Draft clear and understandable explanations of the short-term incentive plan (STIP) to communicate the program to participants, address concerns, and alleviate potential confusion. Use the STIP Overview Template to document:
- Key organizational objectives
- STIP components
- Performance measures
- Weightings
- Modifiers
- Circuit breaker
- Payouts
- Administration
- Resources and Appendix
Use this template to create a document that can be used as a reference for STIP participants.