Incentive compensation systems are in place in companies across the nation. In many industries, salary isn't enough to attract and retain good employees anymore. Workers expect incentives beyond monetary compensation. The tough competition for employees among employers in similar industries has driven this expectation, as employers have offered increasingly more elaborate and generous compensation packages to both workers and applicants. Many times, all a valued employee has to do is threaten to quit in order to be offered a fantastic array of perks and incentives if he will just stay. No employer wants an opening to go unfilled for months or even years while a search goes on for just the right replacement.
Incentive compensation programs are extremely varied and can include such things as:

• Profit sharing
• Stock options
• Paid time off
• Performance bonuses
• Generous signing bonuses
• Paid maternity leave

Incentive Compensation Systems to Keep Employees Happy
Putting the right incentive program into place may be a confusing and daunting task. Human resources directors don't want to hurt a company's bottom line by being too extravagant, but also want to give employees a good reason for staying. Compensation consultants can help human resources managers put together the proper program for the company's goals. After in-depth analysis of each individual corporate situation, compensation consultants will show company leaders the best plan of action and demonstrate how it will benefit the company both in terms of human resources and financially. Fox Lawson & Associates, a division of Gallagher Benefit Services, Inc provides compensation consulting to companies throughout the country. The company can be contacted at jfox@foxlawson.com.