Insights on Incentives has as its sole purpose the facilitation of thought and discussion on the subject of incentive compensation for banks and credit unions. Once a month NSS will be sending out an e-mail with one insight on the area of incentive compensation. The insights will come from our research, discussion with customers and finally, those of you who decide to offer an insight on this important sales management issue.
Modifying the Incentive Compensation Plan
A key point to be covered when launching an Incentive Compensation Plan is that it will be changed. This issue needs to be driven home during the initial education process and followed up in ongoing communications.
An accompanying issue to be covered early is the modification process.
This should be thought out and defined during the initial design
phase. Plan modifications should go through the same process that
was employed to develop the initial Incentive Compensation Plan.
Inclusion is important to get employee buy-in.
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Insights on Incentives is brought to you by NSS Corp.
