Some of EMEND’s pay-for performance best practices include:

• Ensuring line of sight to business objectives
• Tying rewards closely with goal achievements
• Ensuring challenging and specific goals
• A process where employees receive regular performance feedback
• Self assessments for a credible process
• Training and resources to equip the users
• Consistency in application to ensure perceived fairness and equity
• Payouts which match expectations
• Appropriate timing of payouts is important

There are various pay-for-performance plans with different forms of compensation such as:

• Base / merit pay programs
• Lump sum bonuses
• Individual spot awards
• Individual incentive plans
• Group incentive plans
• Gain sharing
• Profit sharing
• Project milestone, completion, maintenance bonuses

EMEND works with your organization to determine:

• plan funding and eligibility
• type of plan (organization, tiered, group, individual)
• performance variables and measures
• pay formula: size of award and pay mix ratio
• historical pay, measures and performance patterns
• incentive award determination-scales factor/ weights
• bonus levels for threshold, target and maximum payout (ceilings and caps)
• pay mix (base vs incentive)

EMEND can help your organization determine it’s readiness by assessing the level of:

• Management Commitment to change
• Employee Involvement
• Information sharing practices
• Employee trust
• Extent of teamwork
• Employment stability
• Receptivity to change
• The Business situation