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BONUS QUESTIONS ANSWERED.


BONUS QUESTIONS ANSWERED - GE

IS THERE A FORMALISED UPDATE TO THE COMMISSION AND SALES TARGETS: EARNINGS GOING FORWARD?

The actual calculation of bonuses will remain the same date. Therefore, all current bonus calculators will be ac that is changing.

IF SOMEONE BILLED £300K LAST YEAR AND 80% OF THOSE REBATE PASSED, WOULD THEY GET A BONUS PAID IN MARC TOPPED UP AS AND WHEN THE MONEY IS COLLECTED AND

Yes. The calculation of the bonus to trigger the £300k bon the £300k will be audited to ensure that the candidate ha the invoice. On placements that have not matched the pa will be held back until the criteria is matched and then re

WILL THERE BE A SPREADSHEET FOR EACH CONSULTANT T INCLUDED? SALES TARGETS:

NON SALES TARGE

Finance will be keeping a live schedule of all placement’s; The schedule will be shared in the second week and the f to the bank.


ENERAL.

D BONUS SCHEME SO WE CAN CALCULATE OUR OWN

e, deals will continue to be recognised on placement ccurate. It is the timing of the release in payment

E PLACEMENTS HAVE HAD THE CASH COLLECTED AND CH ON THAT 80% WITH THE REMAINDER GETTING THE REBATE IS COMPLETED?

nus level will remain the same. All deals that make up as passed the rebate period and the client has paid ayment criteria, the bonus linked to that placement eleased in the next payroll cycle.

TO TRACK DEALS WITH REBATE AND PAYMENT TERMS

ETS: ; we will share this with the business twice monthly.

fourth week of the month, just before salaries are sent


BONUS QUESTIONS ANSWERED - GE

PREVIOUSLY IT WAS STRAIGHT FORWARD TO CALCULATE C

SALES TARGETS:

The calculation of bonuses remains the same. We will l and the new live placement schedule to create a live bo have not matched the criteria and a running total of he this. It will take some time and complex modelling to g

IS THE PLAN TO PERMANENTLY MOVE TO THIS MODEL? It is not our plan to stay on this model permanently.

IF NOT, DO YOU PLAN TO CHANGE BACK BEFORE THE END O SITUATION SHOULD HAVE PASSED?

We will continue to monitor the current situation along w decisions on bonus schemes basedTARGETS: on these evaluations SALES

NON SALES TARGETS: WHAT IS THE PLAN FOR HOW WILL WE CONTROL/COMMUNI

Finance will issue a monthly statement to everyone in t

HOW DO WE KNOW WHAT DEALS HAVE BEEN PAID AND ARE

The monthly statements will have a full breakdown and those deals.


ENERAL.

COMMISSION/BONUSES, NOW IT IS VERY COMPLICATED.

look at how we can combine the bonus calculators onus calculator. This schedule will include deals that eld back bonuses. You will need to bear with us on get this up and running.

OF THIS YEAR, WHEN THE WORST OF THE CURRENT

with the working capital of the business and make s.

NICATE TO BONUSES TO PEOPLE?

the business.

E THROUGH REBATE AND WHICH ONES AREN’T?

d analysis of deals and the payment/rebate status of

SALES TARGETS:


BONUS QUESTIONS ANSWERED - GE

HOW WILL WE COMMUNICATE THE ‘PORTIONING’ OF BONUS The monthly statements will cover this.

WILL WE BE RESPONSIBLE FOR TRACKING ONCE INVOICES FINANCE DO THIS FOR US?

Finance will do all the tracking and report this to the busin SALES TARGETS: consultant bonus payment statements.

NON SALES TARGE

HOW IS IT GOING TO WORK FOR THE END OF MARCH TOP U ARE THESE STILL TO GO AHEAD AND PAID IN MARCH IF THE

Provided the client has paid all 2019 placements and t will be paid in full in the March salary run.

IS IT GOING TO TAKE SOME TIME FOR THE FINANCE TEAM T PAYING THEM? The finance team have now produced this data and I will business this week.


ENERAL.

SES?

S HAVE BEEN PAID AND THE REBATE IS OVER OR WILL

ness by way of twice-monthly schedule and

ETS:

UP AND PERFORMANCE-RELATED KICKER BONUSES? E CLIENTS HAVE PAID ALL 2019 PLACEMENTS?

the candidate has passed the probation, bonuses

TO PUT TOGETHER AN AUDIT OF ALL DEALS, BEFORE be reviewing it before issuing the statements to the


EXEC BONUSES | BONUS QUESTIONS

HOW SOON WILL WE KNOW EXACTLY WHAT WE ARE BEING

Finance have been working around the clock on producin you all on Thursday (26th March).

HOW WILL THE OUTSTANDING BONUS BALANCES BE PAID?

All bonuses that subsequently match the payment criteri

HOW WILL YOU DECIDE IF WE ARE OVER THETARGETS: THRESHOLDS SALES ETC? NON SALES TARGE The thresholds are hit in the same manner as before -

ARE YOU PLANNING TO STAGGER BONUS/COMMISSION IN AFTER 4 WEEKS, 50% AFTER 8 WEEKS ETC? No. We simply do not have the resource to monitor and


S ANSWERED.

G PAID IN OUR MARCH BONUSES?

ng these. We expect to be able to share these with

?

ia will be paid in the following payroll cycle.

S E.G. £280K/£300K HAS BEEN PAID OR £320K/£350K

ETS: recognition of deal on placement date.

LINE WITH AGREED REBATE PERIODS – E.G. 25% run a model in this way.


MONTHLY COMMISSION | BONUS QUES SALES TARGETS:

ARE YOU STILL SPLITTING THE MONTHLY COMMISSION OVER T

Yes. The monthly commission will still be calculated on the

HOW ARE YOU GOING TO CALCULATE MONTHLY COMMISSION? REBATE EXPIRED, IS THERE ANY NEED TO SPLIT IT, OR HAVE A

The calculation of the bonus remains on the same basis (pla is changing.

IF YOU ARE STICKING TO THE 5/15% LEVEL, IS IT GOING TO TA WAITING 6-9 MONTHS FOR A DEAL TO COUNT?

There should be no difference in the ability to get 15%, the re remains the same.

IF I MAKE A PLACEMENT NOW, IT’S A 3-MONTH NOTICE THEN A WOULD PAY OUT ON IT IN JANUARY? SALES TARGETS:

NON SALESlong TARGE In the cases where the candidate has exceptionally reba line with the rebate terms, provided the client has paid the in

AS WE ARE NOW GOING TO BE PAID COMMISSION ONCE INVOI BASE MONTH BY MONTH, WILL THERE BE A FIXED % WHICH C

The calculation and the %’s of the bonus being paid will re released is subject to the recent changes.


STIONS ANSWERED

TWO MONTHS?

e same basis.

IF WE ARE WAITING UNTIL IT’S BEEN PAID AND MONTHLY THRESHOLD AT ALL?

acement date) it is only the release of the payment that

AKE FOREVER TO GET TO 15% EACH YEAR IF YOU ARE

ecognition of the deal which triggers this calculation

A SIX-MONTH PROBATION, DOES THAT MEAN YOU

ETS: ate periods, we may look at a sliding scale of bonus in nvoice.

ICES ARE PAID AND NO LONGER ACCRUE ALONG WITH COMMISSION WILL BE BASED OFF? I.E. 15 OR 33%?

emain the same. Only the timing of the bonus being

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Bonus Questions Answered  

Bonus Questions Answered