I find myself in a situation where I received a retention bonus last year to match my salary. However, this fiscal year, the department's overall ratings decreased, and although I've been with the company for a year and received a promotion recommendation, the company now refuses to pay the retention bonus as I fall one rating bracket lower than eligibility.
I would appreciate any insights or advice on how to address this issue and explore potential solutions. Thank you for your valuable input!
From India, Mumbai
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I would appreciate any insights or advice on how to address this issue and explore potential solutions. Thank you for your valuable input!
From India, Mumbai
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Components like Retention Bonus, Performance Bonus/allowance, etc., are purely management prerogative, and whatever conditions are put as entitlement will be binding on the employee. If the conditions are clearly mentioned in the contract of employment/appointment order, any violation can be raised as a grievance. If not properly redressed, it can be resolved through litigation in civil court as a breach of contract.
Normally, the contract of employment will be silent about the conditions of entitlement but will only state that a specific amount will be paid depending on performance or years of service, etc. It may not detail how targets are set or ratings are determined. In the absence of specifics, the employer can make it flexible based on the organization's growth. Therefore, you do not have the right to demand it, but you can request details or suggest that the system should be made more transparent.
From India, Kannur
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4765Normally, the contract of employment will be silent about the conditions of entitlement but will only state that a specific amount will be paid depending on performance or years of service, etc. It may not detail how targets are set or ratings are determined. In the absence of specifics, the employer can make it flexible based on the organization's growth. Therefore, you do not have the right to demand it, but you can request details or suggest that the system should be made more transparent.
From India, Kannur
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Seek explanation for bonus denial, propose reconsideration based on promotion and performance.
From India, Bhubaneswar
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From India, Bhubaneswar
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Hi,
Any component that forms part of CTC, you have every right to ask about. However, any component that is outside of CTC (paid apart from salary) will be at the discretion of the employer. It should be in accordance with mutually agreed terms and conditions.
From India, Madras
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Any component that forms part of CTC, you have every right to ask about. However, any component that is outside of CTC (paid apart from salary) will be at the discretion of the employer. It should be in accordance with mutually agreed terms and conditions.
From India, Madras
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This appears to be a group incentive calculated based on the department achieving the set target level. So, irrespective of your performance and the credits secured, you have been deprived because of the overall performance of the department. Such situations are aplenty when you have a group incentive plan.
This type of situation has been encountered where such an incentive exists and it could be counterproductive. You may see many people who are not as productive, but if the department has met the target, they walk away with a handsome amount in their pocket.
When we designed an incentive plan, we incorporated three components based on individual efficiency, group performance, and overall growth of the unit. Though there were individual variations in the payout, there was something for everyone. That way, it became a motivator for everyone.
From India, Mumbai
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This type of situation has been encountered where such an incentive exists and it could be counterproductive. You may see many people who are not as productive, but if the department has met the target, they walk away with a handsome amount in their pocket.
When we designed an incentive plan, we incorporated three components based on individual efficiency, group performance, and overall growth of the unit. Though there were individual variations in the payout, there was something for everyone. That way, it became a motivator for everyone.
From India, Mumbai
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