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.
Focus Group Testing
Focus Groups are a great way to test Incentive Compensation Plans and their accompanying communication materials. The number and size of the group will depend on the size of your institution. Certainly, as a minimum, you will need one person from each discipline that the plan has targeted. And in these individuals look for people that are known influencers in your organization. That is they have the leadership skills that can move their peer groups in the right direction. Some of the areas you should discuss in the Focus Group are the following:
What behaviors does the plan support?
Do you see holes in the plan?
Is the plan equitable?
Is it motivating?
Is it understandable?
Are the corporate communications describing the plan clear and concise?
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Insights on Incentives is brought to you by NSS Corp.
