VisionLink Blog
Will Your Bonus Plan Fail Again Next Year?
Okay, maybe that’s not the most optimistic headline you’ll read today. However, it does reflect a statistical probability.
Read MoreOur process for pay design has been honed over many years of working with business leaders on compensation issues in virtually every industry. Our experience, planning systems and technology combine to provide a rewards design process and experience that is efficient and focused. The result is we deliver a high-value compensation plan at a modest price.
Our engagements typically follow the four stages shown below.
Step one is to help you envision what you want to build. This begins with the development of a pay philosophy statement that defines how and with whom you want to share value. This stage concludes with a blueprint of the plans you want to create and the priorities you want to set for their creation. In between we discuss options and guide you towards the rewards solutions most compatible with your philosophy.
With a blueprint in hand, we are ready to build your plans. This starts with the creation of a financial model that forecasts future company value at three levels of performance. We then evaluate each plan within that framework to test its P&L, cash flow, tax and shareholder value implications. Afterward, we help you examine and make decisions about all of the variables that should be decided and specified in the plan. Finally, we help you document and introduce it to plan participants.
For a pay offering to have impact, it must be effectively communicated. This should not be limited to simply introducing the plan to participating employees. A plan must be continuously promoted and celebrated. We help you map out a rewards reinforcement strategy that will ensure your value proposition is understood and appreciated—and that it enhances your employer brand.
A pay strategy has a number of moving parts that have to be monitored and managed. Often, there is a need for statutory oversight, financial reporting and documentation as well as basic plan administration. Without proper attention, these issues can sink a company’s compensation plan. VisionLink has superior resources to manage all these issues for you, so your time can be spent managing your business.
James Keng, Chairman
Jimway, Inc.
Okay, maybe that’s not the most optimistic headline you’ll read today. However, it does reflect a statistical probability.
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