What does go into a bonus?
It may entirely depend on the company's performance and sometimes only a part of it is considered while calculating the bonus. If the company does exceptionally well, the bonus may go up to 100 percent of planned amount or even more. Before setting aside an amount for bonus, the company has to meet a certain financial obligations.
At many companies, individual performance is also taken into consideration while deciding individual bonuses. Sometimes, the bonus is linked to the overall performance rating one gets. In some cases, the company sees whether a particular worker has met the targets set for him.
Communication with boss
It is important to communicate with your boss. If your bonus is linked to performance ratings, you must know what you are expected to do. If the bonus is directly linked to a set of goals, you have to know what those goals are and how you can reach them.
After the discussion with your boss, you jot down what you are supposed to do and confirm it from your boss.
Continue to keep in touch with your boss throughout the year to be sure that you are on the right track. What is confusing about performance-linked bonuses is what happens when you fail to hit a target because of circumstances beyond your control. You couldn't have reached a goal because a project is cancelled or delayed; or you move to a new job with a new set of responsibilities. In such cases, you should talk to your boss and find out whether your old goals can be replaced with new ones. Don't depend upon assumptions and wait till the bonus time. Issues should be settled as and when they crop up.
You may not like the idea of linking your bonus to your performance or linking it to the company's performance. But that is the way how things happen in the corporate world. You have to adjust your style of working.
