Performance Linked Bonus (Pay-for-performance)

Pay for performance is used by many leading companies as a performance driver. Calculation and compilation of this component of remuneration (often called PLB) is a time consuming and complex task that requires collossal effort by the HR. Performance Linked Bonus module automates the management process based on the allocated budgets .

Features

• This module facilitates setting up of performance indicators and their measurements.
• Provides a number of pre-defined measures to assist in setting up of performance indicators and allows addition of new measures.
• Provides a mechanism to create performance sheets for each employee or target group (team).
• Sends messages to employees to view their variable pay performance targets.
• Allows input of achievements for each performance indicator. Calculates employee score based on the performance sheets.
• Can integrate with appraisal scores, employee attendance, training, and other employee related issues which may impact performance pay.
• Automatically calculates performance bonus for each employee
• Enables export of the bonus details into the payroll software. If EmpXtrack Payroll is used, the PLB details are transferred on approval automatically.
• Provides management reports & a tool for on-line analysis of financial impact.

Integration with other modules

Performance Linked Bonus integrates with Payroll, HRIS and eAppraisal modules of EmpXtrack.