Most organizations aim to provide a bonus scheme that is more complex than a flat percentage of company profit. Pitching this to motivate high performance across the workforce is critical to business success.
The bonus scheme must be transparent and fairly administered. It must comply with corporate guidelines and external regulations – in sectors like banking, there are punitive penalties for getting this wrong.
The calculation and payment process is not as complex as for sales commission in most cases, but flexibility, automation and enablement are still vital to deliver a trusted scheme that acts positively to drive business performance. Predictive modelling and simulations are powerful tools to customize and optimize your bonus scheme.