Sponsor: Pirtle Construction Company
Speaker: Radek Knesl, FMI Corporation
Incentive compensation is a huge investment. The U.S. construction industry has an enormous opportunity to improve the effectiveness of current incentive compensation programs as only 37% of construction companies use industry market data to ensure adequate incentives. It can be challenging to create an incentive plan that supports your strategic objectives, motivates attainment of stretch goals, provides desired returns and behaviors and yields results. FMI set out to answer some basic questions to find out what makes incentive compensation more effective in the eyes of top executives in the construction industry. The results of this incentive compensation survey will be revealed during this presentation.
∙ Discover the seven critical issues that are common practices in the construction industry that need to be addressed in order to improve the effectiveness of your incentive program
∙ Understand why paying discretionary bonuses are not effective for moving your company forward
∙ Learn how total rewards can attract and retain the best talent and increase your return on investment
∙ Discover how to effectively balance the incentives to minimize unintended consequences such as divisional silos and free riders
∙ Learn how to avoid the pitfall of paying out bonuses in lean years and ensure adequate time for proper transitions to new plans
Click here for the more information.
South Florida Chapter