Incentive Plan Design
Available from Longnecker & Associates
At Longnecker & Associates, we recognize how important it is for employees to perform in the most productive ways possible. Employees performing at the highest levels are challenged and motivated, and therefore help improve your business. Instead of relying on standard salary increases, employers are uncovering ways to directly align organizational goals with the personal goals of employees by shifting to a pay-for-performance culture.
Incentive plans are a powerful tool to drive performance and encourage productivity in organizations of any size, but developing effective incentive plans can be difficult. That’s why L&A offers a variety of incentive plan options to fit the people, culture, operating model and financials that make up your business.
ANNUAL INCENTIVE PLAN DESIGN
The goal of an effective annual compensation program is to align executive pay with concrete measures of company performance. To achieve this goal, the incentive plan must be designed using a rigorous process which includes the selection and weighting of relevant performance metrics.
LONG-TERM INCENTIVE PLAN DESIGN
Long-term incentives are market competitive tools intended to attract, motivate and retain current and future key employees. Our plans are designed to achieve long-term corporate goals through employee performance, while ensuring executive/shareholder alignment. Plan design recommendations often include appropriate vehicles, target amounts, vesting schedules, timing of awards, etc.