Short-term “pay for performance” Incentive Compensation Plans represent an organization’s most potent vehicle for driving performance & behavior across all organizational levels. Long-term incentive compensation plans help companies to attract, retain & build ownership among their key strategic leaders, while focusing them on driving the company’s long-term performance, growth & value. Our pay-for-performance incentive compensation planning services include:
- Development of Company-Wide Goalsharing Incentive Plans
- Facilitation of 1-Page Business Plans
- Development of Balanced Scorecard Goals & Drivers
- Determination of Plan Eligibility
- Selection of Organizational Goals
- Development of Participant Incentive Payout Targets
- Establishment of Plan Metrics & Relative Weightings
- Identification of Plan Provisions
- Development of Plan Documentation & Associated Modeling
- Training on Selecting and Articulating Performance Goals
- Incorporation of Appropriate Communications
- Development of Long-Term Incentive Plans
- Similar Services As Above, for:
- Cash-Based Long-Term Plans
- Phantom Stock Plans
- Net Proceeds (Change-of-Control) Plans
- Performance Share Plans
- Restricted Stock Plans
- Stock Option Plans
- Similar Services As Above, for:
Challenge: Loss of a major customer threatened the business; budgets cut to the bone; quick fix needed to stem pending layoffs.
Solution: Created 60-day Gainsharing Program to leverage recent business training to uncover any undiscovered cost savings.
Results: Over $300,000 in “hidden” cost savings identified within 60 days; portion shared with employees; teamwork/ sense of pride improved immediately.
"A well-structured incentive program can boost productivity and instill a sense of shared responsibility among employees; a haphazardly designed program, on the other hand, can make a bad problem even worse."
– Michael Alter
"LTC’s Gainsharing program yielded over $300,000 in “hidden” cost savings---in less than 60 days."
Harvey Berg
Prior CEO
OAN Services