3 Tips for Your Midyear Comp Plan Review –

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xactlycorp.comSavvy compensation plan administrators know it is essential to keep an eye on the big picture and constantly evaluate how well an incentive compensation plan is performing against corporate goals. Midyear is an important time to examine plan performance because you’ve generated enough data to indicate how a plan is working, and where or how it might be falling short.

There are two things a thorough midyear analysis can do. The first is to drive more effective tactical plan changes. Mid-course plan changes can be risky, and often, not even necessary. But you won’t really know that unless you have good analysis behind you. If you act on surmise, conjecture, or emotion it’s easy to overreact or move in the wrong direction. With a comprehensive six-month analysis, it’s possible to make prudent and impactful tactical changes, as opposed to change for change’s sake.

 

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photo CC by Ken Teegardin

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