The Importance of Incentives: Why and How to Create a Good Incentive Plan

WHITEPAPER

The Importance of Incentives: Why and How to Create a Good Incentive Plan

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It is time to get rid of dated compensation practices and adopt new modern methods to bring pay forward in your organization. Pay for performance no longer works especially in today’s labor market. In a hot job market, it is highly important to get pay and incentives right. Engaging your workforce requires more than just great pay. What is your organization doing to attract and retain top talent?

In this white paper, we’ll explain what incentives compensation is, examples of how it works, its benefits, some potential pitfalls in such a program, and some tips for implementing and improving an incentives compensation plan at your organization.

Download this whitepaper to also learn more about how PayScale’s compensation software and data products can help your organization build a robust comp strategy to incentivize your workforce.