CEO & Leadership Team Short Term Incentive Plans
Written by David May
In the face of rising costs of living, our research found that the majority of employees will be seeking pay rises greater than 8% which is a number most businesses can’t accommodate.
Firms are left with 3 choices;
- Refuse the pay rise the employee is looking for and risk them leaving or even worse, staying as a disgruntled member of the team
- Pay what they are asking for and put profitability at risk
- Offer a smart Short Term Incentive plan that can offer the employee the opportunity to earn more than the 8% whilst also protecting downside risk
Short Term Incentive Plans
The attached whitepaper provides some guidelines into what makes a good Short Term Incentive Plan (STIP) from research led by Lawson Delaney. We cover the different types of STIs that organisations should consider, strategic measures to improve productivity and employee engagement, and how to engage and retain senior leaders, all whilst mitigating risk.
For more information and support for your organisation’s unique context and goals, please contact David May at 0493 660 013 or david@lawsondelaney.com.au.
Lawson Delaney is a leading executive search and professional recruitment firm based in Melbourne. We specialise in recruiting CEOs and leadership teams, and accountants of all seniorities for Accounting firms. Contact us on 03 9946 7300 or support@lawsondelaney.com.au to learn more about how we can assist you with a vacancy or new role today.
Written by David May