Learn all about the major categories of variable pay and the key differences between short and long-term incentive plans, bonus plans, and what to consider when evaluating recognition plans.
Numerous factors determine how organizations determine their variable pay plans. Total Rewards professionals need to understand the various types of variable plans and how they are used to drive performance and results. The selection of plans depends in large part on the organization’s business objectives. Is profit the principal objective, requiring all employees to focus solely on the bottom line? Is short-term performance more important than long-term success, or vice versa?
This session presents the three major categories of variable pay along with the basics of several different variable pay plans and important considerations when using these plans.
In this session, you’ll learn:
- The three major categories of variable pay
- The difference between short-term and long-term incentive plans, including objectives, approaches and considerations.
- About bonus plans, including objectives and considerations.
- What to consider when evaluating recognition plans, including objectives and considerations
Liz Mayo, CCP, GRP, MBA
Liz Mayo's experience spans executive and board of director compensation, annual and long-term incentive plan design, change-in-control, employment agreements, equity pay and litigation support, among other topics. She is a Certified Compensation and Global Remuneration Professional with over two decades of compensation experience, including 16 years as the Sr. Director of Compensation for Brinker International. She has consulted extensively with public, private, and not-for-profit companies. In addition, Liz has experience in corporate human resources, with a specific emphasis on analytics and financial metrics analysis.
Ms. Mayo volunteers time for several compensation non-profit boards and since 2007, she has served as a faculty member for WorldatWork.
Please note: Prices are subject to change without notice. All sales are nonrefundable. Playback and the on-demand recorded session will be available 30 days following the live event, and you can access the session for 90 days. Your 90-day access begins the day of order.