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Hub You - Technician Incentive Plans
Pick up any national or international newspaper, all have one thing in common that is, Navi Mumbai – SEZ. Yes, this has become the latest focus of conversation not only in India but also in majority of the Asian countries. Special Economic Zone or popularly known as SEZ is planned to be set up in India’s most advanced and populace state Maharashtra. And Navi Mumbai (or New Bombay) is the place identified for its set up. Known as the economic powerhouse of India, Maharashtra is the best place to kick start this SEZ.Literally SEZ means “delineated duty-free enclaves that are deemed foreign territories for the purposes of trade operations, duties and tariffs”. With the setting up of zones, majority units may be set-up for the manufacture of goods, provisioning of services, and other activities including processing, assembling, trading, repairing, reconditioning, making of gold/silver, platinum jewellery etc. The main USP is that the whole policy allows 100 per cent foreign direct investment ("FDI") in most manufacturing activities.Completely backed by the Government of India, various SEZs w
For any service department to be profitable they must pay attention to and drive a high revenue recovery. That is they must be charging out a high percentage of their labor hours. A TIP can be a useful tool in driving a high revenue recovery. If an element of the TIP drives billable hours, you will find that non revenue hours wil
Advising others to change career sounds very simple and a workable proposition. When it comes to us, it becomes one of the toughest decisions to implement. A career change needs lot of mental preparation. If you have a family, that may get disrupted by your career change. The income may stop for some time. The decision itself may turn out to be a wrong one. It needs mental strength to change career. Let us see what it requires.A change of career shifts us from a comfort zone to a zone full of discomfort in the beginning. For a full time production engineer, a change to a career as human resources consultant may need a total about turn, back to school and learning new skills for the new job. Some people change careers so totally that it looks incredible. Let us talk about changes that can be done more smoothly. I am talking about learning about a new career along with the old one and then shifting to the new career slowly. This process also requires mental strength, because it needs lot of extra work.The first barrier that one encounters while thinking of career change is- how did I get i
Benefits of a well designed plan
If you don’t have an effective Technician Incentive Plan in place you are missing out on one of the most powerful tools in your management arsenal to drive a high performance service department. Technician Incentive Plans, or TIPs for short, can be so powerful they can drive behavior far beyond what you might expect from an incentive plan.
And if you already have one, maybe it is time for a tune-up to make sure your TIP is driving the behavior you need to develop a profitable service department and accurately reflect your dealership’s current priorities and initiatives. Incentive plans have a shelf life and need to be kept fresh to remain effective. Just because it worked last year, or five years ago, doesn’t mean it will work this year or next.
Let’s take a look at some of the benefits of a well designed and executed TIP. First of all, and maybe the most important, is to reward your best technicians. Let’s face it, top technicians are in high demand and you can probably ill afford to lose one who already knows your product and your customers. Your TIP should reward top techs so that they will be “appreciated” and not be looking for jobs with your competition. If your TIP only does that one thing, it will probably be successful. But a good TIP will go far beyond that initiative.
One sign that we often see in a struggling service department is a high turnover of technicians. This affects the quality of work being performed and increases training costs and lowers technician efficiency. A good TIP will give techs a reason to stay, not just your top techs, but your mid-level techs as well. Retention will improve with an effective TIP. When recruiting new technicians, a TIP can give you an edge that your competitors may not be able to offer. Highly qualified recruits, no matter what the experience level, are always impressed by and attracted to a company that offers an incentive for doing good work. And that is usually the type of new hire you want anyway.
For any service department to be profitable they must pay attention to and drive a high revenue recovery. That is they must be charging out a high percentage of their labor hours. A TIP can be a useful tool in driving a high revenue recovery. If an element of the TIP drives billable hours, you will find that non revenue hours will
The need for skilled trainers continues to grow as America’s workforce meets the challenges of changing technology and information. Acquiring new knowledge and skills is critical to your job success and ongoing professional development.Some workers may be able to walk onto a job and get their hands around it immediately, but for most new employees, training is necessary. That is why trainers are important! It is the trainer’s job to ensure that employees have the knowledge, ability and confidence to tackle their new job.It is important to realize that any trainer needs two separate sets of skills and knowledge. First, they need to know the topic they are teaching (subject matter expertise). Second, they need to know how to transfer that information to the student (instructional expertise). Great Training leads to the following positive results:• employees perform their jobs with more confidence• they learn more quickly• they work more accurately• they get along better with other employees• they’re more capable of training other employees• they w
Let’s take a look at some of the benefits of a well designed and executed TIP. First of all, and maybe the most important, is to reward your best technicians. Let’s face it, top technicians are in high demand and you can probably ill afford to lose one who already knows your product and your customers. Your TIP should reward top techs so that they will be “appreciated” and not be looking for jobs with your competition. If your TIP only does that one thing, it will probably be successful. But a good TIP will go far beyond that initiative.
One sign that we often see in a struggling service department is a high turnover of technicians. This affects the quality of work being performed and increases training costs and lowers technician efficiency. A good TIP will give techs a reason to stay, not just your top techs, but your mid-level techs as well. Retention will improve with an effective TIP. When recruiting new technicians, a TIP can give you an edge that your competitors may not be able to offer. Highly qualified recruits, no matter what the experience level, are always impressed by and attracted to a company that offers an incentive for doing good work. And that is usually the type of new hire you want anyway.
