Hi All
We are reviewing our bonus policy, in particular for FTC colleagues. For receipt of our bonus, colleagues must be employed and not under notice on the payment date. However, this means due to the nature of an FTC, they may not be employed at payment date and miss out on payment.
Is anyone willing to share how they approach/apply bonus payments to FTC colleagues please.
Many thanks
We run a separate FTC bonus scheme that they are eligible for. Payment made on completion of FTC and subject to meeting the specific targets of the role.
A challenge our HR often row into is in putting our FTCs into the global management bonus plan...then realising that we cannot calculate the bonus (because of the associated financial targets) and in any case the plan rules specifically say folk must be employed at point of payment.
For permanent employees we have the same rule that employees must be employed on the payment date. However, for the reason you describe, for an FTC we pay bonus if they work to the end of their contract. No bonus is paid if they voluntarily terminate earlier.
Hi Marissa. I would suggest that, provided the employee has worked up to the end of their FTC, they should be entitled to and paid a bonus even if they aren't there on payment date. I would say they would be classed as a good leaver.