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Variable Pay and Incentives
In the unyielding search for competitive advantage, organisations continue to emphasise the importance of
maximising performance from all employees. The design of the performance management process and the capability of line
managers to manage performance are critical; so too is the integration of reward.
Watson Wyatt’s team of experienced reward consultants work with HR, Finance, IT and line managers to ensure that reward
programmes (base pay, variable pay, recognition, promotion and career development) are integrated with the performance
management process.
We work with our clients on the following types of variable, performance-based pay plans:
- Recognition plans.
- Short term / annual bonus plans - for all staff or defined groups of employees.
- Sales compensation plans.
- Performance related salary programs.
We work closely with our clients to:
- Understand the key drivers of success for the industry and the client’s specific situation.
- Reflect the culture and values of the organisation so that bonus plans reward the what and the how.
- Apply alternative bonus models to ensure the most appropriate fit that will attract and retain key staff.
- Financially model that costs under different business teams identifying the impact on different groups of eligible employees.
- Implement plans, including support to the communication of the plans purpose, features or benefits.
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