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Managing motivation
Key points
- Will workforce changes mean that employee incentives are no longer fit for purpose?
- Previously set targets may no longer be achievable.
- Should existing incentive arrangements be amended or should new ones be introduced?
- Consider the possibilities of amending an existing arrangement and the possible tax consequences.
- Ensure that any new arrangements support the future business strategy.
- Consider the balance between commercial imperatives and the tax implications.
The economic and social turmoil that has resulted from the response to the Covid-19 pandemic has meant that many businesses have gone through an unprecedented period of rapid change. Many businesses are unrecognisable from those that embarked on 2020; a large number are now rebuilding or adjusting their focus and business model to deal with this.
One collateral impact of this process will be on employee incentive arrangements. Arrangements implemented in recent years that were well aligned to business strategy at the time...
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