Any incentive plan or bonus can help encourage the team to achieve the goals set per month or at the beginning of the performance cycle.
To help you create an incentive plan, please determine the following:
- Clear, consistent, measurable goals
- Calculation of the incentive scheme
- Amount/budget
- Length the incentive plan will run
- Payout schedule
- Monetary or in kind
Once these are determined, your Account Manager will help you draft an incentive plan guidelines which will then be explained to and acknowledged by the team.
You can also do a Spot Bonus to recognize and reward special contributions as they occur for a project or task. This is usually a one-time bonus that happens randomly.
Please note that all monetary bonuses, incentives and commissions are taxable.
MicroSourcing follows a payroll cut-off. Request for commission/bonus/incentives payout and salary adjustments should be sent to the Account Manager on or before these dates.
Every 2nd of each month for the payroll on the 15th
Every 17th of each month for the payroll on the 30th
If it falls on a weekend or holiday, the deadline is on the first working day after the holiday or weekend
These incentives, bonuses and commissions will be included in your invoice in the Reimursables tab.