Featured Service:
Compensation Program Design
- Comp plan analysis and re-design to increase performance
- Leading-edge incentive rewards program design
- Increase your ‘Return on Employee Investment’ (ROEI)
The current state of the economy is undoubtedly making even the best employees anxious. And anxiety breeds under-performance, which can exacerbate your company’s already mounting challenges. Although many companies have frozen employee salaries this year across-the-board, that doesn’t mean that you can’t reward over-achievers with other perks and pay incentives. Cash bonuses, stock grants, and highly desirable professional development opportunities are fair game and can provide the necessary catalyst for top employees while encouraging under-performers to step up their game.
You could also use the current economic situation as the perfect occasion to revamp your overall compensation structure. Does your current pay structure fully differentiate between your performers and laggards? Is your current pay plan designed to pay past performance rather than spur improved future performance? Does your current plan truly encourage innovative thinking and risk-taking, or does it simply encourage a status quo mentality and loyalty to the boss?
New Lantern’s professionals have extensive experience in designing inventive executive and non-executive compensation programs in a wide range of industry settings and conditions. Let us help you turn adversity into an inspiring opportunity to make the necessary upgrades to your compensation program that will result in performance 2.0 for your company or organization.
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