Welcome to the 30-day free client BalancedRewards trial! This system will automatically turn off on June 1, 2023, unless you contact a consultant to set up a full demonstration and request an extension.
- You may want to set up some additional goals in the Corporate or Department Goal Library. Note achievement levels impact the percentage of payout the recipient receives. The Motivational Theory states that people are motivated by reward, but also by fear of loss. At level 7, the recipient receives 100% of the payout. At level 4, the recipient would receive 0% of the weight of the goal towards payout and an even lower performance would result in a negative impact on the total payout, thus balancing the reward. Level 8 is the Stretch Goal which pays at 150%. All of these percentages are adjustable.
- You can click on a Position to apply and weigh your created goals. The next step would be to apply the goals to a position or group of positions using the filters at the top. We have done this for you in this trial, but you can feel free to change the goals. Finally, you will want to notice how the Target Payouts are established from the Employee page by clicking the group of employees and then clicking on the action button at the top and scrolling to set your Target Percentage. You will not want to click on Activate Employees, as this is only a sample system, and your employees will receive an email notifying them that they are eligible to participate in a corporate bonus program.
- Once you have made all the desired changes, you can view how much this bonus program would cost the company if all goals were accomplished at 100% by clicking on Reports on the sidebar and selecting Potential Cost Reports. You could update Achievement Levels regularly and employees will see how much it appears their payout will be based on current success levels. This is also motivational. Once activated, employees can log in and see the progress made and the level of payout that appears to be targeted or left “on the table.” Plans can be designed as simple or as complex as your company desires.
- Currently, we have set up some sample Corporate results that have been applied to all Executive positions for a weight of 100%. Non-exempt and Exempt positions have been set up using their Performance Review Score as worth 50% of the weighting with two Corporate Goals receiving the balance of 50%. To avoid creating an expensive entitlement program, you do not want Outstanding performers and Average performers to receive the same bonus percentage.
We are so pleased to show you our third software that completes our suite of applications that help you create a pay-for-performance culture. Please contact your preferred Consultant to request a one-on-one demonstration!
- Christie's upcoming BalancedRewards group webinar demo schedule
- To book a personal BalancedRewards system demo: