Incentive plans change behavior, but do they really incentivize the performance we want? This seminar will examine incentive plans to see which ones work and which do not. We will also examine difficult issues, such as what happens when we have upper and lower limits on incentives. How do we recognize performance in divisions facing different challenges? Sadly, too many incentive plans do not achieve the intended goals. Learn from the many mistakes made by others so your incentive plans will work as planned!
Learning Objectives
After attending this presentation, you will be able to...
- Design an incentive compensation plan that fits the needs of the organization.
Major Topics
The major topics that will be covered in this course include:
- What are incentive plans really trying to achieve?
- Types of incentive plans commonly found.
- What are the advantages and disadvantages of each?
- What makes a plan work or fail.
- Compensation methods – stock, options, cash, etc.
- Specific issues in design – the unequal challenge, upper and lower limits, and tying to objectives.
- How to test a plan to ensure that it will work.
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