It’s the time of the year again! Festive seasons, shopping, food, vacations, and BONUS!
But there is something about the organization policy which I simply cannot understand since the first day I joined the workforce.
The Oxford Dictionary defines bonus as ‘a sum of money added seasonally to a person’s wages for good performance’ (er…don’t really understand why ‘wages’ is in plural).
So it is about paying for performance right? Performance for when? My coconut brain reminds me that we are appraised by our organizations annually for performances for a period, say from January to December 2007. Then based on our performances for this period, we are paid certain amount as bonus. Ah, so for our case, it's performance from Jan to Dec yah?
But the payout can be in December, some in January, February and even March, for whatever reasons. The part which doesn’t gel really well with my coconut brain is the question – if the bonus is for my performance from Jan to Dec 2007 and the company makes the payout later, why am I penalize if I were to tender my resignation after the period of assessment and before I receive my bonus?
Supposing the company credits bonuses to our bank accounts on 15 Jan 2008 and I tender my resignation on 10 Jan 08, my bonus will be forfeited. Some companies will even recover the amount paid if I tender on 20 Jan because I have not served the whole month of Jan 08. (And I just realized that for some companies that do not recover the amount, it’s not because of their compassion or goodwill, it’s because of the hassle of recovering!)
Why ah? Isn’t the bonus made to me for my performance from Jan to Dec 2007? And I have stayed for the whole of 2007. Have I missed something? What has it got to do with me staying or resigning in 2008?
Policies are made by humans to serve the humans. But some policies, like this one, simply appear illogical to my coconut brain.
Maybe it has nothing to do with logic after all. Perhaps some big brainers can tell me why and enlighten my coconut brain.
If I owe the company money and tender my resignation, do you think my debt will also be forfeited ah?
8 Nov 2007 (7.25am)
But there is something about the organization policy which I simply cannot understand since the first day I joined the workforce.
The Oxford Dictionary defines bonus as ‘a sum of money added seasonally to a person’s wages for good performance’ (er…don’t really understand why ‘wages’ is in plural).
So it is about paying for performance right? Performance for when? My coconut brain reminds me that we are appraised by our organizations annually for performances for a period, say from January to December 2007. Then based on our performances for this period, we are paid certain amount as bonus. Ah, so for our case, it's performance from Jan to Dec yah?
But the payout can be in December, some in January, February and even March, for whatever reasons. The part which doesn’t gel really well with my coconut brain is the question – if the bonus is for my performance from Jan to Dec 2007 and the company makes the payout later, why am I penalize if I were to tender my resignation after the period of assessment and before I receive my bonus?
Supposing the company credits bonuses to our bank accounts on 15 Jan 2008 and I tender my resignation on 10 Jan 08, my bonus will be forfeited. Some companies will even recover the amount paid if I tender on 20 Jan because I have not served the whole month of Jan 08. (And I just realized that for some companies that do not recover the amount, it’s not because of their compassion or goodwill, it’s because of the hassle of recovering!)
Why ah? Isn’t the bonus made to me for my performance from Jan to Dec 2007? And I have stayed for the whole of 2007. Have I missed something? What has it got to do with me staying or resigning in 2008?
Policies are made by humans to serve the humans. But some policies, like this one, simply appear illogical to my coconut brain.
Maybe it has nothing to do with logic after all. Perhaps some big brainers can tell me why and enlighten my coconut brain.
If I owe the company money and tender my resignation, do you think my debt will also be forfeited ah?
8 Nov 2007 (7.25am)
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