WFT_5.2b_Senior_Leaders_Performance_Rewards_Model (.xlsx)

Title: WFT_5.2b_Senior_Leaders_Rewards_Model (.xlsx)

Purpose: The OE21 WFT 5.2b Senior Leaders Performance and Rewards (SLPR) Model (.xlsx) tool is used to measure and reward high performing leaders. This rewards model approach is summarized as follows:

  • Senior Leaders are typically CEO/President, CFO, CIO, CHRM, Vice Presidents level roles

  • The CEO rates (1-5) performance of all senior leaders reporting to the CEO (direct reports)

  • The CEO repeats these ratings semi-annually unless the CEO prefers to do this annually

  • The SLPR model uses a single Excel workbook containing a rating matrix, a rewards model and a feedback model

  • The CEO appoints the role of Chief Engagement and Rewards Officer (CERO)

  • Normally the CERO is also the Chief HR Officer(CHRO) or the senior HR Manager

  • The SLPR model allows the CEO to rate (1-5) how well their direct report leaders meet each of the following seven criteria (defined in the SLPR Matrix tab):

    • Financial

    • Market

    • Strategy

    • Customers

    • Workforce

    • Leadership

    • Community

 

  • The SLPR model (Excel workbook) links the rating scores for each direct report leader to a Senior Leaders Reward Model that allocates points (or dollars) to each direct report based on how they were rated against the seven criteria.

  • After the semi-annual rating process, rewards are allocated to direct report leaders.

  • The CEO uses the SLPR Feedback tab to provide improvement suggestions for each leader

  • The CERO supports the CEO and validates the data inputs and calculations are valid

  • The CERO is responsible for setting secure passwords for the SLPR workbook and tabs so that unauthorized people cannot open and view the file. The CERO keeps backups of the file.

  • After awards are allocated, the CERO visits with the direct report leaders to individually review their rewards allocations and the feedback suggestions provided by the CEO

Figures 5.2b-1 2, and 3 are examples of the SLPR Model. Each of these examples is part of one Excel Workbook named WFT 5.2b Senior Leaders Performance Rewards

WFT_5.2b-1 Senior Leaders Value Chain

WFT_5.2b-1 Senior Leaders Performance Matrix (data comes from survey of ratings)

WFT_5.2b-1 Senior Leaders Rewards Mode (data comes from Performance Matrix)