Memo
TO: All mid-level managers and executive managers.
FROM: Human Resources Manager
CC: The CEO
DATE: July 29, 2020
SUBJECT: PERFORMANCE BONUSES.
As the human resource manager in XYZ Industries, Inc., it is my pleasure to announce that there will be performance-based bonuses this month. These bonuses will be given to middle-level managers going up based on their performance review to be carried out. At the beginning of our financial year in June, we decided to change our management skills and introduced online sales. Due to efforts put in place by the management to enforce the new measures, the company has increased sales to 150%. Also, in the stock market, the market shares for XYZ Industries, Inc. have doubled in value. As a token for appreciation, the company has decided to issue a token of appreciation. The company is also operating internationally now. Thank you for your diligence and corporation.
From tomorrow henceforth, the finance department will carry out performance evaluation across all departments. The procedure will take five days, and as a result, the managers’ salaries might take longer to be processed. These reviews will determine the bonuses to be given to each manager in the company. The bonuses will be issued as follows:
- The most improved departments (three) he managers will receive a 30% salary bonus.
- The others who recorded improvement will receive a 20% salary bonus.
- Those departments that either stagnated or dropped in performance will receive a 5% raise.
- Overall managers and assistant managers will get a 30% bonus.
The salary and bonuses are set and should be paid between the 9th and 12th of August.
The company aims to continue this program in the future, depending on your continued effort. Also, if the same good results, all other employees will receive bonuses as well. The company will also be conducting a performance evaluation each month. I want to thank you all again for your good work as managers in XYZ Industries, Inc. Also, the performance evaluation performance will be put on the noticeboard near the reception. In case of any issue, the manager can come to the human resource department of the finance department for consultation.