The Consulting Space was engaged to design and deliver an employee bonus scheme to management and corporate executives within the Vikings Group. We started out by identifying and agreeing Key Performance Indicators for all staff involved, agreeing targets and measurement practices, and designing a variable payment structure which included profit share.
On approval from the Vikings board we launched a pilot scheme for the initial six months. The pilot served to test that the KPIs were driving the right behaviours and improving the company’s profit margin. The final version of the scheme was implemented in July 2013 and in the words of the CEO impacted ‘not only in the culture but also the bottom line of Vikings’ business’.