Pressed forward by competitive forces, Compensation is rapidly changing. Far more emphasis is being placed on variable compensation. The use of incentive pay to motivate performance (individual, team, and company-wide) continues to grow and become more sophisticated. Many companies are moving to broad-based ownership. The design of sales, management, executive, and board of directors compensation plans are becoming more innovative. Fundamental transformations are occurring in aligning rewards with organizational change. Moreover, computer and communication technology is radically altering the compensation landscape. In this presentation we 1) explore the trends that are revolutionizing Compensation, and 2) provide insights into the ideas shaping 21st Century total reward systems.
Sales compensation plans must be tailored to today's marketing strategies and sales process. Sales roles are changing, and sales compensation must be redesigned to meet these new realities. We present a model for designing sales incentive plans that 1) work as an extension of your company's marketing strategy and 2) are aligned with the way your salespeople sell to and serve their customers. We offer a practical how-to process for creating, testing, communicating and continuously monitoring powerful sales incentive plans. We also addresses incentive for teams and support roles. This plan design process brings together goal-setting, aligning incentives with strategy and tactics, and meeting the needs of customers/clients. Our presentation provides a sure-fire approach to developing a winning incentive plan. We combine knowledge from an array of fields including sales and marketing, finance, organization, and compensation.
Organizations faced with poor operating and financial performance can find that, among other actions, they may use a full range of rewards to revitalize their business. We explore many of the opportunities available to organizations who are willing to take a hard look at their reward strategy and programs. We discuss ways to: 1) evaluate current programs, 2) attract, motivate and retain employees, and 3) evaluate strategy and program options.
This presentation takes a look at new ways in which organizations are approaching compensation philosophy, strategy and programs as a central element in developing and maintaining a competitive edge in today's hyper-competitive markets. The focus is on how strategic planning, organization design, a human resources strategy, and the total reward system can be aligned and linked at the level of decision-making and day-to-day operations.
The design of incentive plans too often becomes a numbers game. This presentation discusses what you have to do to create high-impact incentive plans that support your business goals and strategy through channeling and strengthening motivation and performance. In it we profile the essential qualities of a successful incentive plan and the process for successful plan design, and explain how to do it! We also explore the most obstinate barriers and treacherous pitfalls that confront plan designers and show practical ways to overcome them.
This presentation profiles and discusses a new approach to motivating people and creating an energized and committed human organization, using Stern's Full-Spectrum (monetary and nonmonetary) Strategy. We demonstrate how to break traditional barriers to discovering and using innovative ideas and approaches to motivating the entire organization. Our presentation includes how-to guidelines for auditing your organization's effectiveness from a people-centric perspective.
One of the hallmarks of today's reengineered organizations is a team-based structure which encourages employee participation and flexibility. We demonstrate the importance of a well-designed incentive compensation plan in creating and reinforcing team spirit, sustaining motivation, and promoting team goals. Included in this presentation is an overview of team-oriented structures, the challenges of team-building, and how to: 1) involve team members in plan design, 2) establish performance measures, 3) differentiate between pooled, sequential and synergistic teams, and 4) create an incentive reward system that is optimal for the specific needs of your own organization.
There have been dramatic changes in the role of corporate boards. Likewise, board directors are being remunerated in ways profoundly different from a decade or so ago. This presentation examines the major changes in board remuneration and the underlying implications for board member motivation, definition of role, and decision-making.
The culture of an organization is critical to its effectiveness, hard to profile, and difficult to change. In recent years, many organizations have endeavored to change their culture with varying degrees of success. One factor that is often neglected is the influence of the total reward system (compensation, non-economic rewards, career opportunities, and other elements). This presentation examines all the elements of the total reward system and explores how they can be used to shape and reinforce a desired culture. We discuss the issue of congruence between rewards and culture.