Introducing a bonus or commission scheme incentivises employees and helps to align them with key business drivers such as: sales, profit, development of longer-term business relationships, improved employee loyalty and commitment, behaviours and values.
Our approach to designing a bonus or commission scheme is about understanding the results you want to achieve and working back to the scheme design - starting with the outcome in mind.
The service we offer follows a well-established method that ensures nothing important is overlooked.
Our bonus and commission scheme design includes:
Reviewing and assessing your current approach;
Identifying possible scheme designs and helping you to determine the best fit;
Developing the detailed scheme;
Supporting the approval process, providing policy papers for remuneration committees; and
Implementation assistance: helping to develop and deliver implementation, including communication plans.
As our bonus and commission scheme design solutions are tailored to your business needs, you can be confident you will end up with a scheme that supports your business strategy, whilst engaging your employees.
Of course, the level of bonus figures and commission schemes available to employees is ultimately a management decision. You’ll also want to consider factors such as personal contribution and experience. But our thorough approach to designing a bonus scheme will ensure that your organisation offers benefits which are matched appropriately to the demands of employees' roles.
Would you like to know more about our Bonus and Commission Scheme Design? Get in touch.
Pay and Reward Expert
Tim is a passionate HR specialist with over 20 years’ experience in pay and reward. As a director of Paydata, Tim has worked with thousands of satis...