The following information is a brief recap of how the bonus program works.
1) You need to know your total equipment value
You can find this in RM. Click on “Utilities” and then “Loss and Replacement” to see a list of your current Space Walk owned equipment.
Note: The inventory value used for the bonus calculation (from the Loss and Replacement Report in RM) is the Non-Discounted Inventory Value.
On this report the total inventory value is discounted by 30% to give a Discounted Inventory Value that is strictly used to calculate the Loss and Replacement premium. This is done for the Partner’s benefit in order to lower the Loss & Replacement cost.
But the discounted inventory value is not the value used for the Bonus calculation. It is the non-discounted inventory value that is used in the bonus calculation. The challenge is the total of the Non-Discounted Inventory Value isn’t given on the report in RM. So to find that value, take the Discounted Inventory Total value and divide it by .7
That will give you the Non-Discounted total equipment value.
The non-discounted inventory value from RM will give the Partner an inventory value to work with to set the goal, but the actual inventory value for the bonus calculation may be slightly different (higher or lower) depending on equipment placed to a branch or returned to Home Office during the bonus period.
2) Multiply this number times your quarterly goal multiplier
It changes each quarter as follows:
|1st Quarter (January-March)||10%|
|2nd Quarter (April-June)||35%|
|3rd Quarter (July-September)||30%|
|4th Quarter (October-December)||25%|
As an example, for the 2nd Quarter – take total equipment value X .35 = the Finalized DUT goal for the quarter.
[i.e. $52,194 x .35 = $18,267.90]
Any branch that does that much or more Finalized DUT during that three month period earns a bonus of 1% of actual Finalized DUT for the quarter.
Note: The DUT must be received and finalized at Home Office before the end of the quarter to count towards the quarterly bonus.
In addition, each year any branch that has Finalized DUT in a calendar year greater than the total non-discounted equipment value earns a bonus of 1% of the Finalized DUT for the entire calendar year.
Note: The DUT must be received and finalized at Home Office before the end of the calendar year before the Home Office closes for the Christmas break (December 25th-January 4th) to count towards the annual bonus.
Please contact Kim Teff if you have any further questions.