Short Term Variable Remuneration (STVR)
An alternative term for Short-Term Incentive (STI). A common term used in banking and insurance companies. The emphasis is “variability” with results, rather than an incentive to achieve specific results. A payment that varies with performance for a period of 12 months or less. Performance is usually assessed over a 12-month financial year, although could be for a day, month, quarter or half year. It varies payment with the extent of achievement of specific financial, operational, or strategic requirements (often termed Key Performance Indicators (KPIs)).
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