Incentive Policy & Process – Corporate Employees


Incentive Policy – Corporate Employees
 
KPI, Key Performance Indicators, help a team, to focus on important factors for success of the department. KPIs give management actionable data, which can be used to track progress of the employee’s task.
 
KPI Creation Process & Timeliness 
 
KPI is created on quarterly basis. 
 
For Existing Employees
– KPI is to be created for the new quarter by 5th of the first month of that quarter
– In few cases, KPI’s can be defined monthly, depending on project/departmental requirements by 5th of
that month
– In case of KPI’s needs to be created monthly, one time approval from Vertical Head needs to be shared
with the HR
 
For New Joiners
– KPI needs to be created within 7 days of joining

-If the DOJ is on or before 15th of the month, KPI is created for that month along with rest of the months of that quarter
– If the DOJ is after 15th, KPI is not created for that month and is created for the rest of the months of that quarter

KPI Rating and Variable Payment : 
 
– Employees should submit the KPI result along with supporting to Reporting Head by or before date defined by HR 
– 1st level Manager verifies the approved rating
– 2nd level Manager shall verify & approve before 20th of the first month of the new quarter for the results of the last quarter. 
– The payment will be credited along with the salary of the first month of the new quarter for the result of the last quarter 
 
There are two main categories to be considered under the Rating and Variable payment:
 
Existing Employees
 
– In case of any existing employees, wherein the KPI’s are defined monthly on account of any project/departmental specific requirement, the result calculation & incentive payment shall be done monthly.
– In few cases, where the KPI’s are dependent on the client’s input or profitability, then the KPI results are added as per the inputs received and accordingly the incentives are disbursed. 
 
Employees in Notice period
– KPI’s approval & payment will be made on pro-rate basis.