PART 5
Incentive Compensation: Supercharge Your Bonus Plan Effectiveness
When it comes to incentives, A/E/C firms struggle to measure bang for the buck, a significant problem in a hot economy where hitting targets doesn’t always require superior performance. So how can your firm structure bonuses in a way that makes more sense for all parties? What are other firms in your market doing to incentivize their designers, technicians, leaders, and executives without breaking the bank and wasting resources? Using PSMJ’s proprietary survey data, we’ll dive into the thorny issues surrounding bonus comp and show where slight tweaks have outsized results.
Learn:
- How to make your bonus program reward desired behavior
- What your peer firms are doing to hit ROI targets for incentive pay
- Unintended consequences of poorly structured plans
- The biggest mistakes firms make when distributing bonuses to owners
- How to benchmark your incentive compensation plan