Thorough incentive modelling is critical for the success of any incentive plan. Incentive models that are not thoroughly tested may be unaffordable, pay out too much or too little, fail to differentiate adequately, or fail to motivate sufficiently.

Excel provides wonderful tools and techniques for modelling incentives, but you need to know how to use them effectively.

In this session, Dianne will review areas of incentives that can be modelled in Excel such as:

• Eligibility
• Measures
• Performance targets
• Hurdles
• Weightings
• Payout levels

She will outline guidelines for good incentive model design and will then draw up an incentive modelling tool for a company wide incentive bonus plan. This modelling tool will allow the user to model different weightings, performance targets, payout levels, hurdles and eligibility, and to experiment with different incentive parameters to minimise incentive payout moderation to the incentive pool.

Dianne will create interactive tables, charts and data tables to illustrate payout costs for different business areas and levels and payout distribution.

During this Excel for Reward masterclass, attendees will learn how to:

• Create an interactive incentive modelling tool.
• Use a spin button, Data Validation, Lookup and If functions to model eligibility.
• Name ranges to make formulas easier to write, understand and edit.
• Set up flexible performance – payout tables linked to the incentive modelling tool using the Rows function.
• Use the What-if Analysis tool, Goal Seek, to determine the bonus pool % necessary to set the modifier at 100% when all employees are eligible for the incentive.
• Calculate employee incentive payout amounts before and after modification, using Vlookup, If, IF(And) and Sumproduct functions, referencing the parameters set up in the incentive modelling tool.
• Set up a bonus pool linked to EBIT and a modifier to ensure that payout costs do not exceed bonus pool.
• Create single and dual data tables (another of the What-if Analysis tools) to model the modifier %, incentive payout and number of eligible employees using different eligibility and bonus pool scenarios.
• Create interactive tables and charts showing payout costs by business area and level, using Sumifs and Averageif functions.
• Create an interactive table and chart showing per cent of target payout distribution for eligible employees using dynamic array Frequency and Filter functions.
• Add a shape and linked information on the chart using the Text function.
• Align charts to cell borders to perfectly fit the space.

Don’t miss this informative session. Dianne will also share example files for you to practice on (after the course has taken place). This Masterclass has limited space available.

SARA Professional Members: R1 000

Paid-Up Members: R1 200

Non-SARA Members: R2 500

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