Our team offers professional incentive plan design that aligns with your business goals and achieve the right balance between fixed and variable compensation as well as short-term versus long-term incentives.
We help you navigate all planning, decision making, and documentation and then support employee communication and administrative needs. Our extensive capabilities allow us to design, implement, and manage short- and long-term plans such as annual bonus plans, management incentives, profit sharing, retention bonus, spot bonus plans, team-based pay, and more.
What Does Our Short and Long Term Incentive Plan Design Process Look Like?
1. DISCOVERY
Review compensation philosophy, competitive issues, current plans, and organization objectives.
2. KICK-OFF
Conduct a kick-off meeting with the design team to discuss philosophy, project objectives, and timeline.
3. DESIGN
Determine key plan elements and weights for each incentive element.
4. PARTICIPATION
Develop position level participation guidelines.
5. MODELING
Develop analysis to model likely payouts under various scenarios.
6. PARTNERSHIP
Meet with finance and review modeling and sensitivity analysis.
7. REVIEW
Review cost scenarios and finalize plan design.
8. DOCUMENTATION
Develop plan administration document and participant communication.
9. WRAP-UP
Prepare materials and present to management.
Compensation Team can help a company leader imagine and think through a pay plan that ties the executive incentives to the success of the business. They are very patient and gracious, and have excellent people skills.
100% …of our past clients would recommend our services to a friend.
98% …of our clients rate the quality of our work as above average.
97% …of our clients say we met or exceeded their expectations.
94% …of our clients were very satisfied with our responsiveness during the project.
92% …of our clients were very satisfied with the speed of our delivery.
86% …of our clients say that we exceeded their expectations.