3 Reasons Your Incentive Plan Could Fail
A Webinar for C-Suite Executives Seeking Higher Employee Performance
How to Avoid the Most Common Bonus Plan Mistakes
Most business leaders are dissatisfied with the bonus plan their company offers. Why is that?
The reason they give is that their incentive plan just doesn’t “work.” But the core problem is they start with the wrong expectation. They want their plan to change employee behavior. Therefore, they build their bonus offering on a flawed premise. This becomes a costly issue because companies make huge investments in the performance awards they pay out. Having them not “work” is simply not acceptable. There is a better way—and we would like to teach it to you.
In this broadcast, you will learn:
- Why your bonus plan should not reward behavior.
- The premise upon which all incentive plans should be built.
- How too many metrics can ruin the effectiveness of your bonus plan.
- The two measures upon which your bonus pool should be built.
- How to “weight” company, department and individual performance in your incentive potential.
- How to measure the success of your bonus plan.
- How a new online tool can help you create, communicate, manage and sustain your bonus plan—simply and reliably.
Tom is the President of The VisionLink Advisory Group. He has advised companies for over 30 years regarding executive compensation and benefit issues. Tom is also is the creative director and visionary for BonusRight.com, a cutting edge online compensation tool.