Bonuses

Throughout the bonus period, employees and managers can make changes to bonus objectives (for example, track the percent complete). At the end of the period, bonus objectives must be updated with a percent complete. You must specify a date of completion if percent complete is 100. You must provide a rating, if the goal is rated.

You can create bonus objectives only for bonus objective pay components that have been defined as employee-initiated or both employee and manager-initiated. You can create the bonus objectives directly in Compensation or attach goals that have already been created in Goal Management.

The difference between these two methods is that goals created in Goal Management can provide more flexibility for bonus objectives. For example, you can provide external results or use action plans. For more information about defining goals in Goal Management, see the Goal Management User Guide.

Bonus objectives must be approved. If an employee submits the bonus objectives, the manager must approve them. If the manager submits bonus objectives, the employee must approve them.

Note: There are additional requirements for a bonus objective for a bonus period uses a goal type with the Use External Results option selected. The external results must be specified and the goal must be completed before the manager can make the bonus period available for payment.

You indicate when the bonus period is complete. Your manager must then make the bonus objectives period available for payout. Your manager can complete your bonus objectives period on your behalf.