SUPPORTING THE BUILDING OF A SALARY AND REMUNERATION PROGRAM

Large, successful companies like Google and Apple have long ago realized that remuneration, bonuses and incentives are directly linked to motivation. They enable the employee to make the connection with the process through two parallel paths. One path is the desired results in the context of the project or work itself. The second path is the personal remuneration, which creates an incentive to create, plan and develop successful work processes and, at the end of the day, to produce actual results.

Whether you are a CEO, a VP Sales, VP HR, or fulfill any other role in which you are responsible for employees, for work processes and for results, and whether you are at the top of a large organization or even a small business – it is important to create orderly salary and remuneration programs enabling you to provide the employees with the most appropriate, most effective incentive on their way to accomplishing the goal.

SO WHICH MODEL IS THE MOST SUITABLE FOR YOUR EMPLOYEES?

Simply making an arbitrary decision to decide one day to give this employee a bonus and on another day to reward that department – is not enough. In order to generate motivation on a permanent, systematic basis, and in order for such an initiative to prove itself financially as well, it is imperative to plan and build a model suited in advance for you and for your specific workforce.  

We at Compvision have approximately 15 years of experience in building performance-dependent remuneration programs – bonuses for executives and employees, incentives for sales managers and personnel, remuneration of service and manufacturing operations, and more.

HOW DOES THE PROCCESS OF BUILDING THE REMUNERATION PLAN WITH COMPVISION WORK?

We begin with understanding the customer and checking what is the general strategy, what are the targets, challenges, organizational culture, and organizational structure.

We create specific detailed remuneration plans for you, by defining number of parameters - for example: budget definition, the remuneration potential by role, specification of the parameters (indices) which will be measured, setting the relative weights of the parameters, measurement frequency and building the “payment lines” (the link between the level of performance and the remuneration awarded for it).

We move on to examine existing programs - we learn what the current state is and whether the existing mechanisms are effective. We then perform a gap analysis process and check which are the most important points to improve and where it is necessary to sharpen the focus of the programs.

Running results forecasting simulations - for the program and its effect on the company and on the rewarded employees.

We then present case studies from similar companies - what others are doing in similar companies, what kind of models exist there and how much they pay as incentives. Following that we present alternatives.

If necessary (especially in cases of financial institutions, public companies etc.) - we adapt the models to the regulatory requirements.

Subsequently we help in presentation and communication of the programs to the existing staff, we assist and support in the implementation, assimilation and dissemination of the message to the participants - using explanatory presentations, Q&A documents, a personal simulator etc.

We build the tools for implementing the program - files defining the targets, calculation files and simulators, individual and management reports, as per the customer’s requirements.

In addition, we offer an option within we take responsibility for implementation and operation of the programs:

  • Calculation of the actual incentives and/or bonuses - performing the calculations while preserving discretion, meeting tight schedules, meticulous data control and transfer of the results in any desired format to the relevant entities within the organization.
  • Tracking and control of the effectiveness of the program and recommendations for modifications if necessary.

For each customer we create a unique custom-built process according to the existing data, company structure, strategy and number of employees.

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