Apartment Trends Magazine September 2014 | Page 25

INCENTIVISE YOUR

TALENT

Three Important Steps For Building
Compensation Plans
BY ERNEST ORIENTE, POWERHOUR

D

uring the course of your professional
career as a property management executive, building new compensation
plans will be one of the most important
projects you ever undertake. In fact, this project
has the potential to be an explosive issue for your
team of SuperStars and must be designed with
great care. The information in this article will
outline three important steps for building powerful compensation plans and will share many secrets
for your success. When a compensation plan is
built right, your team will love you and your company success will soar!

GATHERING INFORMATION AND
SETTING OBJECTIVES
Start by evaluating your current compensation
plans to see how closely it aligns with the critical
success factors for your pro