Getting A Bonus? “Telltale” Signs That You Are Not Getting the Full Benefits of Your Bonus.admin
Bonus time is always exciting for those who are fortunate enough to get one. People line up to get into the manager’s office to find out if they have secured their bonus.
Below are some of the “telltale” signs to take note of ensuring you are not being misled during bonus time;
- You Don’t Know What to Expect
- Knowledge on whether or not you are getting a bonus and how much you are getting should be upfront and authentic. This is because these expectations should be defined honestly when doing your performance contracting phase. You should know the following:
a. Your company scorecard and the target you need to hit in order for you to qualify for the bonus as well as the bonus threshold
b. Your departmental scorecard and the target you are required to hit so that you are able to qualify for the bonus and the bonus threshold and
c. Your individual scorecard as well as the target for you to qualify for the bonus and the bonus threshold
If you do not know of or have not heard of any of the above, then there is a high possibility you have been fed the incorrect information with regards to bonuses.
The Bonus Calculation
- Your manager should be able to communicate to you on how your bonus is being calculated. If he or she cannot explain this then you may need to investigate further.
- If your bonus is not calculated using a transparent software or system and people in finance are talking about v-lookups and formulae you don’t understand, you might want to consider that you may have been misled during this time. Organisations that avoid transparency often do not believe in automating the bonus allocation process
No Clear Policy
- If you have never heard or been trained on the organisation’s bonus and rewards policy there is a chance that your manager may have been dishonest with you about what to expect during bonus time.
- The Bonus Is Tied To An Individual And Not To A Role
- If your bonus is not clearly linked to a specific job role, then you may need to question, “Why not?”. Why should a bonus be tied to an individual? That would mean every time someone resigns or is let go, HR must come up with a new bonus amount. This does not make sense and you would need to explore this further.