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Service Management: When Pay Plans Go Off Track
Featuring: Rob Campbell & Michele D’Antonio - Withum
Air Date: December 15, 2022
1pm Eastern/ 12pm Central / 11am Mountain / 10am Pacific
Program Length: 45 minutes
What can go wrong? Why it goes wrong! How to Fix the Pay Plan! Principles for Pay Plan
Design to Avoid Unintended Consequences!
If we were all totally honest, we would admit that Pay Plans usually start with the compensation dollar value you place on the position. Step 2 is to then create incentives for the manager to perform so that when applied to acceptable results end up with a paycheck somewhere close to the “compensation value” you first had in mind.
The difficulty with pay plans is that smart managers can either find a way to “game” the system… or will end up, as a result of factors beyond his/her control… unjustly compensated for their efforts… either overpaying or underpaying.
Visit with Rob Campbell & Michele D’Antonio as they examine how pay plans go off track and how those unintended consequences can be avoided.