Hello,
Our company is considering adding a Deferred compensation plan to our long-term and/or top tier managers and leaders and wondering if anyone here has an personal experience with something like that, for bonus and retention purposes, that you could provide any insight on? Currently we have a Foreman Academy that includes a longevity (deferred) payment program, but we don't feel like the results are providing the goal that was intended, so we'd like to either streamline that or revamp it completely, and then perhaps add some non-field employees to the plan now too.
Looking for the pros, cons, lessons learned, tips or suggestions on implementing a bonus/benefit like a Deferred Compensation plan.
Thanks in advance for any thoughtful replies!
------------------------------
Jennifer Moulton
Controller
Wheeler Electric, Inc.
Idaho Falls ID
(208) 529-1985
------------------------------