Incentive

Today currency exchange rates:

200,000 Iraqui dinar ≈ $173.00 US Dollar
200,000 Kuwaiti dinar ≈ $704,225.00 US Dollar
200,000 Tunisia dinar ≈ $126,646.00 US Dollar

Can you tell us a little bit more? For $700 thousand US bucks you might get some interest.

This is easy to resolve.

Do it the way it is done in the USA.

You have 5 groups of workers.

The money is divided equally among the 5 groups to give 40,000 dinar per group.

So, the single Sup gets 40,000 dinar, the 4 Foremen each get 10,000 dinar, the 8 Elect Tech get 5,000 dinar, and so on.

The 50 Gen Labour wouldn't get much.

Current studies show that large monetary payouts are not as much of a staff incentive as they used to be.

Seriously consider using the money to throw a party for all your employees instead. This will show them that their work is appreciated and will likely give them more of an incentive to work towards a common goal than a small payout would.

Additionally you could also give out gifts, awards or bonuses to key staff members or staff who performed above and beyond what was expected also, turning the party into an small awards ceremony.

All this can be scaled depending on how much a Dinar is actually worth (see post #1).

_{Management 101 - Happy workers are productive workers.}

Dear All

Thanks for quick response, I am looking for a formula(xls) for the incentive to have fair share to my work force.

any help please.

Regard

I seriously doubt you will find a formula that will be of help to you.

Unlike engineering, people are difficult to fit into an equation due to the large number of application specific variables and unknowns.

Try modifying a cost vs benefit analysis to fit your staff model.