CPP-HR 0213 Quarterly Leaders Incentive V3

CPP-HR 0213 Quarterly Leaders Incentive V3

Version  

Approval Date

Author  

Changes  

Approved by  

2


C. Delfin

  • 3.6

R. Tan





R. Ong

3


G. Orbon

  • 3.5

R. Tan


  1. Objective


The Quarterly Team Leaders Incentive is part of Infinit-O’s Rewards and Recognitions program that aims to give incentives to leaders based on their performance per quarter. This program has replaced the annual bonus for team leaders.


  1. Scope


This program shall apply to all Infinit-O leaders within the Job Grade 3 and up category.  


  1. Provisions


  1. For a leader to qualify for this program, he/she must be a regular employee.  

  2. Promoted / Regularized leaders within the quarter will be included and apply a prorated calculation of the incentives. 

  3. Separated or Rendering leaders before the release of the incentive will not be eligible for the incentive program. 

  4. The deadline for updating the Individual Performance of TMs will be every 20th day of the month after the quarter's end using the Performance Management System (PMS).

  5. Leaders with Zero PMS or below 3 rating will not qualify for the incentive.  

  6. The incentives will be calculated based on the salary on the last day of the quarter. Salary changes, approved by the management/client, after the last day of the quarter will not be used even if effective dates are retroactive.


Q1 Salary

KPI score

Company Performance

Individual Payout


  1. No retroactive calculations will be done once payment for the quarterly incentives is made. 

  2. Leaders who received DL, within the quarter of the incentive program, will be excluded from the incentive program based on the type of DL issued and the degree of sanction received (based on updated TOO).

  3. The following Sanctions will merit automatic exclusion from the incentive program:

  • Dismissal 

  • Final Warning 

  1. Percentage of incentives is calculated based on 50% Individual and 50% Company performance for the following Job Grades: 



Job Grade

Individual Performance

Company Performance

Total

JG 3

5%

5%

10%

JG 4

7.5%

7.5%

15%

JG 5

10%

10%

20%

JG 6

12.5%

12.5%

25%


  1. Responsibility

 

  1. Managers are responsible for providing KPI scores of their direct reports every quarter using the PMS system.

  2. HR-ER Team is responsible for consolidating and updating the tracker used for calculating the incentives. 

  3. HR-ER Team is responsible for sending Letters to newly regularized/promoted leaders regarding this incentive program. 

  4. Finance is responsible for sharing the Company Scores. Finance is responsible for checking the accuracy of the tracker and crediting the incentive. 

    1. Sample computation: 



Your 2022 base salary (inclusive of De minimis):

₱ 31,079.43

Your quarterly Incentive percentage:

10%

Your estimated quarterly variable (assuming both you and the company reach  100% on the KPI scores):

₱ 9,323.83

2022 Annualized Base Salary (13 months):

₱ 404,032.59

2022 Annualized variable:

₱ 37,295.32

2022 Total Compensation (Base salary and variable):

₱ 441,327.91


  1. Frequency 


Quarterly 

Incentive to be credited based on the following timeline: 


QUARTER

VALIDATION

PAYOUT

Q1

APR

MAY 5 PAYOUT  

Q2

JULY

AUG 5 PAYOUT  

Q3

OCT

NOV 5 PAYOUT

Q4

JAN

FEB 5 PAYOUT


  1. Distribution 


HR ER 

Team Leader 

Finance 


  1. Usage   


Qualification is via the company's performance management system tools.

HR reviews and updates the incentive tracker. 

Finalized incentive tracker is forwarded to finance for review, approval, and payment processing. 


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