When effectively designed and managed, incentive plans can be powerful reward vehicles.
They often represent a significant part of a competitive total cash compensation offering. And the plan measures can focus employees on top business priorities, which helps drive desired actions and results.
But an incentive plan should be regularly reviewed to ensure its design continues to make sense from a business perspective. Incentive plans can lose their impact over time if they don’t remain in alignment with business priorities and financial circumstances.
Consider seven signs your approach to incentive pay made need refreshing:
Ongoing attention to incentive plan design and administration details can help ensure your plan can continue to deliver optimal value.
Talk to us about how to review and refresh of your incentive plan. Contact Us