1.0 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.
2.0 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.
3.0 Provisions
3.1. This incentive program will apply to all Regular Team Members of Infinit-O under JG 2 and below.
3.2. 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.
3.3. Rendering and Separated Team members will not be eligible for the incentive program.
3.4. This incentive program will be based on the following scores for the quarter:
3.4.1. Individual Performance
a. KPI / PTMS Scores
3.5. 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.
3.6. No retroactive calculations will be done once payment for the quarterly incentives is made.
3.7. A minimum of 80% of the individual performance of team members is required to be eligible for the incentive.
3.8. Percentage of incentives is calculated based on 100% Individual performance for the following Job Grades:
3.9. Team members who received DL, within the quarter of the incentive program, will be excluded from the incentive program.
3.10. Leaders will be responsible for updating the Individual Performance scores of their team members on a timely basis (monthly & quarterly).
3.11. 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.
3.12. Team members with Zero Individual Performance scores after the deadline will not be qualified for the incentive program.
4.0 Frequency
4.1. Quarterly
4.2. Incentive payout will be made observing the timeline below:
4.3. Sample Computation
5.0 Distribution
HR ER
Team Leader
Team members
Finance
6.0 Usage
6.1. Qualification is via the company's performance management system tools.
6.2. HR reviews and updates the incentive tracker.
6.3. The finalized incentive tracker is forwarded to finance for review, approval, and payment processing.