New York, NY (PRWEB) July 18, 2012
On 07/12/12 Rania V. Sedhom, Esq. of Bressler, Amery & Ross, P.C. and Dr. Rotimi Akinyemiju, Chief Operating Officer, Moda Operandi, Inc. presented a seminar entitled “The Way We Do Business Has Changed; Why Haven’t Your Incentive Plans?” and spoke to an audience inclusive of Luxury Brands executives and their vendors about the appropriate way to design an Incentive Plan to ensure employee productivity and brand competitiveness. Specifically, a successful incentive plan should include both cash and non-cash rewards.
Sedhom and Akinyemiju discussed how to properly align your company’s plan with both external conditions like the economy and globalization with company strategy – both short-term and long-term. A global, luxury contracting company specializing in the design and installation of natural stone and other hard-surface materials like mosaics asked how incentive plans with a team component can work when some individuals work off site and others work entirely remotely.
A representative or participant from Calvin Klein pointed out that the motivations of UK workers are different than those of US workers. Sedhom and Akinyemiju noted that that examining and addressing cultural differences is a key element to designing an incentive program. An improperly designed incentive plan can have the appearance of favoritism and ”distorted opportunity fairness which can adversely impact employee relations and also lead to litigation,” warned Sedhom.
The Executive Compensation and Employee Benefits Practice Group of Bressler, Amery & Ross, P.C. will schedule quarterly seminars to be held at different venues around New York City and covering topics of burgeoning business interest.
To learn more about Bressler, Amery & Ross go to http://www.bressler.com/firm.asp.