Raleigh, N.C. FMI Corporation, the leading provider of management consulting and investment banking services to the engineering and construction, infrastructure and the built environment, is pleased to announce the release of its latest study, “Compensation Planning for Engineering and Construction Firms – 2016 Industry Survey.”
The publication identifies key industry trends related to incentive compensation plans, compares incentive practices provided by companies today with those reported by companies in 2013, highlights prevalent practices aimed at employee attraction and retention, and provides action plans on how to address several compensation-related challenges.
Some of the main study findings include:
- Almost 60% of respondents do not tie their compensation plans to corporate strategies.
- Almost 30% of respondents are spending less than 5% of their operating incomes on incentive compensation.
- The shift toward incentive compensation plans continues, yet more than 50% of respondents still find their compensation plans either ineffective or just moderately effective.
- Almost 75% of survey respondents offer discretionary incentives, which appear to be distinctly less effective compared to structured incentives.
- Long-term compensation plans are viewed as an effective way to retain executives or high-potential employees.
To access the report, click here.
For over 60 years, FMI has been the leading management consulting and investment banking firm dedicated exclusively to engineering and construction, infrastructure and the built environment.
FMI serves all sectors of the engineering and construction, infrastructure and built environment industries as a trusted advisor. More than six decades of industry context, connections and leading insights result in transformational outcomes for our clients and the industry.
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Rebecca Esler, FMI Corporation