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The Management Incentive Program should not be paid if the performance thresholds cannot be met. When the bank is not performing well, extra benefits like compensation programs should be gone. The philosophy of TD bank is “pay for performance”. Paying out award for having worse than expect performance does not fit in the philosophy. Employees should understand that they are working as a team, not individually, so the performance of the bank matters. It is also very bad to keep changing policy standard. The inconsistency of policy will confuse employee further more. When a policy is set, it should be consistent, at least in the effective period. However, there will be some impacts by not paying out the award. The goal of the Management Incentive Program is to “recognize, reward, and retain key junior and middle Management employees who demonstrate above average performance and good potential.” It should be clear that if the employee is selected as a recipient, they are being recognized because of their exceptional performance.
Approximate Word count = 489
Approximate Pages = 2
(250 words per page double spaced)
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