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Bangalore, China, London, Malaysia,
Mumbai, Delhi, Singapore |
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Implementing best in class performance pay and incentive
plans |
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| Performance
Based Rewards/Incentive
plans |
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To generate a higher Return-on-Investment from pay
expense and drive strategic priorities, organisations
are increasingly turning to performance-based reward
practices. These innovative reward programs can be
focused on the leadership team, major functions like
the salesforce or customer service staff, or the
broader workforce. To ensure the operational
effectiveness and 'culture fit' of such incentive and
recognition practices, PCl's consultants work closely
with the client to examine issues of both program
content and context. This rigorous analysis and
design process covers key factors such as: |
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the business rationale for performance-based
rewards and the measurable benefits expected
participation criteria, governing policies and
financial controls |
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the best mix and calibration of performance
metrics and desired behaviours |
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the degree of performance leverage to be built
into award funding levels |
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the size of potential payouts as part of the total
rewards package |
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participant communications and involvement
strategies |
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the balance of awards decision-making
by-the-numbers vs. evaluative judgments |
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enabling systems, skill development and change
management steps needed for higher performance |
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competitive benchmarks for performance standards
and incentive structure |
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PCI's
pay-for-performance guidance and deliverables are
tailored to the client's requirements, issues and
objectives. They include evaluation, design and
implementation of the following types of reward and
recognition practices |
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Management Incentive Plans . Competency-Based Pay |
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Sales force Incentives |
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Merit-Based Pay |
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Group and Individual Recognition Awards |
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Project Team Incentives |
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Organisation-wide Bonus Programmes |
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