Under the Bonus Plan, our compensation committee, in its sole discretion, determines the performance goals applicable to awards, which goals may include, without limitation: attainment of research and development milestones, sales bookings, business divestitures and acquisitions, cash flow, cash position, earnings (which may include any calculation of earnings, including but not limited to earnings before interest and taxes, earnings before taxes, earnings before interest, taxes, depreciation and amortization and net earnings), earnings per share, net income, net profit, net sales, operating cash flow, operating expenses, operating income, operating margin, overhead or
other expense reduction, product defect measures, product release timelines, productivity, profit, return on assets, return on capital, return on equity, return on investment, return on sales, revenue, revenue growth, sales results, sales growth, stock price, time to market, total stockholder return, working capital, and individual objectives such as MBOs, peer reviews, or
other subjective or objective
criteria.
Because this is an implicit target for any climate model development and tuning, the selection of such
subjective criteria mimics a suite of models, which will be treated by
other modellers as suitable for climate studies.
As the result of the recent changing economic environment and increasingly competitive markets in which most law firms practice, Managing Partners and members of Management and Compensation Committees in the more successful law firms have identified and re-defined those objective and
subjective criteria that have been especially designed to motivate partners to attract new clients, proliferate work from existing clients, perform those fee producing and non-fee producing activities that are necessary to retain existing clients and recognize those partners who have been given responsibility for managing the performance of clients and client work that
other members of the firm have originated.
The old guard lawyer rating services have always had
subjective criteria that are not easily discernible
other than being a popularity contest, or worse, simply pay - to - play.
You can avoid the employee recognition traps that: single out one or a few employees who are mysteriously selected for the recognition; sap the morale of the many who failed to win, place, or even show; confuse people who meet the
criteria yet were not selected; or sought votes or
other personalized,
subjective criteria to determine winners.