Performance related pay
Wages are the single largest cost for many sporting organisations. Our sports business specialists provide advice and assistance to management to implement a robust performance related pay framework, that both appropriately rewards success and also protects the finances if sporting results are not as good as expected.
The new framework can provide greater financial incentives to players, enable an organisation to have a competitive advantage (for example, in the football player transfer market) and encourage a ‘one team’ mentality by aligning performance related pay structures across different employee categories.
Our approach can be tailored to each sporting organisation’s needs. Elements of our methodology include:
- benchmarks and experience of performance related pay structures of other sporting organisations;
- an independent and objective review of the current situation, including consultations within the organisation (executive management, team management, players, other staff);
- financial analysis of sporting success (and failure) scenarios and determination of appropriate levels of staff costs and profitability; and
- workable, practical and financially justified solutions. We will provide detailed recommendations for implementation, in terms of trigger events, timing and financial quantum by competition.