Your blueprint for bonus pay for startups, and bonus management as a business in transition during early stage development.
How to use discretion with a bit of structure to incentivise people using financial reward.
This is a blueprint of a financial incentive plan, which can be customised to your own needs and provide a framework to address diverse stakeholder interests, while delivering meaningful recognition of individual contribution to company success.
It shares with you simple, practical, defendable guidelines or principles to guide bonuses as a company grows bigger than new startup, setting up practices for future business stages.
You will have access to a ready-to-use, customisable set of rules to underpin a draft bonus operation. Once approved in line with your internal approvals framework, it will provide an annual governance framework for bonus payment, but in a way that Management retains a fair degree of discretion in calculated outcomes.
This document can be used as well as a drafting memorandum for your lawyers to use, if required.