FAQ About Incentives
What is an Incentive?
An incentive is a performance-based cash bonus of employees
What are the 2 parts of Incentives?
- Accuracy Incentives- this will be based on your monthly Audit Score that is being provided from the Quality Assurance Team. The Accuracy Scores tell how do you perform based on the given tasks in your account.
- Attendance Multiplier- this will be based on your monthly attendance
When do employees receive Incentives?
The employee will receive an incentive, if eligible, every 15th of the succeeding of the applicable month.
Example: For the month of April, the employee who is eligible for the incentives, will receive his incentives on May 15.
Who is eligible for Incentives?
Once the status of the employee is probationary, he will be eligible for the incentives.
There are three types of Probationary Employees:
- Core Reps but under training- these are the probationary employees who have account but still under training. These reps will receive half of the incentives since they are still under training and they are not being audit yet.
- Core Reps who do the process- these are the reps who have account and processing tasks given by the Client. They will be entitled to receive the full incentive amount, given they meet the requirements needed.
- Probationary Reps sent back to Simulation- these are the reps from a specific account that sent back to Simulation due to poor performance and client dissolution of account. Since the incentives are based on performance, reps that sent back to simulation will not receive incentives.
How Incentives are being calculated?
The Accuracy Incentives and Attendance Multiplier will be the source on the computation of the incentives. There will be a mechanics on how incentives are being computed.
What is Accuracy Score?
The employee's Accuracy Incentive will be based on the Accuracy Score he receives for the month.
The Accuracy Score will be in the form of percentage from 1-100%. This is based on your Monthly Processed Tasks that are being audited by the Quality Assurance Team.
The errors found in the processed tasks will have an impact on your Accuracy Score.
Example: Out of the 30 processed tasks, 1 error was found. The accuracy computation is shown below:
Accuracy Score: 1 Error/ 30 Audits = 0.03* 100%= 3.33
100% - 3.33= 96.67%
Accuracy Score is 96.67%
How will the Accuracy Score works in the Incentive Computation?
There will be a schedule table for the Accuracy Incentives. This is to know how much Accuracy Incentives that the employee will receive.
Below is the schedule for Accuracy Incentive:
Accuracy Score Accuracy Incentives Received
<90.00%- 0% of the Accuracy Incentives
90.50% to 94.00%- 30% of the Accuracy Incentives
94.50% to 97.00%- 70% of the Accuracy Incentives
97.50% to 100%- 100% of the Accuracy Incentives
Who qualifies for the incentives?
- The employee must have 85% of attendance percentage during the applicable month to be considered eligible for the incentives. Even if the employee has 100% accuracy score but has below 85% of attendance percentage, the whole incentive amount will be forfeited.
To know the attendance percentage, please see below example:
The employee has 1 day absent out of 22 total working days for the month of April.
1 day absent / 22 total working days = 0.045
0.045 * 100 = 4.55%
100%-4.55 %= 95.45- this is the attendance percentage of the employee for the month of April
- The employee must not have 5 or more than late punches during the applicable month. Even if the employee has 100% accuracy score and 100% attendance percentage but has 5 or more than late punches, the whole incentive amount will be forfeited.
Example: The employee clocked in late yesterday, that is considered as 1 late punch. Then, he clocked in late today, that is considered 2 late punches.
Please take note that the 5-minutes Grace Period shall apply
What is Attendance Multiplier?
The Attendance Multiplier will be based on the Monthly Attendance of the employee. This is additional bonus based on the attendance of the employee and the accuracy incentive received by the employee.
Please see the below:
If the attendance percentage is 92% and no more than 3 late punches, there will be additional 25% of whatever accuracy incentive that the employee will receive.
If the attendance percentage is 95% and no more than 1 late punch, there will be additional 40% of whatever accuracy incentive that the employee will receive.
If the attendance percentage is 100% and no late punches, there will be additional 50% of whatever accuracy incentive that the employee will receive.
What are the other Mechanics of the Incentives?
The Current Attendance Policy shall apply
- Grace Period - the employee has 5 mins. grace period per day to be considered as late punch.
- Approved Planned Leaves- Once the employee has an approved time off requests, his attendance percentage and incentives will not be affected.
- Unplanned Leaves and Tardiness- this will affect the attendance percentage of the employee and incentives.
- No Work Day as Determined by the Company/Client- If the Client did not require the employee to come to work, the attendance percentage and incentives will not be affected.
What are the criteria for ineligibility for the Incentives?
- 5 or more late punches
- Below 85% of Monthly Attendance Percentage
- Awol or NCNS
- Suspension, end of contract and termination during the applicable month
- Poor Feedback from the Client