Incentive Plan Design.

Incentive Plan Design Consulting Services

Our incentive plan design and performance management consulting services provide clients with bespoke and fit for purpose incentive plans to drive performance and engage talent across the organisation. We partner closely with our clients to ensure that our plans deliver a real return on investment to the business in terms of a more engaged workforce and improved focus and productivity. We also provide implementation support and advisory to ensure the plan is both well received by all stakeholders, and fully implemented.

In particular, our expertise and experience are based on advising our clients on the following:

Performance scorecards and KPIs
Annual bonus plan design
Sales incentive plan (SIP) design
Productivity and variable pay plan design
Alignment with Performance management system and process
Long-term incentive plan design (LTIP)
TSR Peer Group review and optimisation

Incentive Plan Health Check

Incentive or bonus plans come in a huge variety of different shapes and sizes. The majority are annual bonus plans, some are long-term incentive plans and some measure and reward performance over periods of time shorter than a year. Regardless of the specific design parameters or amount of complexity involved, a good incentive plan design should confidently tick all of these 8 boxes:

Alignment

Does your plan align all participants with, and focus them on, the organisation’s desired goals and objectives?
Does your plan drive the right team and individual behaviours?

Motivation

3. Are the award levels market-related and material enough to excite and engage the minds of your people?

4. Can people clearly see and understand how their job impacts on the various performance measures and targets?

Retention

5. Is your plan a valuable part of the total reward offering and employee value proposition?

6. Does the plan credibly enhance your organisation’s ability to both attract and retain talent?

Cost

7. Does your plan achieve the objectives of alignment, motivation and retention at a competitive cost to the business?

Governance

8. Is you plan compliant with the corporate governance provisions and any other requirements that affect your industry or organisation?

If you answered YES to all of these 8 questions you probably have an incentive structure that works well for your business. If not, or of you are unsure and would like to discuss it further please do GET IN TOUCH.

The 5 factors for successful incentive plan design and implementation

Our Principal Paul Hunter's thought piece on Incentive Plan Design published in CIPD's

People Management magazine can be found here:

Our advisory works with organisations across the business spectrum, from large listed companies to smaller private companies, and from both the public and private sectors. We work across the UK and EMEA.