Incentive Pay Program Design
Customized Incentive Pay Programs To Attract, Motive and Retain
As an organization’s compensation programs are shaped and developed, they must be reflective of company’s mission and reinforce the desired cultural direction.
Today’s better managed businesses pursue their mission through the achievement of their goals and objectives. An effective compensation strategy acts as an enabler; it allows for a linkage between the achievement of objectives, efforts and rewards.
Examples of how variable pay program can be valuable contributors within your overall reward program include:
- Reward efforts to achieve strategic and organizational goals such as business growth, financial measures.
- Promote performance discussion on key results and the contributing behaviour of teamwork in achieving collective success.
- Recognize organizational and individual success.
- Provide for competitive cash compensation based on achievement.