Introduction On Target Earning for Ops
On-target Earnings refers to a contractor's pay structure made of basic salary and the additional variable component such as incentive as a part of the compensation.This is an expected pay that will be given to a contractor so that they can earn much more than the base salary.
OTE at Konsyg Konsyg is a high performance honouring company and we want to engage and pay the high performing members of the team. To address this we have taken an initiative to introduce Bonus or On target earnings so that high performing individuals can potentially go to a structure that would enable them to earn much more than their base and fixed salary. OTE structure would open up more avenues for contractors who are looking to increase their income based on performance.
Scope and Applicability of the policy This policy would be applicable to all contractors Konsyg.
Why OTE? The OTE structure is brought into being to reward the performance of contractors who are responsible to make the campaign a success. Not only that this policy would help us to recognise the star performers and help them in earning more as per their performance. The OTE structure would help in motivating contractors to perform better and outnumber their targets and thereby enabling them to earn more according to their potential and performance.
Benefits of having OTE
● Recognising potential high performers in Konsyg
● Upward earning matrix for contractors
● Having a clear understanding of what goals the operations team should hit to get rewarded for their efforts, they feel more motivated to work harder and achieve better results.
● Higher productivity. Stimulated to get a decent bonus for their work, sales reps would put more effort into fulfilling their tasks, which raises their productivity.
● Company’s growth. Feeling more encouraged to do a quality job, team members contribute to the business’s performance growth in general.
What is the OTE based on? The OTE is based on Key performance indicators that are specific to the job responsibilities of the contractor. If a contractor is able to achieve or outperform the KPIs aligned with the job he/ she will be paid the OTE amount assigned to him.
Key Performance Indicators The key performance indicators that will mark your performance are as follows:
Your contribution to increase email responses towards lead generation
Better Email copy leading to more responses towards lead generation
Optimised Process and Tools and Process Automation
Innovative solutions based mindset in terms of tools and processes
Zero QA issues
How will you be Measured? Every Ops Member will be measured based on the above parameters and given points on the same. At the end of the month, a review will be done to understand the performance of each contractor. Depending upon the quality of the work, the contractor will be eligible to secure points for the OTE payment. The contribution of every contractor would be measured by a committee of the Ops Director, HR and Senior management.
If the committee feels that you have attained the desired performance level in the parameters, they will recommend you for the OTE.
Staff serving notice period and on PIP are not eligible for any OTE from the date of resignation.
Performance Review The review of performance would be on a monthly basis. For at the end of the month the committee will analyse the performance of every contractor and qualify them. For the new joiners the gestation time for review would be after 1 month of their onboarding.
For all current contractors, who are unable to meet the specific account KPI, will be put in a 2 week PIP.
PIP Process At an event when the contractor is not able to perform the daily objectives of the position, Konsyg reserves the right to issue a Performance Improvement Plan (PIP) for the contractors.
Any contractor who does not deliver any handover for more than two weeks, will be issued a PIP by the company. The PIP plan is spread across one month and is designed to help the contractors overcome the difficulties and achieve the KPI. The stages of PIP is as follows
Contractors are informed about the performance and an initial mail regarding the PIP is sent from HR. The first review of PIP is in 7 Days
Incase the contractors is not able to show any improvement, a formal PIP of 14 days is issued where all the KPI’s are written down
The second review is held on the 15th day after formal PIP is given