Project Description

Incentive Plan Design

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.

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STANDARDIZE YOUR METRICS

ENABLE A GOAL-ORIENTED MINDSET

SET PERFORMANCE EXPECTATIONS

What Does Our Short and Long Term Incentive Plan Design Process Look Like?

1. DISCOVERY

Review compensation philosophy, competitive issues, current plans, and organizational 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

TESTIMONIAL

“Compensation Works 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.”

– Medical Director

Radiology Group

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.

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WE BELIEVE

We believe that in this remote revolution existing employees can go anywhere to work, and you can attract and hire talent from nearly anywhere, but that’s just half the battle. How can you directly and effectively influence the behavior of your top performers? Properly designed STI, LTI, and other incentive plans provide the added balance to your compensation mix to keep your team engaged and aligned with company success.