Designing successful variable pay plans for credit unions is one-part
science and an equal part art. Nearly all of the top-performing lending
credit unions in the country utilize pay for performance and incentive
programs to motivate their staffs. The challenge comes in designing
incentive programs that are simple, effective and fair.
The following topics will be covered in this QuickBite:
Should all employees be rewarded for reaching certain financial
Which employees should have a variable pay plan?
Should you utilize group or individual incentive programs?
How to prevent an additional payroll expense without achieving the
needed financial result.
Suggested incentive structure for senior management, middle
management and front-line staff.
How to end the whining about aggressive variable pay plans in the