Reminders from the Payroll Office by Susan Larson Fiscal Year End Reviews & Bonuses. By printing time of the Crest Ink all yearly reviews will be on their way to completion or completed. This is a busy time of year for department managers, but also for the Payroll of- fice. I’d like to explain the employee review process, give some stats from last year, and answer some frequently asked questions. In 2017 there were 555 reviews completed for Crest hourly employees. For 2018 that number is about the same, so please be patient while waiting for your supervisor to speak with you on your results, especially for the bigger departments. For 2017 the bonus dollars paid out to Crest Foods hourly employees was over $560,000 . This number included regular bonus dollars (based on your division) and incentive bonuses paid out to employees who were capped in their current salary range and scored between a 4 and 5 on their review. To qualify to receive your bonus, you must be an active employee on July 31st and have enough qualifying worked hours in the fiscal year. These bonuses are paid out in the form of a “check” and are not direct deposited into your normal account. Bonus checks are handed out personally by a member of the Meiners family during your work day on Tuesday, July 31st. How do you know if you qualify for a cap bonus? Upon receiving reviews back from the various departments, I begin entering scores into a master employee sheet which will look at your current rate of pay vs current and new pay scales. This process identifies the employees who were in the capped salary area last year, and also those who met a capped hourly wage last year. Employees do not qualify for this bonus on the year that your hourly wage hits the top of the pay grade that you are in. You must complete a whole year at that pay rate. The next step in the qualification is to determine what each of those employees received for a final review score and whether it meets the current year’s scoring requirement. In prior years this has been a final score equal to 4, 4.5 or 5. For each em- ployee who meets the scoring requirement, we then figure each employee’s yearly base salary (ex. $15.00 x 2080 = $31,200.00) then multiply that number by the percentage assigned to their score. Contract Packaging Division employees should watch the bulletin boards in each building where there is a posting that is updated every 4 to 5 weeks with an estimate of where your gross bonus is during the fiscal year. For the Cor- porate & Ingredient Divisions the bonus dollars are determined by the Crest Foods Board of Directors meeting and is c oordinated with your employee review score and regular hours worked during the fiscal year. Annual Incentive Raises. Traditionally, the first Monday of August Crest Foods gives out incentive raises based on the final review score that you receive on your annual performance review. The raise percentages each year are determined by the Crest Foods Board of Directors. Postings for the August 6th raises will be posted in July. These raises will go into effect on August 6th and you will then see them on the check you receive August 17th. A question that I am asked frequently is how this works if you are close to the top of your pay scale? So the following is an example: Any employee who reaches the top of their pay scale may not see the full percentage amount and only go to the top of their pay scale. An example would be if your current rate of pay is at $14.50 and the top of your pay scale is $15.00 and you receive a score of a 5 which is determined to be a 5% raise this would equal out to a $.73 per hour increase you will be capped out at $15.00 and only receive $.50 for this raise. For those of you who work B or C shift is that the raise is calculated off of your base pay rate not including your shift pre- mium. If you have any questions on this process and how it works please stop by my office or call me (ext 235).
July, August & September 2018 Crest Ink 15
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