What is ICM?
Incentive Compensation Management or ICM, is the process of creating performance reward schemes that motivate and compensate the workforce and/or channel partners for the achievement of performance targets. It enables the business to effectively align the reward policy with the top level organisational focus. One of the most tangible and effective ways to compensate is to introduce some form of variable element to pay structures. Most companies equate compensation with monetary reward but this is no longer exclusively the case. Stock options, air miles, holiday entitlement, vouchers etc. all represent examples of other types of compensation offered to employees in today’s workplace. Reward for performance is not revolutionary, but the process – application and measurement – of incentive compensation is undergoing significant change. It is no longer viewed as a back-office admin function, it now represents a strategic asset in the executive manager’s handbook. ICM provides a single solu
