Performance Bonus for New Year and Thanks Giving
In the past years, we have released annual bonuses to all regular teachers with the same rate. However, we considered that superb teachers should get more compensation based on their effort and dedication. Because of this, we decided to establish a clearer and more standardized version of our annual bonus sytem. Our new system is now prepared and its implementation will start this year.
Please read through these important notes to understand this system fully:
1. Performance bonus will be released twice a year as New Year and Thanks Giving bonus.
a. New Year Bonus : 1st half on April 5
b. Thanks Giving Bonus 2nd half on October 5
2. Teachers' annual bonus amount is based on their monthly average salary and the final amount will depend on their overall performance scores in the past 6 months.
– The scores are mainly based on attendance, progress sheet updates, student feedback, equipment, first-class booking success rate, overall teaching performance, et.al.
– We have set ranks based on the teachers’ total performance score:
> S tier being the highest and N/A being the lowest.
*Please refer to this table for the full rank list:
– New Year Bonus evaluation period : Every September 1st to February 28th and paid on April 5th.
– Thanks Giving Bonus evaluation period : Every March 1st to August 31th and paid on October 5th.
NOTE: Only Teachers who are ranked S to C will receive their half-annual bonus. Teacher who rank from D to N/A will not be eligible to receive their bonuses.
2.1 Examples
Example 1
Teacher James showed good performance within the first half of year of his employment so he’s evaluation reached at A tier and his Average monthly amount is $500
New Year Bonus – A Tier(Salary Release Eligibility) 40% = $500 X 40% = $200
Paid : April 5th
However, he wanted to get S tier in next half, so he showed the great performance and got S tier in 2nd half.
Thanks Giving Bonus – S Tier(Salary Release Eligibility) 50% = $500 X 50% = $250
Paid : October 5th
His total bonus is $450 for this year.
3. How to score and what's the standard?
There are 30 sections to evaluate and each section’s max score is “10”
But if teacher get 8.5 average, anyone can have S tier’s eligibility.
4. Our Annual Bonus evaluation will be done every month and overall performance scores in the past 6 months.
– If a teacher is not eligible for the annual bonus in April, their performance scores will be reset and will be open for new evaluations for the October half-annual bonus release.
– Therefore, teachers can always do better in case they get a low-performance score in the past. On the other hand, the opposite could also happen so it’s always best to strive to maintain good scores all the time.
5. Can teacher check the evaluation paper or sheet to understand this evaluation?
Definitely, Yes. We will be sharing the evaluation sheet and payroll team will send it together with your payslip. Everything is transparent.