💡 Policy Purpose
Our Employee Bonus Policy outlines the criteria for awarding bonuses, providing transparency and motivating employees to achieve exceptional performance. This policy ensures that bonuses are distributed fairly and in alignment with company objectives.
📝 Policy Elements
Eligibility:
- All full-time and part-time employees are eligible for bonuses, provided they meet the criteria outlined in this policy.
- All full-time and part-time employees are eligible for bonuses, provided they meet the criteria outlined in this policy.
Types of Bonuses:
- Performance Bonuses: Awarded based on individual or team performance metrics.
- Referral Bonuses: Given to employees who successfully refer new hires.
- Holiday Bonuses: Distributed annually as a goodwill gesture during the holiday season.
Performance Evaluation:
- Performance bonuses are based on objective criteria, such as achieving sales targets, completing projects, or meeting key performance indicators (KPIs).
- Performance bonuses are based on objective criteria, such as achieving sales targets, completing projects, or meeting key performance indicators (KPIs).
Bonus Calculation:
- Bonuses are calculated as a percentage of the employee’s base salary or a fixed amount, depending on the type of bonus and level of performance.
- Bonuses are calculated as a percentage of the employee’s base salary or a fixed amount, depending on the type of bonus and level of performance.
Disbursement:
- Bonuses are typically disbursed during the end-of-year payroll or at specific milestones as defined by the company.
- Bonuses are typically disbursed during the end-of-year payroll or at specific milestones as defined by the company.
Exceptions:
- Employees under disciplinary action or who have not met minimum performance standards may be excluded from receiving bonuses.
🤝 Acknowledgement and Compliance
By acknowledging this policy, employees understand the criteria and procedures for receiving bonuses and agree to strive for excellence in their work.