Remuneration and Compensation - Design and implementation of a new annual bonus scheme for all employees

Brief

A privately owned, independent firm of architects, surveyors and town planning consultants, with two regional offices. The board were concerned that feedback they had received on the current short term incentive arrangements was less than positive with regard to motivation and morale of employees. Employees were concerned that the scheme was not transparent and clearly defined.

Solution

MM&K worked with the Board, and undertook the following:

• Met with all members of the Board to ascertain priorities and desires for the new bonus scheme
• Created and designed a new annual bonus plan and gained approval from the Board
• Presented an outline of the scheme to all employees in small groups and gained feedback
• At the Boards request created a new Performance and Remuneration Committee, that would implement the scheme
• Facilitated the first sessions of the Performance and Remuneration Committee in order that the performance criteria for the new scheme could be finalised by profession and hierarchy
• Ongoing advice and consultation

The bonus scheme was fully implemented and MM&K has a long term ongoing relationship with the organisation.

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