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Incentive Compensation Plan Design
…plans for sales, service, referrals, relationships, and quality
Did you know that over half of the employees of most businesses don’t know how
their firms make money? That between 40% and 60% of most incentive budgets are
wasted? That most incentive plans are constrained by automation and source
data deficiencies? And, that there are twenty essential rules of designing optimally
successful employee performance improvement and incentive plans?
In serving the needs of its incentive automation clients over the past 25+ years,
Strategix has implemented over two thousand incentive and recognition
plans designed by outside consultants. This unrivaled experience has shown
clearly which programs work, and which don’t. And, it has provided the
foundation for our design and development of best-of-breed employee performance
incentive programs that work, both in the short- and long-run.
In parallel to the capabilities of its StrategixEPM Performance Manager™ SPM/ICM software,
Strategix can assist you in the design and implementation of incentive and recognition plans for:
- Sales activities, results, volumes, revenues, mix, distributions
- Referral activities and results, intra- and inter-business unit
- Customer service, satisfaction, and loyalty
- Portfolio/relationship penetration, profitability, and retention
- Service resolution activities and results, error rates, time-to-resolution
- Quality and accuracy
- Productivity and efficiency; project-to-completion
- Business unit profitability; Management-By-Objectives (MBO)
- Annual performance evaluation
- By employee, team, office, function, business unit, market/territory enterprise
- Individual and team
- Front-office and back-office
- Executive and staff
- Month, Quarter, Year-to-date, Annual
- % Revenue, % Sales, % Goal, % Base
Our incentive plans are optimally effective because they address the essential elements of what the workforce needs to be achieving, and can be simply and comprehensively automated so reports and results are timely and accurate.
For information on Strategix Incentive Compensation Plan Design services, contact us.
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