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Short-Term Incentive Plan. The objective of an STIP is to reward key employees for their individual contribution for achieving the company's short-term business strategies and goals set by the compensation committee to increase the company's profitability.
Every employer has their own qualifications as to how an employee becomes eligible for the LTIP. Generally all employees are eligible to receive the benefits after three to five years as long as they meet the performance goals specified by the company.
Long-term incentives, or LTI as they're often called, are a valuable part of a total compensation package both for delivering rewards and focusing employees on desired future outcomes and objectives.
Long-Term Incentives (LTIs) are a form of variable compensation that is earned in the present but whose payment is deferred and spread over time. This can be cash compensation but often is in the form of stock or stock options.
LTI compensation is Long Term Incentive compensation, a form of variable compensation that an employee earns in the present but which payment comes later and is normally spread out over time.
LTI are typically granted with what is known as a vesting period. What this means is that grantees are conditionally granted equity, but they do not actually own it until the vesting period expires.