Available in:

OnDemand Course

How to Develop Effective Pay for Performance Plans

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.

88 minutes
Certificate of Completion
Purchase Options

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
Purchase Options

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.

Purchase Options

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
Purchase Options

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

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.

Sign Up Today
With This Course

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.

Product ID: 393729
Purchase Options

Available in Multiple Formats

Purchase this course and learn on your schedule!