Learn how to improve employee performance while keeping cost in mind by developing an effective pay for performance plan.
Motivated workers are critical to corporate success; however, neither a cookie cutter approach to motivation and engagement nor a highly individualized structure tends to be effective in the long run. As a result, organizations across the country are seeking to continuously improve employee performance, while simultaneously controlling costs. Establishing or expanding pay for performance programs can be an effective strategy to achieve this objective. When designed well, pay for performance plans align employee behaviors and activities with specific goals. When designed poorly, such plans can cause confusion and frustration among employees and dissatisfaction among owners and management. This topic will cover key features to be considered as well as practices to be avoided in order to design a plan that succeeds in motivating and recognizing desired performance.
Add to Wishlist
More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Why Pay for Performance?
- Evolution of Compensation Plan Design (Tenure and Experience to Market Competitiveness to Merit and Competencies)
- Relevance of Pay for Performance (Data Findings)
- Common Forms of Performance-Based Pay (Salary Increases, Incentive Pay Types, etc.)
Salary Increase Practices
- Salary Increase Approaches (Conservative to Aggressive Performance-Based Increases)
- Performance Evaluation Tools
- Prevalent Program Features (Timing, Eligibility, Amounts, etc.)
- Merit Matrix Explanation and Example
Variable Pay Plans
- Overview of Performance-Based Variable Pay Types
- Prevalent Plan Features
- Ongoing Assessment/ROI Tools
Tips for Effective Performance-Based Pay
- Involvement Throughout the Organization
- Establishing/Assessing Performance Metrics
- Organization-Wide Communication
- Additional Best Practice Considerations
Add to Wishlist
More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on June 20, 2016.
Call 1-866-352-9540 for further credit information.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
Add to Wishlist
More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Priya J. Kapila
CBIZ, Inc.
- Manager in the compensation consulting division at CBIZ, Inc. Human Capital Services
- Participated in the development of compensation plans for multiple organizations
- During her time with CBIZ, she has gained experience in market pricing, developing and reviewing job analysis questionnaires, designing salary structures, drafting compensation plan policies and procedures, and structuring performance-based incentive programs for a variety of positions within many industries
- Recently led the development of analyses to test for compensation discrimination within public and private organizations
- Performed financial analysis for an investment banking firm, specializing in the area of public finance. In this role, she became experienced in the implementation of financial structures and initiatives for both nonprofit and for-profit organizations
- Was involved in developing financial products for institutions of higher education and renewable energy companies
- Certified Senior Professional in Human Resources (SPHR) and a Certified Compensation Professional (CCP)
- Currently a member of WorldatWork and the president of the Compensation and Benefits Network of Greater St. Louis (CBN)
- M.B.A. degree, University of Missouri-Columbia; B.S.B.A. degree, and B.A. degree in international studies, University of Missouri-Columbia
Add to Wishlist
More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
All of your training, right here at Lorman.
Pay once and get a full year of unlimited training in any format, any time!
- OnDemand Courses
- Live Webinars
- MP3 Downloads
- Course Manuals
- Executive Reports
- White Papers and Articles
Additional benefits include:
- State Specific Credit Tracker
- All-Access Pass Course Concierge
Questions? Call 877-296-2169 to speak with a real person.
Access to all training products for one year
$699/year
Unlimited Lorman Training
With the All-Access Pass there is no guessing what you will need for your yearly training budget. $699 will cover all of your training needs for an entire year!
Easy Registrations
Once you purchase your All-Access Pass you will never be any further than one-click away from attending any Lorman training course.
Invest in Yourself
You haven't gotten to where you are professionally by luck alone; it's taken a lot of hard work and training. Invest in yourself with the All-Access Pass.
