How to Avoid an Incentive Pay Fail (Lessons Learned from Wells Fargo)

recording How to Avoid an Incentive Pay Fail (Lessons Learned from Wells Fargo)

You Will Learn:

  • How to avoid the most common issues that cause incentive plans to fail
  • Techniques that incentivize employees to achieve results without encouraging rogue behavior
  • How to navigate the trickiest components of an incentive-based compensation approach
Access the pre-recorded audio conference
$269.00
 

What questions should Wells Fargo have asked about its incentive program?

Incentive plans are great tools. But like any other tool, they can be dangerous if used ineptly.

In fact, the improper practices by Wells employees were fueled by a flawed incentive system that paid employees based on the number of accounts opened.

So, what really went wrong at Wells? How can your organization benefit from the lessons learned? Ask yourself…

  1. How will your incentive plan be gamed? (If you don’t think your system will be gamed, you’re naïve!)
  2. Does your incentive plan encourage illegal behavior? (Incentive-driven bad behavior happens at all levels in modern corporations, not just in front line posts.)
  3. What approach will work best for both employers and employees?

Learning Objectives

During this timely, “how-to” webinar, you will learn how to navigate the trickiest components of an incentive-based compensation approach, including:

  • Structure appropriate incentives and targets
  • Assure pay incentives reflect company culture, values, and vision
  • Create pay plan accountability
  • Determine what behaviors and results you want to incentivize
  • Establish clear role of salaries and incentives
  • Avoid the most common issues that cause incentive plans to fail
  • Determine if your incentive plan is designed properly
  • What not to do when shaping your incentive compensation plan

Product ID: 9478

How Can You Ensure Your Compensation Plans Don’t Promote Fraudulent Behavior?

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Faculty

John A. Rubino
John A. Rubino
President, Rubino Consulting Services

He is a faculty member and seminar developer for WorldatWork and the American Management Association. He teaches courses on total rewards development, quantitative analysis, compensation incentive plan design, job evaluation, performance management, base pay design, global compensation and benefits, effective communications and equity reward programs.

Continuing Education Units

  • hrci

    HRCI – Receive 1.25 recertification credit hours toward PHR and SPHR recertification through the Human Resource Certification Institute (HRCI). For more information about certification or recertification, please visit the HRCI homepage at www.hrci.org.

    “The use of this seal is not an endorsement by the HR Certification Institute of the quality of the program. It means that this program has met the HR Certification Institute’s criteria to be pre-approved for recertification credit.”

  • shrm

    C4CM is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. This program is valid for 1.50 PDCs for the SHRM-CPSM or SHRM-SCPSM. For more information about certification or recertification, please visit www.shrmcertification.org.

How Can You Ensure Your Compensation Plans Don’t Promote Fraudulent Behavior?

Order my recording now

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