RE: Addition of Annual Performance-Based Bonuses
I am humbled to let you know that the company has launched the program to offer annual performance-based bonuses for all the mid-level managers and above. As you might know, the company has been able to realize a good performance of recent. Part of the factors that results in this success is the increased sales, good managerial initiatives, and an increase in stock prices. As we continue marshalling for more success, it is the decision of the company’s board to reward best-performing managers with bonuses basing on merit.
However, you should also note that these bonuses do not come without expectations. There will be a performance grading for all mid-level managers and above throughout the year. Each person will be subject to evaluation individually by the director of performance that will then rank each manager according to the contributions offered in an annual business calendar. The bonuses will be subject to issue on the scale of performance with best performers receiving highest bonuses.
The company expects the introduction of these bonuses to have some rising concerns such as its significance to the company and managerial staff. The first anticipation is that not all will be happy with the introduction of such bonuses, especially the low performing mid-level to senior level managers. However, the company expects the introduction of these bonuses to act as a motivation for all mid-level managers and above and hence improve their performance that will eventually translate to higher bonuses at the end of the financial year.
It is our expectation that the program will be a success for both managerial team and the company. Feel free to contact me at anytime if you have any concerns. Thanks very much.
Best regards,
Human Resource Department
