BonusRight enables you to not just build a more successful incentive plan but also make sure it is understood and effectively promoted. The tool helps you with every aspect of bonus plan communication. From employee rollout materials to participant payout reports—and everything in between—you will have all you need to make performance expectations and bonus values clear and compelling. Quite simply, BonusRight helps you build a more unified financial vision for growing your business.

Eight interactive reports will help you meet the following five specific purposes.

PURPOSE 1

Get final approval for your plan

Do you want something that helps you discuss and finalize plan details in your leadership meeting? No problem. There are two reports that will help you.

Design Detail

The Design Detail will list and summarize the bonus opportunity for everyone in the company. You’ll have the chance to compare their values with last year’s payouts and examine each person’s bonus within the context of the full plan.

Executive Summary

The Executive Summary will present a high-level view of the plan budget, funding metrics, and grade-by-grade values. You’ll have a concise but crucial tool for evaluating the total financial commitment of your proposed program.

PURPOSE 2

Communicate to your team

Is it time to explain the plan to your employees? Or would you like to provide an overview to the management team first? It's all here.

Plan Summary

The Plan Summary provides an overview of how the plan operates, including examples. This universal report is suitable for distribution to all plan participants.

Employee Detail

The Employee Detail is an individual one-page explanation of each participant’s plan specifics. This should be delivered to each person at the outset of the plan year so that they can learn what results will maximize their bonus opportunity.

Manager’s Overview

The Manager’s Overview is the perfect tool for a group presentation about your new plan. It downloads to a PowerPoint template for training managers; or use it for the entire team.

PURPOSE 3

Check your plan during the year

Want to get a sense of how your bonus pool is trending based on performance "so far?" Want to motivate employees by apprising them to how close they're getting to a maximum payout under their plan?

Status Report

The Status Report provides the perfect tool to forecast your bonus anytime you want during the plan year. What will our bonus pool be if we continue on our current pace? What if things improve during the last quarter? This report gives your financial team the perfect forecasting tool.

In addition, an Employee Update report allows you to inform participants what their bonus may be based on current performance. This report is created for each employee so they can anticipate how year-to-date performance could affect their final year-end bonus.

PURPOSE 4

Evaluate and communicate final plan values

Ready to determine the final bonus pool and communicate incentive payouts to employees?

Employee Update

At the end of the plan period you can use the Status Report and Employee Update to complete your plan evaluation and then provide “final statements” for employees. Participants will be able to see their final bonus value and how it was determined.

PURPOSE 5

Send your final bonus values to payroll

Ready to notify Payroll to send bonus payments to participants?

Bonus Payments

The Bonus Payments report will be your final tool each year. Once all bonuses are set, you can produce this report and send it to payroll to cut the checks.

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