Hi my manager told me that the bonus decisions are made by HR - they have their own policies..
I got an overall year end rating of 2/2/3..wondering how that will look for bonus time.. I have not been going into the office regularly too some weeks i go in twice some weeks i go in once, some weeks i go 3x..
will that affect my bonus?
Why $322.55 ? Why not $666 ? Or some other unlucky number ?
They will pull your attendance record and for every week you missed coming in three days, $322.55 will be deducted from the bonus you (would have) earned. 🤣🤣
HR doesn’t decide bonus. They design policies along with comp what ratings can get how much bump in salary and bonus. But ultimately the bonus pool given to MD is further subdivided to Ds who have discretion to move around . Steal from Peter to pay to Paul. Only time HR comes is when someone complains that they were supposed to xx but only <<xx and discrimination
The power people think HR has is astonishing. Apparently the run the company, manage budgets, reorganise teams, promote people and more! Is there anything tgey don't do?
Wake up people. When a leader tells you HR told me to do this and that... they are pushing blame. If you were happy with your ratings etc. they would admit it was them!
The email was sent when we returned to office that non compliance could impact your rating/comp.
Of course HR provides guidelines and managers have discretion to operate within those guidelines and would need approvals to go outside of them. It ain't rocket science and it's common practice at pretty much any large corporation. You people really don't understand this?
@dw
Meh
If AI can perform complex calculations, then surely it can confirm the mailing address, the severance payment amounts and frequency of payment. Trim down HR and just keep a skeleton staff for those one off situations and let AI do the rest.
@dt HR is needed to process PIPs and severance. Cutting HR means longer wait times for severance pmts and no one wants that.
Respectfully,
HR
@dp
These are excellent points. Since it’s not determined by HR, then what purpose does HR serve? What in the h@ll do they do? What function do they perform? I don’t know of anyone where I work who has ever interacted with HR and got any sort of traction not even the MD or skip level MD.
If you to trim back on the bonuses and raises, start with HR.
If you want to chop heads, start with HR.
I mean what are you going to lose? Nothing, that’s what. Just one less body you’ll be paying to do, well, nothing. If there’s ever a low hanging fruit job for AI to take over, start there. It should be easy to train AI to mirror what HR does, which again is nothing.
Compensation is decided by Comp and Ben team, which is different from HR. The decision about how to divide the bonus pool is taken on a very high level, nothing to do with HR, after all even their comp is determined at the same time :D It depends on the overall firm's performance + how the respective function's performance. Again, no HR involved until they need to opine on any subject-specific concerns, if any.
In essence HR is figuring out your bonus UNLESS your manager adjusts.
Unless you work in a revenue-generating role, which is highly unlikely, given your question / comment, then your bonus will not vary drastically from year to year, and no, HR does not decide it. Your manager gets a total bonus pool for their team and as already said can adjust slightly the numbers (up to 5-10% by robbing Peter to pay Paul), but on average, everybody is getting more or less the same every year. Attendance will affect bonus probably, but not hugely - if there was an issue with your attendance HR should have raised that to you already.
25% of 0 is how much exactly?
Your attendance issues will cost you 25% of your bonus..
HR does not control bonuses/comp. Each cost center has their own bonus pool. What you get is automatically spread out but your manager can adjust amounts based on rankings. (Take some from Bob to give to Gary) . If your attendance is tracked, yes it can affect your comps.