Incentive Pay
Tandehill creates focus and energy around business achievements by rewarding employees for their role in the success.
What Tandehill Can Do
- Design business unit, work group or team incentives
- Develop non-equity executive incentives
- Connect employee efforts to profit sharing payouts
- Create individual incentive plans
- Audit return on investment in incentives
- Create line of sight to incentive plan metrics
The Tandehill Difference
Tandehill Can Help If...
- Incentive pay has become an entitlement, and nobody is working any harder or smarter because of their participation in the incentive plan.
- The organization has a profit-sharing plan, but no one understands what they can do to impact profitability.
- You are trying to get people to work together as a team, but the current incentive plan drives a ‘silo mentality’.
- Executive pay is all about keeping score and delivering compensation, rather than focusing and motivating executives to perform at a higher level.
- Base pay increases have become too expensive and you need to start rewarding the achievement of annual goals with variable pay, not salary increases.
- You have difficulty determining which performance measures to include in the incentive plan.
Articles
Choose Wisely – Synygy Magazine
How the US Mint Has Profited from Gainsharing – Pay for Performance Report
Incentive Pay: Short-term Change Agent or Long-term Success? – WorldatWork
Why Did One CVS Incentive Plan Soar While Another Sank? – Pay for Performance Report
New Rules: Paying for Performance Part 1 – WorldatWork
Other Services
Compensation Strategy >
Ensure pay programs affordably drive the behaviors and skills that support the success of the business.
Base Pay Management >
Connect base pay opportunities to the skills, knowledge, and accountability that the organization requires
Performance Management >
Provide structure and guidance around what employees need to accomplish and how to accomplish it
Training and Communication >
Translate the company's strategy and philosophy into understandable action
Job Architecture >
Provide a strategic roadmap to optimize roles, foster internal equity and propel talent development for a thriving and effective workforce.