Bonus and incentive schemes
We have been designing bonus and incentive schemes for many years for all manner of organisations in multiple sectors, often with their own unique culture and particular objectives. We will take the time to truly understand the goals of your organisation, we will challenge your thinking and question current practice and only then proceed to designing a bespoke bonus scheme that provides the best incentive, bonus or profit-sharing plan for your organisation.
The aim is to craft a bonus or incentive plan that is easy to understand, straightforward to administer and genuinely effective in driving behaviour and results. It might be focused on the individual, the team, the entire organisation or a combination of all three, but the greatest challenge is more often in defining what the bonus plan needs to achieve.
The objective of any bonus or sales incentive plan is to create an environment where employees want to contribute directly to the company’s success by demonstrating the desired behaviour and achieving the targets, objectives and results.
The key is to make sure there is a clear link between employees' understanding of the scheme and how they can influence their reward outcome.
We place particular emphasis on data, financial modelling and implementation. Affordability is a critical element of any scheme and we will work with you to model various scenarios to test affordability and control mechanisms.
We offer support through design to implementation. We can also assist with training and communication plans, including managers, employees and trade unions.