Workplace Application: This session will present the consequences of using variable pay plans to support an organization's business objectives.

The goal of variable pay is to improve organizational performance, and designing the proper plan can be a daunting task.  This interactive session will explore the pros and cons of several types of variable pay plans, and introduce ideas on how best to implement them. You will learn about the three main types of short-term incentive systems and the two main types of long-term incentive systems, as well as implementation strategies for all five systems. We will explore the numerous types of variable pay that can be used to incent employee performance, along with the danger zones that can come with each type. You will learn the three-step system to be followed for successful variable pay implementation. The session will conclude with a discussion of the danger zones inherent in any variable pay system and how to overcome these obstacles.