Working guide: Getting Performance Bonus Schemes to Work

~~USD $25.00~~ USD $9.90

Performance bonus schemes can be seen as an annual entitlement, be very costly, create endless arguments and not lead to notable improved performance. This working guide explores the foundation stones senior management must be aware of if they are involved in designing or fixing a bonus scheme.

The working guide contains 10 pages designed to help readers to implement bonus schemes that can work. The working guide comes with some electronic templates and checklists to assist in a swift implementation. I have spent around US$20,000 researching, writing and testing these working guides. I guarantee, if you purchase, read, and act you will save many times the cost of this guide. The research was made on my journey to writing The Leading-Edge Manager’s Guide to Success.

This working guide gives you the answers to the following questions:

How to incentivise your staff with a bonus scheme?
How to structure an employee bonus scheme that will work?
How can bonus schemes be used as an employee benefit?
What are the advantages of bonus schemes?
What are the different types of employee bonus schemes?

Contents

Background

Bonus Scheme Foundation Stones

Avoid Tying to a Future Target

Exclude Super Profits

Free from Unearned Adjustments

Apply the Full Cost of Capital

At-Risk Portion of Salary Separate from the Scheme

Avoid Any Linkage to the Share Price

Make Bonuses Team-Based Rather Than Individual Based

Avoid the Annual Entitlement

Linked to a Balanced Performance

Exclude Unrealized Gains

Test Scheme to Minimize Manipulation

Avoid Links KPIs

This working guide will help you answer queries and guide you to a best practice solution in this area. These working guides are sent as a PDF copy, normally within 48 hours of payment.