CPP-HR 0214 Quarterly Team Members Incentive V4

CPP-HR 0214 Quarterly Team Members Incentive V4

Version  

Approval Date

Author  

Changes  

Approved by  

2


C. Delfin

  • 3.6

  • 6.0

R. Tan

3

Nov 7, 2024

C. Delfin

  • 3.7

R. Ong





R. Tan

4


G. Orbon

  • 3.7

R. Tan


  1. Objective


The Quarterly Team Members Incentive is part of Infinit-O’s Rewards and Recognitions program that aims to give incentives to members based on their performance per quarter. 


  1. Scope


This policy is effective starting April 1, 2023. All team members under Job Grade (JG) 2 and below will move to a Quarterly incentive scheme.


  1. Provisions


  1. This incentive program will apply to all Regular Team Members of Infinit-O under JG 2 and below.

  2. Newly Regularized Team members within the quarter will be eligible to receive the quarterly incentive on a pro-rated basis based on the date of regularization.

  3. Rendering and Separated Team members before the release of the incentive will not be eligible for the incentive program. 

  4. This incentive program will be based on the following scores for the quarter:

  • Individual Performance 

  • KPI / PTMS Scores

  1. 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

2.5%

Individual Payout


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

  2. Team members must achieve a minimum individual performance rating of 3 to be eligible for the incentive.

  3. Percentage of incentives is calculated based on 100% Individual performance for the following Job Grades:


Job Grade

Individual Performance

Total

JG 1 and JG 2

2.5%

2.5%


  1. Team members who received DL, within the quarter of the incentive program, will be excluded from the incentive program.

  2. Leaders will be responsible for updating the Individual Performance scores of their team members on a timely basis (monthly & quarterly).

  3. The deadline for updating the Individual Performance of Team members will be every 20th day of the month after the quarter's end using the Performance Management System.

  4. Team members with Zero Individual Performance scores after the deadline will not be qualified for the incentive program.


  1. Frequency


Quarterly

Incentive payout will be made observing the timeline below:



Quarter

Validation

Payout

Q1

APR

May 5 Payout

Q2

JULY

Aug 5 Payout

Q3

OCT

Nov 5 Payout

Q4

JAN

Feb 5 Payout


4.3.      Sample Computation


Your 2023 base salary (inclusive of De minimis):

₱ 25,000.00

Your quarterly Incentive percentage:

2.5%

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

₱1,875.00

2022 Annualized Base Salary (13 months):

₱ 325,000.00

2022 Annualized variable:

₱ 7,500.00

2022 Total Compensation (Base salary and variable):

₱ 332,500.00


  1. Distribution


HR ER  

Team Leader 

Team members

Finance

 

  1. Usage  


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

  2. HR reviews and updates the incentive tracker. 

  3. The finalized incentive tracker is forwarded to finance for review, approval, and payment processing.


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