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Incentive Plans

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Incentive Plans
Most companies use incentive plans in order to retain their current employees and also help recruit new employees. By offering yearly raises, a bonus structure, and performance reviews, employees can be more motivated to perform better and be a valued asset within the company. RealManage does offer incentive plans for each employee however, they are inconsistent to everyone. Most property management companies offer a 3%-5% annual raise each year to help compensate with inflation. RealManage promotes this plan when recruiting new employees. They promote highly competitive pay and place employees on a career path. The president of the branch informs each employee what the career path might be and a timeline is provided. tresero ( 2009), “No one size fits all incentive plan exists”. There are different plans for each employee when it comes to compensation. All hourly employees are presented with unlimited over-time and the ability to charge back all the mileage that you have while commuting back and forth to anything business related. Salary employees are presented with flex time and have the ability to not only charge back mileage but anything that is out of the scope of the contract between the homeowner’s association and the management company. The only difference is when an employee is hired on with RealManage, the compensation incentive suddenly changes. The hourly employees are not allowed to accrue over time hours once the meeting is over. So if an employee has an hour commute home, they will not be compensated for them. Managers have very limited time to use their flex time. Fridays are not allowed to be utilized as flex time even if the manager has a meeting every night of the week. The company forces the managers to bill back for things that they have not been doing in the past, when can cause the company to lose accounts. The managers...

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