Structuring for success: Employee bonus plans
Abstract: Many companies today are creating bonus and incentive compensation plans to reward hard-working employees for jobs well done. However, creating an employee bonus plan without carefully thinking through what it should accomplish can end up doing more harm than good. The result is wasted time, money and opportunity — on the part of the company and the employees. This article discusses how to set specific corporate goals to inspire employees and offers tips to keep in mind when structuring and implementing the plan.