Incentive-based compensation plans are supposed to motivate employees to perform well. Unfortunately, what businesses spend on employee incentives may not result in the desired performance improvements. In fact, poorly designed and executed incentive-based compensation plans may lead to adverse employee feedback such as:
- Why was my bonus so low?
- I worked hard all year, so why didn’t company profits increase?
Successful incentive-based plans have to drive specific behaviors that can help to achieve company goals and objectives. The plans also have to consider the potential for adverse consequences of certain behaviors. For instance, if a business plans to improve sales to existing customers, the incentive-based plan should compensate employees for good customer service. However, not all business is good business. So the plan also has to consider the profitability of the new sales. Incentive-based plans also need to consider behaviors that improve long-term company success. To achieve long-term success, employees have to be incentivized to focus on serving customers the right way consistently over time. This important webinar will provide you with best practices for evaluating the structure of incentive-based compensation plans. The focus of this material will be on how to structure plans so that long term financial goals can be balanced with employee behaviors and morale.
Please join Gary Deutsch, CPA for this timely webinar which addresses these important compensation management issues.
WHAT YOU'LL LEARN
Just a sampling of what this webinar will cover:
- Evaluate incentive-based plan best practices
- Develop incentive-based plan strategies
- Structure plans to drive desired behaviors
- Develop performance measures that go beyond profitability
- Reevaluate the employee performance evaluation process
- Improve communications about incentive-based plans
- Avoid the negative or adverse effects of incentive-based compensation plans
- AND MUCH MORE!
YOUR CONFERENCE LEADER
Your conference leader for "Managing Incentive-based Compensation Plans: Methods for Improving Employee Performance” is Gary Deutsch. Mr. Deutsch is, president, BRT Publications LLC. Mr. Deutsch is a licensed CPA in Maryland and has a B.A. in accounting and an MBA in finance from Loyola University Maryland. He has also achieved the Certified Management Accountant, Certified Internal Auditor and Certified Bank Auditor designations. Mr. Deutsch is the founder and president of BRT Publications LLC. Mr. Deutsch has trained thousands of professionals in all aspects of risk management and has written numerous books in the U.S. and Europe on topics such as credit risk, internal audit and compliance with Generally Accepted Accounting Principles. Mr. Deutsch has extensive risk management and internal audit experience through his association with businesses of all sizes as well as through his role leading a KPMG consulting practice in the Mid-Atlantic region.
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CERTIFICATES OF PARTICIPATION
HRWebAdvisor certificates of participation are available to everyone completing this webinar.