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Started By
Message
What kind of bonus is fair?
Posted on 4/23/17 at 10:10 am
Posted on 4/23/17 at 10:10 am
Let's say I come up with a process that saves the company $xx,xxx of labor every year.
Should it be a percentage of what we save in year 1 or a percentage of a longer term factor?
I just want to know what kind of number I should be looking for.
Should it be a percentage of what we save in year 1 or a percentage of a longer term factor?
I just want to know what kind of number I should be looking for.
10
Posted on 4/23/17 at 10:38 am to southernelite
that's awesome and while i hope the best for you i seriously doubt you get anything higher than a very small percentage. how much savings are you talking about here(percentage)?
how big is your company?
how big is your company?
Posted on 4/23/17 at 11:11 am to PerceivedReality
quote:
how much savings are you talking about here(percentage)?
Could potentially be 25% of my yearly man-hours. And a smaller saving across 2 other positions that review my work.
Incentives have been discussed, but no hard numbers.
Our company is small in terms of manpower, but we manage a pretty large portfolio.
Posted on 4/23/17 at 11:12 am to southernelite
Some amount already layed out in the current company policy
Posted on 4/23/17 at 11:33 am to southernelite
None. Ask for a higher salary and bonus % when it comes up.
Posted on 4/23/17 at 11:50 am to southernelite
At minimum, you should be paid the entire first year savings.
Posted on 4/23/17 at 12:14 pm to southernelite
Is the process you came up with outside the scope of your job duties?
Posted on 4/23/17 at 12:23 pm to I Love Bama
Why would the company do that? They wouldn't be saving a penny so what's the point?
Posted on 4/23/17 at 12:34 pm to iAmBatman
Year 1 they pay it and reap the benefits for the rest of the company's life. It's actually very common so I'm not sure why I am being downvoted.
Posted on 4/23/17 at 12:40 pm to southernelite
quote:
What kind of bonus is fair?
honestly, zero.
1. This sounds like an incredibly small amount of money
2. You usually get bonus' for bringing in extra revenue, not saving cost.
Posted on 4/23/17 at 12:40 pm to I Love Bama
quote:
Year 1 they pay it and reap the benefits for the rest of the company's life. It's actually very common so I'm not sure why I am being downvoted.
In what industry is this commonplace that an employee gets that?
Posted on 4/23/17 at 12:56 pm to barry
This is what I'm trying to figure out
Posted on 4/23/17 at 1:12 pm to SippyCup
quote:
Is the process you came up with outside the scope of your job duties?
My job is the process. It wasn't expected of me to improve this process.
We decided recently to revamp our reporting package, which due to the extra burden of that, an incentive package is being developed for that piece, but not yet in place. This is separate from that rollout, and I expect that a bonus will be due me for this piece in addition to everything else.
We aren't an operating company, so there isn't really much process-wise we can do to improve revenue, rendering that irrelevant.
Posted on 4/23/17 at 1:20 pm to I Love Bama
For doing his job?
Posted on 4/23/17 at 1:23 pm to southernelite
So a commission on reducing expenses?
Posted on 4/23/17 at 1:25 pm to yellowfin
You could put it like that, yes.
Posted on 4/23/17 at 1:30 pm to southernelite
quote:
My job is the process.
quote:
Could potentially be 25% of my yearly man-hours
Sounds to me they should be cutting your hours.
Posted on 4/23/17 at 1:31 pm to southernelite
If one of my employees improved a process that saved about 500 manhours a year, I'd thank them and potentially give them a good annual review which results in a bigger bonus and better salary bump. I would not give them a percentage of the savings.
Posted on 4/23/17 at 1:38 pm to lnomm34
quote:
Sounds to me they should be cutting your hours. ?
Still more than enough for me to do. I don't expect to be in this role too much longer. 18 months max.
Posted on 4/23/17 at 1:38 pm to birdieman
This is your job. You already get paid to do these things and this is just you performing at the top of the bell curve which should reflected in your annual rating and your pay increases associated with said rating.
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