Searching Pondering Equity-Based Long-Term Incentive Plans on page 10

The Journal of Total Rewards First Quarter 2023 | Volume 32 | No. 1 In this issue: retiree knowledge transfer, Ohio workers’ comp pilot, more ESG metrics in executive comp, long-term care and CalPERS, employee trust for benefits Cover Story Journal of Total Rewards Article Tapping into Retirees to Bolster Knowledge Transfer The knowledge transfer between retirees and their remaining employees offers a unique opportunity to retain knowledge.

The legislation also permanently exempts vaccine incentives provided during a public health emergency from the definition of “compensation,” including both monetary and nonmonetary incentives, such as additional paid time off.

A complete evaluation is vital to the incentive plan’s design process to get this balance right.

One plan is based on two traditional plans that were developed in the 1940s.

Toward the latter, bonuses should not be biased based on protected characteristics such as gender, national origin, age, race, religion, pregnancy, disability or genetic information, but they can be based on non-protected characteristics such as job classification, tenure, contribution, merit production, education, training or experience.

However, Colacurcio noted, these internal pay equity analyses must be done more frequently than they have been in the past due to the extreme economic conditions of the past couple years that have no doubt exacerbated pay equity issues.

;Lack of alignment with strategic initiatives, such as cross-selling, upselling, or customer retention, which can affect the long-term growth and profitability of the company.; To overcome these challenges, many companies switch from a commission plan to a bonus formula plan, which pays salespeople a fixed percentage of their quota attainment, regardless of how much they sell.

Long-Term Value Micro HR planning is not just a reaction to current challenges — it serves as a proactive tool for aligning workforce strategies with long-term business objectives.

Course Designing and Managing Base Pay Systems Understand how equitable base pay programs are designed and administered.

;Administering and Evaluating the Plan: Sales compensation plans should include such factors as base salary ranges, a mix of base salary and incentive earnings and total cash compensation based on achieving measurable business objectives.