The Art and Science of Incentive Plan Design

DESCRIPTION:

Annual incentives. Bonus programs. They sound great in theory but in practice they are often the subject of criticism and cynicism by employees, tweaking by compensation professionals and hand-wringing by senior executives. This workshop explores a process for designing and implementing incentive programs that drive real value for all—a process that starts with strategy alignment, moves seamlessly to program design and ends in successful implementation.

The presentation will refer to case studies illustrating key principles of plan design.

LEARNING OBJECTIVES:

• Use a diagnostic tool to analyze the degree to which your organization's annual incentive plan is creating value
• Study a well-illustrated design process
• Take home a detailed set of guidelines for implementing and measuring a successful incentive plan program
  

ABOUT THE SPEAKER: David Neilly is the founder and managing partner of PeopleCOMP, a full-service human resources consulting firm specializing in employee compensation and performance management.  Since 1985 he has worked with world class organizations such as Bell-Northern Research, Glaxo Smithkline and Towers Perrin, creating and implementing results-based HR strategies. Neilly’s passion is helping clients support a high performance culture by linking pay to performance and performance to strategy.  He has designed base-pay structures, job evaluation systems, annual bonus programs, as well as the linkage between cash compensation and performance.  He also has extensive experience conducting HR effectiveness surveys and advising HR leaders on improvement initiatives. He holds a BESc in civil engineering and an MBA from the Richard Ivey School of Business at the University of Western Ontario.