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Topic: incentive compensation plans
Messages (2) Visitors (383)
Elizabeth Baldauf
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incentive compensation plans
02-15-2007 / 6:45 pm #1
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Incentive Compensation Plans
I am researching incentive compensation plans to reward employees based on performance toward stated goals.
Specifically, we would like to get a feel for the following:
§ On what criteria do the incentives depend?
(i.e. revenue growth; increased collections; decreased operating costs; performance evaluations, etc.)
§ How are the criteria measured?
§ What are the incentives?
§ What staff/positions are eligible?
§ How are the incentives calculated?
(i.e. percent of base salary; percent of increase, etc.)
§ At what point are incentives awarded?
§ Any words to the wise?
Do you have an incentive plan that you would be willing to share?
Many thanks in advance for whatever assistance you can provide.
Beth Baldauf
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Debora M
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Re: incentive compensation plans
09-23-2020 / 3:16 am #2
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Incentive pay calculation
The math is the base pay for all hours worked, plus any non-discretionary incentive pay, divided by the number of hours worked. The prior ASTHE was $15. Now it has shifted up by forty-four cents. Total Gross Pay = $17,100 + $500 + $772 = $18,372.
Types of incentive pay
The six common types of incentive plan are cash bonuses, profit-share, shares of stock, retention bonuses, training and non-financial recognition.
Types of incentives
there are three basic flavors of incentive: economic, social, and moral. Very often a single incentive scheme will include all three varieties.
Types of incentive plans
Stock Options. A stock option is an incentive offered to employees that want to invest their money into the company stock by purchasing stock with pre-tax money.
Profit Sharing.
Performance Units.
Bonus Pay.
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