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 MoreYou need a value proposition compelling enough to draw top talent to your business. You need a compensation plan that encourages both short and long-term performance. You need to find a way to effectively share value with those who help create it. But your strength is building a company, not building pay strategies. And so you are perpetually dissatisfied with the results your compensation plan is delivering.
This is the problem VisionLink solves. We design performance-centered rewards plans that drive the outcomes you seek so you can spend your time executing a business growth strategy that will create the future company you have envisioned.
Since 1996, VisionLink has been helping business leaders develop effective pay strategies for their companies. We focus on helping you share value with your organization’s value creators in a way that drives sustained performance. We make sure you are able to attract and retain true growth partners for your business and produce a real return on your compensation investment.
We help you envision the pay philosophy and strategy you will need to drive the performance and outcomes you want.
We help you design the specific pay plans you will need to fulfill your rewards philosophy and strategy.
We ensure your employees will sustain their focus on the performance you expect by helping you reinforce how that performance will be rewarded.
VisionLink’s aim is to resolve, fix or improve the current experience you are having with your pay strategy. Your compensation offering might not be securing the kind of talent you want because it simply is not compelling enough. Or perhaps your incentive plans are out balance or your salary structure not up to date—or both. It could be that your employees are not having a good experience with your value proposition and it is hurting your employer brand.
In each case, you need help developing an enduring solution to the problem or priority you face. With that in mind, we tailor our engagements to the kind of compensation experience you are having.
If your pay strategy is incomplete and needs additional pieces to become more compelling, then you fall in this experience category. This means our work will likely focus on helping you construct the right incentive plans—ones that drive the results you’re looking for. Perhaps right now you pay an annual bonus but have nothing that rewards long-term performance. Or maybe your annual incentive plan is ineffective and needs revision. Hey, you may have no value-sharing plan at all!
If your compensation plan has missing pieces, our goal is to ensure your rewards offering becomes complete, compelling and competitive.
Learn more about how VisionLink helps with your Strategy Experience.
Many organizations have built their pay offering one piece at a time over an extended period. When this happens, sooner or later leadership realizes its ad hoc approach has created what amounts to compensation “chaos.” There is no rewards philosophy guiding decision-making and no systems or processes for envisioning, creating and sustaining a comprehensive and cohesive pay strategy. We consider businesses in this condition to be having a negative pay structure experience. Many in this camp engage us to help them build a Total Compensation Structure and process, then to design or repair the specific rewards plans they need.
When compensation disorder is the issue, our goal is to ensure you end up with the right systems, processes and measures to build and maintain a highly effective pay offering.
Learn more about how VisionLink helps with your Structure Experience.
Businesses sometimes find they are not getting “credit” for the generous value proposition they offer. In other words, employees are not fully appreciating the financial opportunity their employer is providing. As a result, there is little "line of sight" created and the employer brand is not benefiting from the superior experience employees have been offered. This prevents a high-performance culture from fully taking root.
When you have a disconnect that is impairing your employer brand, our goal is to ensure your employees gain clarity about the connection between the vision of the company, its business model and strategy, their role and what’s expected of them, and how they are rewarded for fulfilling those expectations.
Learn more about how VisionLink helps with your Brand Experience.The Strategy, Structure and Brand Experiences just described represent categories of pay-related problems and planning most business leaders face. If you would like to learn more about what it will take to resolve these issues, and how VisionLink can help, check out our use cases below.
For a description of VisionLink's specific design services, click here.
Your compensation plan is missing some key elements resulting in a value proposition that is not compelling. You want a pay offering that both attracts top talent and motivates your present workforce to perform at a high level. VisionLink helps you determine what pay components you will need and then provides a comprehensive design process to produce them.
Your compensation plan is ad hoc, lacks continuity and drives no real return on your rewards investment. You want an effective structure and process for envisioning, creating and sustaining a high-value pay strategy that more than pays for itself. VisionLink helps you build a Total Compensation Structure that enables you create and manage a comprehensive rewards plan that is agile, stable, enduring and self-financing.
There is little line of sight in your organization, so employees have a diluted impression of your employer brand. You want to generate greater enthusiasm for your value proposition and effectively communicate the Total Rewards experience you offer. VisionLink helps you create a strategy to promote and reinforce the financial partnership you have created for your people.
John Bukowski, President
North Wind Group
Okay, maybe that’s not the most optimistic headline you’ll read today. However, it does reflect a statistical probability.
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