Security, Paid

Vacations, Opportunity of Progress, Knowledge of Results
Importance Of Incentive Plans
• Motivational Tool: Incentive programs motivate employees to push and
challenge themselves to achieve higher degrees of productivity. This ultimately
translates to increased earnings for your company.
• Promoting Teamwork: Incentive plans tied to teamwork or group initiatives can
help promote collaborative work efforts in your business. Staffers working in
teams that collectively rely on each others' productivity for the group to receive a
bonus or award may support and encourage each other to perform at top levels.
• Service Levels: Employees competing for or striving to meet the goals of an
incentive plan may provide higher degrees of service to your customers.
• Morale Boosters: Incentive plans have the potential to raise morale and increase
job satisfaction in a company. Employees see a direct correlation between their
work effort and their earning potential
Incentive Plan at HCL Technologies
• Profile: Associate Software Engineer
• Incentives
 Company Pension Scheme
 Individual Development Plans
 Childcare Vouchers
 Free Fruit
 Birthday Off
 Season Ticket Travel Loan