To get the best out of your talented workforce, you need a sensitive balance between all elements of pay strategies – for every group of employees, the balance has to be “just right”.
If you are considering introducing incentive pay for the first time, it can be a huge culture shock: we can help you get it right first time.
Incentives are at the heart of what we do. Why? Done well, they will galvanise the workforce and provide a fair, transparent return on investment which is seen as been worthwhile by your people.
What does a good incentive plan look like? It creates winners but does not ignore losers; it continues to incentivise and encourage all participants, right up to the plan end date: it does not let your people simply drop out for lack of support.
Whether you need to renew Executive Long and Short term Incentives, incentivise some job families for the very first time, or design an ambitious Salesforce Incentive Programme, we can guide you.
Remember, as well as having a dramatic effect on performance when done well, incentive programmes carry huge risks if badly structured. We will bring our considerable experience to help ensure that your new or revised incentive plan does what is intended, and represents value to both the shareholder and to employees
About the Reward Practice
We are based in 5 international locations – US, UK, Switzerland, Ireland and Luxembourg.
Effective Reward Strategies have many components: only one is consistently present to achieve success – a bespoke approach which results from listening to your needs, your competitive situation and your workforce challenges. Off-the-shelf solutions are quick and cheap. Ours are laser-sharp and competitively priced.“There is no room for error where Total Rewards is concerned. We will ensure that you get it right first time, every time”.
Alan Gibbons, The Reward Practice