MYARS
The Mid-Year and Annual Review System is an activity that will help identify the areas of improvement and development of all eligible InsBOSS Family Members (IBFMs). This will also ensure that those who have crapped at their level and/or Salary Grade will still be rewarded for their performance
The purpose of the annual performance evaluation process is to promote communication and provide useful feedback about job performance, to facilitate better working relationships, to provide an historical record of performance and to contribute to professional development.
The organization will conduct a bi-annual review of all IBFMs to determine who is eligible for promotions.
The review will be conducted by the respective Department Heads and Leaders of each business unit.
EXTRA MILE CONTRIBUTION
All IBFMs eligible for the performance appraisal can earn an additional percentage based on the significant contributions they’ve made throughout the review period. A corresponding percentage will be given based on whether your contributions made an impact within your level, your team, the whole department, or the whole organization.
As there is a cap to the percentage that can be earned during the appraisal period, if you have hit this cap and has made significant or notable contributions, then the recommendation is to assess and review if you are ready for promotion to a higher role.
- This is applicable for those who have capped at the salary grade of their level.
- You must be a regular IBFM for the entire Appraisal Period (each month should be regular EE standing)
- You must be on the maxed out position/level for the whole review period
- Applicable ONLY to regular IBFMs who have mazed out their position/level:
- Rank and File - Max SG6 for IVAS, VAcct, TMs
- Rank and File - Max SG7 for Specialists Positions within QA, Training, Marketing, IT, Data and HR
- Officer level - Max is SCSM, SSM, SOM
- Each Department Head and the respective leaders under them will be given 1 month to complete the performance review for all of their direct reports.
- Each Department head will be responsible and accountable for the review of their direct reports. Failure to meet the deadline may warrant disciplinary action and ineligibility from the appraisal.
- The yearly review will observe the following schedule every 6 months:
1st review period
July; Submission and rollout – Aug
– Retro pay applies on July 1
2nd review period
Jan; Submission and rollout – Feb
– Retro pay applies Jan 1
The first review period will cover the performance of the IBFM from Jan to June of the current year. The second review period will cover the performance of the IBFM from July to December of the current year. Please see the diagram:
- The bi-annual review will consist of their average BSC score for the past 6 months and their contributions.
- We are looking for consistency. Any qualified IBFM that obtained a monthly score below 90% during the 6 month review period will receive a corresponding reduction in their percentage for each month they were below 90% (max of 3 instances / 3 months within a given 6 month appraisal period)
- Resigned IBFMS will not receive retro pay during the assessment of their final pay
- Exemptions for significant contributions – for consideration by Co CEOs to have additional percentage unless they’ve hit the percentage cap.
- Must not have incurred 6 demerit points or more during the review period with consideration of current total number of demerit points
- The appraisal amount will be based on the overall financial health of the organization.
- This is an InsBOSS Privilege. We must always practice the Attitude of Gratitude.
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