Performance Based Compensation
A Performance Based Compensation Plan can be a solution for rewarding and retaining your most valued employees
Performance Based Compensation
Does your current compensation plan for key employees provide the right incentives to drive the results you need? Ensuring that individual goals align with business objectives is crucial for success. A well-structured compensation plan should include performance-based incentives that reward your most valuable employees. Attracting, motivating, and retaining top talent requires more than just a salary and a generic bonus—it demands a competitive, results-driven approach. Advantages of the plan include:
Does your current compensation plan for key employees provide the right incentives to drive the results you need? Ensuring that individual goals align with business objectives is crucial for success. A well-structured compensation plan should include performance-based incentives that reward your most valuable employees. Attracting, motivating, and retaining top talent requires more than just a salary and a generic bonus—it demands a competitive, results-driven approach.
01.
Performance Rating: You decide who participates
Performance Rating:
You decide who participates
02
Tailored Benefits: You can tailor it to the needs of each employee
Tailored Benefits:
You can tailor it to the needs of each employee
03
Adjustable Benefits: You can adjust the benefit to meet your future needs
Adjustable Benefits:
You can adjust the benefit to meet your future needs
04
Employee Ratings: Creating your own employee rating system to measure results
Employee Ratings:
Creating employee rating systems to measure results
05
Performance Standards: You can create performance standards for each employee
Performance Standards:
You can create performance standards for each employee
06
Clarity on Expectations: It helps all employees know exactly where they stand and what is expected
Clarity on Expectations:
Helps employees know what is expected of them
07
Protection Clause: You can protect your company in the event that a key executive or employee terminates
Protection Clause:
Protect your company in the event that a key executive or employee terminates
"
Consider a Performance-Based Compensation Plan to reward key employees and drive goal-oriented behavior "
Dennis Harrelson
Chairman & CEO, OMNI
