The Salary Review Studio includes a flexible Incentives and Bonus Scheme Manager enabling year round Incentive and Bonus Schemes.

The Incentive/Bonus Scheme Manager facilitates the all forms of Short Term Incentive and Bonus Schemes through the year.  The flexible Incentive/Bonus Scheme Builder allows for the most simple of Bonus Schemes through to complex Incentive Plans.

 

When establishing a Scheme, the scheme can run for a specified Date Range and when an Employee have not been active for the entire duration of the Scheme the Incentive Manager can be configured to automatically pro-rata the Employees Target Incentive value by either completed Months within the Incentive Period or number of Days.

When setting the Target Indicators on which the payout of the Incentive will be based, certain Target Indicators can be set as 'Global Indicators' where the result is set at a Global level and not by the Manager.  This may well be the case for EBIT Results where the Company's final End of Year Financial result is set at a Group level and automatically applied to all Employee's whose Incentive Scheme has the EBIT result as one of the factors.

There is also the ability to apply varying weightings to each of the contributing Target Results where the EBIT result may carry a 75% weighting in terms of what portion of the Incentive to payout whereas Personal Performance may only carry a 25% weighting.

Multiple profiles can be created with the single Incentive Scheme where some Employees have a 75/25 split and others have a 50/50 split whilst some may have 100% based on personal performance.

 

The same design fundamentals are used for the Incentive and Bonus Manager that are found in the Salary Review Studio©  which are :

  • Provide a standard method performing the Bonus and Incentive process
  • Be simple to use by the end user
  • Expedite the Incentive and Bonus Scheme through on-line access
  • Enable on-line tracking of the Incentive/Bonus Process
  • Draw on information held within existing HRIS systems

Benefits that the Incentive and Bonus Manager system provides :

  • A standard Incentive and Bonus Scheme Process and consistent delivery
  • Control over the quality of Reviews through exception highlights and warnings
  • Professional and easy to use presentation
  • Easily adapted on site for specific requirements
  • On-line access to previous Incentive and Bonus Details