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You have been asked to develop a short-term incentive plan that motivates employees in business units to increase productivity. Your team has designed a plan that rewards managers and employees quarterly based on achievement against target on measures that should generate productivity increases that will self-fund the plan. When presenting the plan to senior management, what would be the best strategy to receive approval?
Suggested Answer: A
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33 comments · newest first
ES
Essie
10 months ago
Wait, how can a plan be self-funding? That seems too good to be true.
MI
Mi
11 months ago
I think option D is key—understanding stakeholders is crucial.
JA
Jacquline
11 months ago
Definitely agree with A, alignment is everything for approval!
AL
Alex
11 months ago
B is important too, but I’d focus on the potential gains.
DA
Dalene
11 months ago
A self-funded plan sounds risky, but could be worth it!
OR
Orville
11 months ago
I feel like providing detailed measures and administration plans is important, but I wonder if it might overwhelm the audience. Keeping it simple could be better.
CA
Carla
12 months ago
I practiced a similar question where we had to address stakeholder priorities. It seems like a good strategy to anticipate objections before presenting.
AL
Alysa
12 months ago
I’m not entirely sure, but I think demonstrating how the plan is self-funded could be a strong point. It might help alleviate concerns about financial risks.
LO
Long
1 year ago
I remember we discussed the importance of aligning incentive plans with the overall business strategy. That could really resonate with senior management.
BE
Bev
1 year ago
I feel pretty confident about this one. The key is going to be demonstrating how the plan is aligned with the company's overall business strategy and rewards principles. If I can do that clearly, I think I've got a good shot at getting the plan approved.
LI
Lilli
1 year ago
Okay, I've got a strategy for this. I'll focus on making the case that this is a self-funded plan, so there's no real risk to the organization. And I'll make sure to identify any potential stakeholder concerns ahead of time and address them proactively.
AN
Antonio
1 year ago
I'm a bit unsure about this one. There are a few different elements to consider - the plan design, the measures, and how to get buy-in from senior management. I'll need to think through the best way to present all of that effectively.
DA
Darrin
1 year ago
This seems like a straightforward question, but I want to make sure I cover all the key points. I think the best approach would be to demonstrate how the plan aligns with the company's overall strategy and rewards philosophy.
MA
Maile
1 year ago
I believe we should also address any potential objections from stakeholders in advance to increase our chances of approval.
VI
Vi
1 year ago
I agree with Mickie. Senior management needs to see how the plan fits into the overall business goals.
TH
Thora
2 years ago
I think a combination of demonstrating the plan's strategic alignment and providing the specifics on design and administration is the way to go. Gotta cover all the bases.
NA
Natalie
1 year ago
C) Make the case that a self-funded plan poses no risk to the organization while creating the potential for significant gains
ST
Starr
1 year ago
B) Provide details on the plan design and measures and how they will be administered to employees at different levels
FR
France
1 year ago
A) Demonstrate how it is aligned to the rewards philosophy, principles and organizational business strategy
TR
Trina
2 years ago
Haha, good luck getting senior management to approve anything without a ton of data and details. This presentation better be thorough!
AL
Alyce
1 year ago
D) Identify in advance the priorities of the various stakeholders and design your presentation to address any objections or perceptions they may have
SH
Shawnee
1 year ago
D) Identify in advance the priorities of the various stakeholders and design your presentation to address any objections or perceptions they may have
LE
Leigha
1 year ago
C) Make the case that a self-funded plan poses no risk to the organization while creating the potential for significant gains
BO
Bo
1 year ago
C) Make the case that a self-funded plan poses no risk to the organization while creating the potential for significant gains
RA
Ramonita
1 year ago
B) Provide details on the plan design and measures and how they will be administered to employees at different levels
LO
Lou
1 year ago
B) Provide details on the plan design and measures and how they will be administered to employees at different levels
KA
Kayleigh
1 year ago
A) Demonstrate how it is aligned to the rewards philosophy, principles and organizational business strategy
JA
Jame
1 year ago
A) Demonstrate how it is aligned to the rewards philosophy, principles and organizational business strategy
GR
Gracia
2 years ago
Addressing the priorities and perceptions of stakeholders is key. Can't forget to highlight the alignment with the overall business strategy.
MI
Mickie
2 years ago
I think the best strategy would be to demonstrate alignment with the rewards philosophy and organizational strategy.
TR
Tran
2 years ago
The plan seems well-designed to motivate employees and generate productivity gains. I like the self-funding aspect - it's a win-win for the company.
JA
Janine
1 year ago
C) Make the case that a self-funded plan poses no risk to the organization while creating the potential for significant gains
CL
Clement
1 year ago
A) Demonstrate how it is aligned to the rewards philosophy, principles and organizational business strategy