Factors that contribute successful variable pay plan
Posted by zonan | Posted in variable plan
1)Develop clear, understandable plan that are continually communicated.
2)Use realistic performance measures
3)Keep the plan currents and linked to organizational objectives.
4)The financial incentive provided by the company must be linked to a valued behavior
5)The incentive plan must be fair one
6)The quality or performance standard set by the company for the incentive plan must be challenging and achievable
7)The payment made must simple and understandable by the employees.
8)Identify variable pay incentives separately from base pay
2)Use realistic performance measures
3)Keep the plan currents and linked to organizational objectives.
4)The financial incentive provided by the company must be linked to a valued behavior
5)The incentive plan must be fair one
6)The quality or performance standard set by the company for the incentive plan must be challenging and achievable
7)The payment made must simple and understandable by the employees.
8)Identify variable pay incentives separately from base pay
Comments (0)
Post a Comment