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Bonus and incentive compensation plans follow a formalized program based on predetermined goals or achievements. The purpose of bonus and incentive plans is to encourage employees to exceed normal job expectations in support of departmental and institutional goals.
APPROVAL:
Bonus and incentive compensation plans require prior review and approval from Human Resources, department administration and the Vice President/Dean. Once the bonus and incentive plans have been finalized, they are administered at the department level.
Sponsored Funds. Compensation needs documentation of approval to develop a bonus or incentive program if any portion of the programs' funding or the employees' compensation comes from sponsored funds. Please contact the Governmental Accounting Department at 581-5989 or the Office of Sponsored Projects at 581-3003 to determine if your sponsored funds are eligible for a bonus or an incentive program.
Deans, Directors, Department Heads and Supervisors
Responsible for contacting Human Resources for guidance in developing and administering any bonus and incentive compensation plan. Responsible for obtaining approval and submitting a written request with appropriate performance documentation to Human Resources.
Human Resources
Responsible for providing guidance to department administrators who want to reward employees with bonus and incentive compensation.
Responsible for ensuring the bonus and incentive compensation plans address department specific goals and objectives.