Summary

Bonuses are:

• Performance or incentive lump sum payments paid in addition  to an employee’s salary
• Part of an at risk component of an employee's salary

They can be awarded at any time or interval and can relate to organisational or employee performance.

At-risk salary component

Some organisations negotiate an at-risk component of 40% of a Remuneration Package. Rules apply to the package. The size of a bonus payment can depend on the achievement of performance objectives. A bonus of 40% could represent the maximum that employees could receive if they reach all their targets.

Employee Package Bonuses

When a bonus makes up part of an employee remuneration package, PayGlobal records it in the Employee Packages - Bonuses tab page. To reach this tab page, navigate to:

Employees | HR | Remun Details | Remuneration Packages tab | Add or Edit | Bonuses tab

Scheme Types

In PayGlobal, employees are grouped into Scheme Types. Bonuses are paid out according to the rules of the employee's Scheme Type. An employee can belong to more than one Scheme Type.

Recording Bonus issues

Use the Employee Bonuses form to record the details of a bonus issued to an employee. To reach this form, click an additional Add or Edit.

Fields

Start and End dates:

The date range for the bonus issue.

Amount:

The amount of the bonus.

Approved date:

The date the bonus was approved for payment.

Open:

• Yes

  Indicates a current bonus period.

• No

  When the bonus period has ended, update this field to No for all employees receiving a bonus.

At the end of a bonus period, use the modelling function to quickly update the Open field to No for all employees.

Bonus Scheme Type Code:

Bonus payment schemes such as the 40% bonus remuneration package outlined above.