Jumping on the Incentive Bandwagon: Key Questions and Process Steps for Effective Plan Design
Repeated on Tuesday at 4:00 p.m.
The use of incentives continues to surge in popularity. A recent survey found that 81 percent of U.S. organizations (up from 68 percent just six years ago) are using variable pay – or incentives – for employees outside the sales force. Top management is increasingly calling for it as a solution to all manner of performance issues. While we know that incentives can be a powerful force for the positive, they also have the potential to be ineffective and even damaging when implemented to “fix” ill-defined problems. This session will help you:
· Understand the basics of variable pay.
· Understand the key issues to evaluate when deciding whether to implement an incentive plan.
· Determine the steps for incentive plan design and implementation
Karen Vujtech, SHRM-SCP
Lisa Carlton, SHRM-SCP
Lisa Carlton is the Director of Compensation and Benefits/HRIS/Payroll at Stormont-Vail HealthCare, an acute care health system located in Topeka, Kansas. She has over twenty-five years experience in HR management and administration for both profit and non-profit organizations. Lisa is currently a member of the SHRM HR Disciplines Special Expertise Panel and has served as SHRM State Council Director and Chapter President in the past. She is also an Adjunct Professor at Friends University and has also taught HRCI Certification preparatory classes.