This course is designed to equip human resources professionals in developing and improving the use of variable pay to support annual business results. While management may oppose raising fixed costs such as base salary and allowances, owners and leaders of organizations generally embrace the use of variable pay which is generally self-funded when designed properly, and can significantly change employee behaviors, alignment of effort, motivation and attraction/retention of higher-performing talent.
The course covers the basic concepts in terminology surrounding variable pay including pay mix, types of incentives, team versus individual, line of sight, eligibility, performance measures and metrics, target setting and incentive plan diagnostics. The course focuses on corporate bonuses, sales compensation, profit sharing and gainsharing designs, and covers affective communication of incentives as well. Ample time is provided for open discussion including discussion of participant incentive challenges at work.