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  "STAKEHOLDERS" Implementation Process

One of the advantages of STAKEHOLDERS is the speed in which it can be implemented.  A typical engagement will take only two or three days.  Only one day is required if installing just an organization-wide model.  The rest of the implementation is an ongoing process of managing performance during the entire year.  At the end of the year, the process is repeated. 

The four step process of Build, Report, Coach and Reward is detailed below.

Build: The objective of the Build phase is to develop the reward program for the year, including a preliminary budget.
 

  1. PRELIMINARY DATA REQUEST: Client submits data request that includes information about prior year financial performance, strategic priorities for upcoming year and details of existing reward programs.
     
  2. BUILD PRELIMINARY PLAN: Client works directly with MHA consultant to build preliminary compensation model(s) and budget for the year. Software training and review of coaching materials is completed as well.

    Estimated Time Requirement: 1-3 Days (Based upon number of models)

    Participants: CEO and/or CFO, other key personnel as desired.

    In subsequent years, client may engage MHA consultant on an as needed basis to build preliminary models and budget.
     
  3. FINALIZE PLAN: Client reviews preliminary compensation model(s) and budget then makes necessary adjustments to finalize for board approval. Client often schedules conference call with MHA for a final review before introduction to employees.
     
  4. INTRODUCE PLAN: Client uses materials provided by MHA to assist in introduction of plan to employees.
Report: The objective of the Report phase is to collect data and produce monthly management, coaching and board reports.
 

  1. MONTHLY DATA REQUEST: Client submits monthly performance data to MHA via e-mail.
     
  2. GENERATE PERFORMANCE REPORT: MHA generates performance report and sends to client via e-mail. Report turnaround time is one business day.

    This two-step process is repeated every month.
Coach: The objective of the Coach phase is to communicate results, make adjustments and take advantage of opportunities.
 

  1. MONTHLY STATUS REPORT MEETING: Client uses monthly performance report and coaching materials provided by MHA to conduct coaching meetings with employees.

    The monthly coaching meeting serves two primary purposes. One is to communicate performance results. The other is to develop action plans and tactics to improve performance and take advantage of opportunities.

    Estimated Time Requirement: 30 to 60 Minutes per Meeting.

    At scheduled times during the year, MHA provides a Certified Coaching program that clients can send representatives to in order to improve their knowledge of STAKEHOLDERS and learn about coaching techniques.
Reward: The objective of the Reward phase is to distribute bonuses based upon actual performance.
 

  1. DISTRIBUTE REWARDS: Based upon performance for the year, client distributes rewards to employees.

    As an option to clients, MHA can administer a periodic Payout Certificate that communicates the projected reward on an individualized basis (see example below).
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