Bonus Schemes
As we work across all market sectors, our work on bonus schemes covers a very wide area, with examples of what we do including:
- Management and Sales Incentive Plans that define the rules of each scheme and the rewards that they will produce
- Long Term Incentive Plans that seek transformational change, typically aimed at the most senior levels of management
- Individual, team and organisational wide bonus schemes that are driven either by performance/achievement or the acquisition/display of competence (typically both technical and behavioural)
- Recognition schemes that show, in a small way, that a special effort has been noticed and appreciated
- Attendance schemes that reduce absence rates
The use of non-consolidation is a key part of such schemes and gives
the employer much more scope to get full value from
such ‘at risk’ payments – as
they are generally consolidated to the organisation, but not the individual.
This means that they need to be re-earned, which tends to keep performance
up, but without any extra cost (as they were included in last year’s
budget).
