CompensationLong Term IncentivesSimulated EquityAltenative Approaches Annual IncentivesAltenative Approaches Team Based Rewards

EMERGING ALTERNATIVES IN TEAM REWARD PLAN DESIGN 

  • Rewards should have a positive impact on teamwork.

  • Individual performance should be recognized and rewarded as it pertains to TEAM SUCCESS.

  • Internal competitive struggles should be focused on serving and acquiring customers.

  • Employees should feel that they have a stake in the business.

  • Employees should be empowered to be a part of the solution.

  APPROACHES USED TO COMPENSATE EMPLOYEES THAT ARE WORKING.

 
 Rewards team accomplishment of predetermined goals.
Contingent, Pay-For-PerformanceIncorporates team competencies and behaviors.
 Stresses “What” and “How” in results goal setting.
Group Skill Based PayRecognizes aggregate team skills attainment.
 Rewards team / members based on sustained skill levels.

 

Back