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Summary
A properly designed and communicated annual incentive plan presents a valuable tool for Human Resources professionals, one that creates a strong retention hook for high-performing employees, attracts key talent, and helps execute the company’s financial objectives.
Conversely, a poorly designed plan rewards destructive behavior, creates a net loss on a product or service, and proves so confusing that payouts are not understood or worse, considered an entitlement. Learn the fundamentals of the annual incentive design process and get a complete framework for beginning the process. You’ll find out how to:
• Identify performance measures that drive company success, and create a link between them and employee behavior
• Explain the implication of threshold, target and maximum performance measure targets
• Define employee’s target incentives
• Understand the need for financial modeling and stress testing
Speaker
Brandon Cherry is a principal and co-founder of Presidio Pay Advisors where he provides consulting advice and implementation assistance to clients with compensation support needs.
Desired Level of Experience:
• HR managers and directors who want to expand their understanding of plan design, communication, and administrative process
• Companies looking to understand the process for creating an initial framework for an incentive plan
• Businesses with outdated or inefficient annual incentive plans that will be undergoing an overhaul effective in the next fiscal year
Please note that this program is not intended for designing sales incentive plans.
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