I Have a Wealth Gathering Array-Chapter 238: Celestial Fortune Reward Mechanism!
After Zhao Tianqiang finished his report, Qin Yun asked him to sit down and continued, "Here is the sales report for our eighteen stores. Now I’m announcing a reward mechanism for all of these stores!"
"Including the ones newly opened in March, the fourteen stores of forty square meters each shall have a sales target set at 400,000, with employee salaries and other conditions remaining unchanged. If sales reach 410,000, 20% of the excess 10,000 can be taken as an employee bonus, meaning if sales reach 410,000, 2,000 can be given as a bonus to be distributed to the store manager and employees that month!"
"Currently, each 40-square-meter clothing store has one store manager and eight full-time employees. The store manager can take two shares of the bonus, which means out of 1,000, 400 goes to the manager, and each of the remaining employees gets an average of 200 as a bonus!"
"If sales hit 420,000, exceeding the target by 20,000, then the 20% bonus would be 4,000, with the store manager receiving an additional 800 in salary. Employees share the remaining 3,200."
"If sales reach 430,000, 6,000 can be taken as an employee bonus..."
"And so on, without an upper limit."
"Employee bonuses will be set to various criteria, including the quantity of clothes sold and the length of time with Celestial Fortune."
These bonuses are not evenly distributed among all employees—the better they perform and the longer they’ve been with Celestial Fortune, the bigger the share they will receive.
"Additionally, Celestial Fortune’s seven large stores over 200 square meters have a sales target set at 2,200,000. Any sales exceeding this target can see 20% of every 50,000 above the limit allocated for bonuses!"
"Which means if sales reach 2,250,000, that’s 50,000 surplus, and 20% of that, which is 10,000, can be distributed as bonuses, similar to the smaller stores."
"Monthly sales reaching 2,300,000 can allocate 20,000 as bonuses."
"Monthly sales reaching 2,350,000 can allocate 30,000 as bonuses, without an upper limit!"
Qin Yun’s voice echoed in the office, and upon hearing his words, the store managers of Celestial Fortune Clothing froze for a moment, their faces immediately showing extremely excited expressions.
"Getting a 20% share on exceeding sales!"
"A 400,000 sales target isn’t hard; with some effort, we can totally achieve it! After that, even more bonus stages could be completed!"
"President Qin gives such a high bonus ratio."
The store managers couldn’t help but feel their hearts race!
Money is always the best motivation!
Celestial Fortune began setting up incentive measures: exceeding the sales target, and even 20% of the excess can be shared without limit!
In reality, Celestial Fortune Clothing employees earn a salary of 5,000, which includes a commission of 1,500. Their workload isn’t very challenging; as long as they don’t slack off, they can basically accomplish it and earn the full commission.
Meanwhile, the store manager earns a bit more than the employees.
The salary for a small store’s manager is 6,000.
But that’s just about it. Previously, Qin Yun estimated that under the influence of the Wealth Gathering Array, each store’s sales hovered around 400,000.
He wasn’t demanding anything; progressing steadily was enough.
"However, my goal is to develop Celestial Fortune into a big brand like Anta and Nike! Continuing like this just won’t work."
Now, Celestial Fortune is quite successful, but largely because of the Wealth Gathering Array! Human factors play a very small part!"
"Once the Wealth Gathering Array is gone, Celestial Fortune will be exposed instantly—not to mention competing with brands like Anta and Nike, it won’t even be able to compete with Cold Dew."
He didn’t care much before about incentives, commissions, or even organizing events, only starting to engage in activities upon Zhao Tianqiang’s suggestion.
These were all because he overestimated the importance of the Wealth Gathering Array. In reality, he was completely wrong!
"The Wealth Gathering Array will remain still, but talent should be the mainstay! People should lead the Wealth Gathering Array, not the other way around!"
Qin Yun was clear-headed.
"Those big brands, like Anta and Nike, developed step by step without the help of a Wealth Gathering Array!"
"Making progress steadily, overcoming numerous difficulties one by one."
"If Celestial Fortune wants to become such a big brand, I should consider how to achieve their level without relying on the Wealth Gathering Array—that’s what I should strive for!"
"The Wealth Gathering Array should simply be an aid of mine, not taking too much weight, just helping me develop faster and more stably—only then will I be truly successful!"
"According to this mindset, even if the Wealth Gathering Array disappears in the future, I won’t need to worry!"
Last night, Qin Yun thought about a lot.
Currently, Celestial Fortune appears flawless, immune to any means, but as soon as the Wealth Gathering Array disappears, it will be utterly vulnerable.
The problem is too big—he can’t control the Wealth Gathering Array at all. Maybe there are no surprises now, but who knows what might happen in the future.
Fortunately, Celestial Fortune hasn’t expanded too much yet, leaving room for quick adjustments!
And first and foremost, mobilizing the enthusiasm of clothing store employees is most crucial!
In reality, for 10,000 in sales, a portion of the clothing cost takes up a few percent, then taxes, and if you give 20% to employees, Qin Yun doesn’t earn much, but it’s totally worth it!
In this incentive model, the enthusiasm of employees and store managers will definitely be motivated, and they won’t leave for minor temptations.
Some brand clothing stores have used similar methods, and furthermore, there are various marketing strategies. However, Qin Yun didn’t really care much before.
Now, he completely abandoned such thoughts.
Looking at the crowd, Qin Yun continued, "Moreover, the clothing factory design departments will start a competitive commission system! Currently, Celestial Fortune has two clothing factories, one in Qingwu County and one in Jinling, with a total of 300 employees, including more than 50 designers! We will begin to establish evaluation mechanisms for these designers!"
"My current idea is that 60% of the evaluation mechanism should be based on the sale of designed clothing, with another 10% considering the position, 10% based on time spent with Celestial Fortune, and 10% based on..."
The clothes sold at Celestial Fortune Clothing Stores are all produced by these two factories. At the end of the month, according to computer records, it’s clear to see how many pieces of a designer’s clothing have been sold, calculating their proportional impact.
Then, considering how long they have been with Celestial Fortune, their position level, and so on, the specific level of each employee can be calculated!
"Also, for March, except for the confirmed basic salary, there will be no more red envelopes, but a total of 150,000 in bonuses will be available!"
Previously, Qin Yun gave designers a fixed salary, and based on each person’s capability, a red envelope was given, averaging one to two thousand, much like the previous directors of Celestial Fortune Clothing Stores.
Prior, he prioritized the Wealth Gathering Array, but now, he’s focusing on people, and the salary structure must change, to make these designers compete fully and design better clothes for Celestial Fortune.
"The 150,000 bonus will be distributed among the more than 50 designers based on their contributions!" Qin Yun continued.
150,000 among over 50 people means each can potentially see their salary increase by about 3,000!
Of course, this isn’t shared equally; those with the greatest contributions may receive over 10,000 or even 20,000, while those with the least contribute less than 1,000.
"Certainly, the bonus is not that easy to get. There will be monthly evaluations, and if someone ranks at the bottom consecutively for three months, they will be dismissed, with the company compensating three months’ salary."
(After researching a lot, I believe this incentive method is excellent at motivating employees, retaining talent. What do you think are some good methods? If they’re not bad, I’ll add them in.)
