Bonuses
We want to reward you if Glucode performed well.
Glucode’s financial year (FY) runs from the 1st of July to the 30th of June in the following year. This also means that our reporting on financial performance is based on this timeframe.
Every year around October, we will announce the company’s performance. The nature of timelines on Financial Audits will be the variable of the announcement.
First Bonus
If the company did not make a loss during the measured FY, a bonus equivalent to 1 (one) months salary will be awarded and paid with the November pay run.
Second Bonus
If we met the set profit targets for the measured FY, an additional bonus equivalent of 1 (one) months salary will be awarded and paid out as per the following schedule:
| Month | % Paid out |
|---|---|
| January | 25% |
| May | 75% |
Info
The bonus amount is calculated using the monthly salary that you earned at the end of the measured FY.
Success
We pay the second bonus out on a schedule as a retention strategy and to manage cash flow.
Eligibility
To qualify for the bonuses, you have:
- been employed at Glucode during the financial year that is being measured for the bonus. Your bonus will be calculated on a pro-rata basis, reflecting the actual months you worked during this period.
- not have been placed under performance management or received any formal warnings regarding your performance or adherence to company policies and procedures up to and including the date when bonuses are to be paid out.
- consistently met the minimum expectations of your role.
Conditions
Warning
If you resign or are terminated from Glucode, you will forfeit any outstanding bonus amounts.
Danger
We reserve the right to amend or cancel this reward scheme at any time.