Are your bonus and incentive schemes aligned to your business goals?
Although bonuses for executives and public sector employees’ frequently hit the media headlines, the popularity of bonus and incentive schemes continues. According to the 2010 CIPD Reward Management survey, over 70% of employers operate them across industry sectors. This rises to over 80% in the private sector & manufacturing with the objective of motivating employees and enhancing the pay-performance link.
As organisations manage tight budgets, ensuring that your bonus and incentive schemes are aligned to your organisational goals is critical. Whether you choose just one or a combination of incentives including sales incentives or bonuses, we can offer expertise across the range of available options.
A tailored approach
Reward First ® People Consulting works with clients to develop the right bonus or incentive framework. From initial brief, through to design, implementation and evaluation, we ensure that your bonus scheme or incentive plan is fully capable of delivering your organisational goals by:
- Designing and implementing bonus schemes or incentive plans that may vary by employee groups.
- Examples include incentives; bonuses; sales incentive; sales commission; gain sharing etc.
- Reviewing existing incentives and bonus schemes and recommending improvements where relevant.