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

Capitalize on Your People

  • Attract and retain the best employees
  • Increase productivity and raise morale
  • Become a high-performance organization

Contact EMEND Today

EMEND Management Consulting Inc.

Brookfield Place
TD Canada Trust Tower
161 Bay Street, 27th Floor
P.O. Box 508
Toronto, ON M5X 1C9

PHONE: 416.657.0599
FAX: 416.657.9139