For any service department to be profitable they must pay attention to and drive a high revenue recovery. That is they must be charging out a high percentage of their labor hours. A TIP can be a useful tool in driving a high revenue recovery. If an element of the TIP drives billable hours, you will find that non revenue hours wil
Many new freelancers who start out in their first projects have the unfortunate tendency to go in over their heads. I know for sure since it happened to… yours truly. I’m sure most freelancers can agree that when first starting out, they worry more about how you will find your next projects instead of focusing on the one they already have. Well, I happened to have found a quick project and upon looking at my qualifications, my employer thought it would be good to hire me for a different, longer term project. A freelancer’s dream, right? At least I thought so. It was my very first project and I thought I hit a home run at my very first at bat. Now, I’m a computer programmer/web developer, but I’ll spare the gory techie details for those of you not in this field. I started out being given usernames, passwords and my project assignment, uploading and installing certain website components. There were no other instructions and only the expectation of me to have them installed within a week. I didn’t ask too many questions nor were many asked of me when I went to work. After
One sign that we often see in a struggling service department is a high turnover of technicians. This affects the quality of work being performed and increases training costs and lowers technician efficiency. A good TIP will give techs a reason to stay, not just your top techs, but your mid-level techs as well. Retention will improve with an effective TIP. When recruiting new technicians, a TIP can give you an edge that your competitors may not be able to offer. Highly qualified recruits, no matter what the experience level, are always impressed by and attracted to a company that offers an incentive for doing good work. And that is usually the type of new hire you want anyway.
For any service department to be profitable they must pay attention to and drive a high revenue recovery. That is they must be charging out a high percentage of their labor hours. A TIP can be a useful tool in driving a high revenue recovery. If an element of the TIP drives billable hours, you will find that non revenue hours wil
In this series of articles it proposed to cover the following topics. In this article I have discussed the first one given below. More articles describing the other listed topics below may soon be published.Meaning of BookkeepingDefinition and objectives of BookkeepingAccounting SystemsBranches of AccountingUses of AccountingLimitations of Financial AccountingExplanation of important Accounting termsThe Accounting CycleResponsibilities of an accountantImportance of data in accountingParties interested in accounting informationIn today's world of ours every activity is with some motive, i.e. purpose. In most of the cases. The purpose is to earn profit while in other cases the purpose may be social welfare, providing education, healthcare, etc. Whatever may be the purpose the activity is likely to be an organized affair. Every organization has to use resources-material, labor, services, capital and to work effectively the people in the organization require information. Money must be spent c
One sign that we often see in a struggling service department is a high turnover of technicians. This affects the quality of work being performed and increases training costs and lowers technician efficiency. A good TIP will give techs a reason to stay, not just your top techs, but your mid-level techs as well. Retention will improve with an effective TIP. When recruiting new technicians, a TIP can give you an edge that your competitors may not be able to offer. Highly qualified recruits, no matter what the experience level, are always impressed by and attracted to a company that offers an incentive for doing good work. And that is usually the type of new hire you want anyway.
For any service department to be profitable they must pay attention to and drive a high revenue recovery. That is they must be charging out a high percentage of their labor hours. A TIP can be a useful tool in driving a high revenue recovery. If an element of the TIP drives billable hours, you will find that non revenue hours wil
The Motorola RAZRWIRE Sunglasses are the perfect example of what happens when the latest technology fuses with high fashion. The new RAZRWIRE Bluetooth sunglasses by Motorola and Oakley get two things accomplished with one product - a good quality headset with clear audio, as well as great protection from the suns rays with an attractive pair Oakley sunglasses.Operation is completely hands free, which makes the experience that much more convenient. There are also no bulky cables connecting from device to headset, it's completely wireless. The Motorola RAZRWIRE sunglasses are also very versatile, compatible with any Bluetooth enabled cellphone, home computer, or PDA. This device is the ultimate companion whether you are a hardcore mountain biker or a business consultant, these are the ultimate stunner shades.Talk time is good, at around 6 hours. Standby time is about 100 hours or so - approximately 4 days. Unfortunately, with an average standby time like this, you'll probably have to keep up with charging the Motorola RAZRWIRE's more than your cellphone, though. The overall design of th
For any service department to be profitable they must pay attention to and drive a high revenue recovery. That is they must be charging out a high percentage of their labor hours. A TIP can be a useful tool in driving a high revenue recovery. If an element of the TIP drives billable hours, you will find that non revenue hours will be minimized and thus your margins and profits will improve.
Another side benefit of a TIP is that it can provide an objective evaluation and measurement of your technicians. Too often when it comes time for a personnel review for techs we depend on subjective observations. Your Human Relations Manager will appreciate the objective nature of your technician review. A TIP, if consistently executed, will give you the data to evaluate technicians on the criteria that is being measured and monitored.
Training your technicians is absolutely vital in retaining techs and making sure that they are keeping up to date with the newest technology. If you don’t train them someone else might. Many TIPs make it easier to spot the areas that a particular technician might need more schooling. TIPs can provide the structure for evaluating the types of jobs that a technician usually does well at and the ones that he seems to struggle with. Those struggling areas need training and schooling and both the technician and department will reap the rewards if you invest in training for those areas. By determining your training needs based on known deficiencies you will be able to maximize the impact of your training dollars.
In short, TIP benefits are so numerous and potentially profitable that they should be considered by every management team. And a good TIP that is properly designed and consistently implemented will more than pay for itself, it will improve your service profitability. It should pay for itself many times over.
TIPs will promote Happier Technicians and Happier Technicians will result in Happier Customers. Happier Customers will drive service revenues and profits.
Elements of an effective plan
The most important element of any incentive program, especially one for technicians is to have 100% support and buy-in by all levels of dealership management, even at the very top. If there is any doubt about this support it is unlikely that the program will be long-lived and successful. There will definitely be times that t
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