How to create an Incentive Workbench with and without Function in Profit.co?

Profit.co provides an option for HR to set the incentive amount and for the admin to set the incentive frequency and target amount for a user.

Why this feature?

• In organizations, an incentive workbench refers to a centralized system that is specifically designed to manage and administer incentive programs for employees. 
• This serves as a comprehensive tool that facilitates the implementation of incentive strategies aimed at motivating and rewarding employees for their performance and achievements.

How to Add incentive amounts to users?

Navigate to Performance → HR Administration from the left navigation panel and switch to the Reviews tab. click on the More options icon and select the Active Users. 

On the Active Users page, click on the Edit icon of an employee you wish to add Incentives.

In the Update User panel, you can add Incentives to the user.      

How to Create a New Function in Incentive Workbench?

Step 1

To create a new function, navigate to Settings → Performance → Dashboard from the left navigation panel and switch to the Incentive Workbench option.

Click on the +Create button.

On the Create Incentive Workbench page, enter the Function Name and select the Departments. Set the Total Bonus Amount and the Departments Distribution.

Finally, click Create.

To create a new Incentive Workbench with and without Function, follow the below steps:

Step 1

To create an incentive workbench with function, navigate to Performance → Dashboard from the left navigation panel select the Incentive Workbench from the dropdown, and click on the + Create button.

Step 2

Set a name for the Workbench and select the Performance Review you want to analyze.

Select the Incentive Workbench Function that you have already created.

In Review Summary Info, you can select/unselect the Information that will be visible on the table after creating it.

Once done, click on Create. 

The newly created workbench will be displayed on the Incentive Workbench page, click on the View icon to access it.

You will be able to view the Department and Employee details and scores of the selected performance review. You can also Edit the workbench and Export data if necessary. 

Similarly, to create an incentive workbench without function, follow the same above steps. Leave the Function field unfilled and Create. The newly created workbench without a function will be displayed on the Incentive Workbench page.

You will be able to view the Department and Employee details and scores of the selected performance review. This allows you to see the full data as-is, without any function-based analysis. You can also Edit the workbench and Export data if necessary.

Related Answer Post

To learn more about How can HR Admins update the user information of an employee, click here.