Effective Goal Setting for Incentive Plans

On today’s episode, we’re joined by Partner, Jonathan Szabo, and Principal, Mike Meyer, both of Meridian Compensation Partners, LLC.Jonathan and Mike dive deep into the complexities of establishing meaningful goals for incentive plans. They share practical strategies for setting both short-term and long-term goals that align company performance with desired executive behaviors.Key Takeaways:(02:22) Compensation philosophy provides blueprints for decision-making.(04:02) Philosophical discussions around goal setting are crucial.(04:46) Involving members of the audit committee can enhance goal-setting.(07:17) Adjustments to incentive plans require consistent methodology.(07:37) Factors like internal budgets and historical performance impact goals.(12:01) Committees should consider economic predictability when setting goals.(17:20) Strategies for uncertain times include setting growth rate targets.(21:40) Approaches differ for short-term vs. long-term incentives.Resources Mentioned:Jonathan Szabo - https://www.linkedin.com/in/jonathan-szabo-13045493/Mike Meyer - https://www.linkedin.com/in/mike-meyer-626a6071/Meridian Compensation Partners, LLC - https://www.linkedin.com/company/meridian-compensation-partners-llc/This episode is brought to you by Meridian Compensation Partners, LLC. Learn more by visiting MeridianCP.com. #Compensation #Wages #SPAC #Equity #ExecutiveCompensation #Clawback

There are no comments yet.

Please log in to write the first comment.