Incentive / Bonus Plans
Some years ago, Bain Consulting conducted a survey of CEOS across the country, to discover which of more than 25 initiatives the CEOs believed delivered the best financial results. Surprisingly, the #1 selected initiative was pay-for-performance. Since then, the topic of PFP seems to have gotten hotter and hotter and is often the primary variable in awarding merit increases, annual bonuses and long-term compensation incentives. Over the years, we have found that having an effective short-term incentive plan is an organization’s most potent tool for incenting the desired organizational, team and individual performance and behavior. To date, we have helped hundreds of our clients with the design, development, implementation and communication of their management incentive plans, company-wide Goalsharing programs, stock plans, phantom equity plans, and a wide variety of long-term cash plans.
Our Team Can Help When…
- Your organization is looking for higher levels of performance from your managers and non-management employees
- You are struggling somewhat in your efforts to come up with the appropriate financial/ operational goals, measures and metrics
- Your employees don’t seem to be sufficiently engaged/ motivated by your organization’s short and or long-term incentive plans
- Incentive administration is unduly challenging to model and administer
What Our Clients Have to Say
LTC’s Gainsharing program yielded over $300,000 in “hidden cost savings- in less than 60 days!