Intro to the Top Ten Tips...

Each month, Tim posts his 'Top Ten Tips' for HR practitioners on various subjects. This month's subject is 'Key steps to setting up your company's first incentive program'. A list of subjects for forthcoming months and links to previous subjects can be found at the bottom of this page.

Position any new program in the context of broader business requirements and the company's 'total compensation' strategy for the affected participants;

Ensure that the preparatory financial analysis is sound and that several sensitivity analyses have been done to account for changing business conditions;

Obtain the buy-in of the Senior Management of the company to ensure collective ownership;

Consult with line management for the setting and agreement of 'stretch' business targets that pre-fund the anticipated incentive disbursements to eligible employees;

Prepare the program guidelines for agreement by Management; test the range of business results scenarios that will happen and their potential affect on the program;

Check with peers at other companies to acquire their own incentive program success and program failure stories. Learn from them before embarking on your program;

Ask for input from mid-level and junior employees who may be eligible. Their perspectives are valuable;

Prepare the program documentation and communication carefully. Be sure that employees know the shared accountabilities for making the program work;

Provide regular feedback to employees on progress to date during the year. Be clear and totally open on the likelihood of reaching program targets;

Resist the temptation to change the guidelines too regularly. Let the program mature and change the rules when there is a legitimate business need.

Timetable 2000/2001/2002/2003 ... Top Ten Tips

Month	Subject
July 2003	Managing alleged employee threats, assaults and similar related incidents in the workplace
June 2003	Key steps to setting up your company's first incentive program
May 2003	Recruiting overseas talent to your organization…how to plan for a successful hire
April 2003	Relocation/transfer policies...how to keep your moving policy relevant, competitive and well-managed
March 2003	Communication of HR Objectives...how to maximize impact with employees
February 2003	How HR can start and finish the year with an improved report card
January 2003	Setting up the company's Labour Strategy...how to construct the framework in a business context
December 2002	The contract HR Executive - how to add value
November 2002	Performance Reviews - why Managers and Employees fail to do a good job
October 2002	Severance/Dismissals 'for Cause' - how to strike a balance
September 2002	Developing HR staff for the medium term...how to build the right HR skills for HR's clients for the balance of this decade
August 2002	How to make an external 'Coach' a positive work experience
July 2002	How to prepare for that job offer. What is the appropriate etiquette?
June 2002	How to stay 'pumped' when you are between jobs and the immediate prospects look tough
May 2002	Enforcement of substance abuse infractions - do's and don't's
April 2002	Substance Abuse in the Workplace - Generic Rights & Responsibilities of all parties
March 2002	Post-interview evaluation and feedback. How to add value for your clients
February 2002	Behavioural Interviewing: sense or nonsense? How to get the best from improved hiring techniques
January 2002	Recognition Programs - the right set-up for employee acceptance and corporate success
December 2001	HR work habits for 2002. The need for reform
November 2001	Downsizing aftermath...how to keep the survivors focused for the future
October 2001	How to plan strategically for downsizing, maintaining HR's credibility and employee loyalty
September 2001	Collective Bargaining...now you have the deal, how do you make it work?
August 2001	Managing Consulting Costs...how to keep hold of the reins and avoid surprises
July 2001	Expatriate Career Assignments...how to manage the risk and improve the odds of a 'win/win' for employee and employer
June 2001	Part Two of 'Browsers' Choices'... some tips on how to migrate successfully from 'A' to 'B' in a prudent, yet urgent, manner
May 2001	Part One of 'Browsers' Choices'... a summary of the 'new & old world' of HR business
April 2001	Managing promises and expectations during the "R" word
March 2001	'High Potential' Employees...how to ensure they don't sit out the game, then leave
February 2001	How to write really useful Job Descriptions...connecting the business dots
January 2001	Outsourcing...the 'Catch 22' for HR Managers
December	Spreading scarce bonus/incentive dollars...best bang for the buck
November	Ethical Practices in Performance Appraisal & Related Salary Admin
October	Stock Option Plan Design in private companies heading for an 'IPO'
September	Key Lessons in 'Downsizing'...maintaining business & employee relationships under difficult circumstances
August	Grievance management in unionized and non-unionized workplaces
July	Business Planning in HR...how to flex HR's muscle
June	Settling post-termination disputes; mutual gains
May	360° Feedback...is it right for you?
April	Harassment in the Workplace...practical considerations
March	Interpersonal Conflict in the Workplace