A review of pay policies and practices to alert you to the need for action.
BONUS/INCENTIVE PLAN DESIGN
Bonuses that reward specific performance pay the most returns to the company, and avoid becoming expected extras.
It must support the kinds of sales you really need to meet your business objectives. It needs to provide incentive and reward for the kind of selling and customer support your product or service requires.
MERIT RAISE GUIDELINES
Make the most of the merit budget by proper application of the funds. Correctly distributed, raises maintain competitiveness, ensure pay for performance, and avoid over or underpaying employees.
Set ranges that reflect your desired competitive position in the market, and are wide enough to recognize the variations in performance that are realistic.
Determine market pay and practices. We can select target participants, design, conduct, analyze and interpret results, and illustrate the data in an easy to understand report. In addition, we can help you find commercial surveys that are right for your business as well as interpret the results.
Prepare descriptions from interviews or questionnaires, or review and edit drafts from your staff, identifying essential elements of the job.
Assist your management to quickly reach the appropriate placement of each job relative to the others
Develop criteria and materials for performance evaluation, with a focus on coaching better performance.
Clear explanation of compensation plans, and their administrative requirements.
Speaking to management and employees on pay related issues, and instructions on the workings of compensation plans. We also like to address business groups and professional associations.
P O Box 571301
Dallas, TX 75357-1301
©2006 Fulminata Associates, All Rights Reserved