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Know what you're getting for your investment - a comprehensive incentive assessment helps you quantify the returns on your program investment at all relevant levels of your organisation.
It is not only a financial analysis. It also takes into consideration other areas of your business that may influence the results of your incentive program.
Understanding beyond financials
It is not enough to regard financial indicators superficially. An in-depth Incentive Assessment will address Return on Investment (ROI), variance analysis and other important financial indicators - in the broader context of your business environment.
The Assessment addresses the following factors:
· The alignment between your various departments and supply chain(s)
· The alignment of your strategic goals to performance indicators
· The standards of your service against industry best practice
· Whether your organisation and program participants are adequately prepared
· Whether resources are allocated for best effect
· The impact that the program has in achieving the required goals or behaviours.
Your management practices and participant behaviours are validated against current best practice. The results are then correlated with performance measures, including a quantified ROI measurement.
The combined results are analysed in detail using a holistic Balanced Scorecard framework across your program.
A comprehensive Incentive Assessment gives you a detailed, high-level perspective on your incentive program investment. You will have a thorough and objective understanding of the success of your program, as well as a clear understanding of need for corrective action.