COURSE DESCRIPTION: Does your company’s incentive compensation program actually boost performance? Are you sure?
Fact is, experts find that many commonly used plans DO NOT deliver the results intended. Instead of driving performance, they lead to a sense of employee entitlement and complacency that can crush the bottom line.
That leads to the obvious question: How can CFO’s and finance executives be sure that their incentive compensation plans generate the results they actually want … without breaking the bank?
The bad news is that most bonus and incentive programs suffer from fundamental problems and missed opportunities. The good news is that these mistakes can easily be corrected.
In this audio conference, performance management and incentive compensation expert Steve Player explains how to improve performance and save money. Steve’s presentation highlights the common problems in most incentive plans; shows how organizations have overcome these problems; and provides case examples to illustrate his principles in action.
Participants will learn how to:
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Avoid the #1 mistake in designing incentive plans
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See how incentive plans are typically constructed and understand the hidden costs (in dollars and performance) that they often incur
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Identify realistic performance measures and specify outcome-based results where the return to the organization justifies the reward to the individual
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Overcome the most common objections to implementing this new kind of plan
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Build reward programs that do not damage relationships or unintentionally reward harmful behaviors
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Manage employee expectations and keep bonuses and incentives tied to realistic goals, even under uncertain market conditions
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Maintain the right incentives for both short-term gain and long-term growth
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Learn how best-in-class organizations have implemented these leading-edge approaches
ABOUT THE SPEAKER: Steve Player, managing director of The Player Group and program director of BBRT North America, is one of the nation’s most knowledgeable professionals in continuous planning and adaptive controls. He has over 20 years experience in implementing performance management, strategic planning and process improvements. Steve is the founder of the Activity-Based Management Advanced Implementation Group (ABM AIG) and is the co-author/editor of four books on Activity-Based Management. He is also a columnist for Business Finance Magazine focusing on CFO interviews with some of the nation’s most innovative executive leaders. Previously, Steve was the managing partner of Arthur Andersen's Advanced Cost Management Team.
MONEY-BACK GUARANTEE: We’re so confident you’ll get what you want out of this conference that we’ll refund your full fee if you’re not satisfied. It’s risk-free.
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