Q3 True Up Payments

From
Emily Russell <emily.russell@thekey.com>
To
Timothy Thomas <tt@thekey.com>, Derek Gordon <derek.gordon@thekey.com>, Melissa Reyes <melissa.reyes@thekey.com>
Date
Tue, 26 Nov 2024 20:21:46 -0800
Folder
INBOX
--000000000000f2349d0627dd4f9c Content-Type: multipart/alternative; boundary="000000000000f2349c0627dd4f9a" --000000000000f2349c0627dd4f9a Content-Type: text/plain; charset="UTF-8" Following up on the RDO conversation with Derek earlier today, see attached for your personal Q3 true up amount as well as those for your team. *Please do not share out until after the Monday Dec 2nd call regarding communications.* Until then, please review the files and if you have any questions please reach out to myself, Melissa or Derek and we are happy to discuss. As a quick refresh, the true up consists of the gap between the "bridge payout" given to all staff during the quarter and the additional earned above that amount by the staff who achieved / surpassed their reforecasted targets. What the payouts reflect / consist of is as follows: - For employees on incentive plans based entirely on site, region, or division metrics, performance was assessed based on actual results compared to the reforecast. Those plans will pay out as expected to 100% and above if performance dictated. - For employees with individual goal gates, achievement was capped at 100%. Since individual goals were not set for Q3 and earlier goals were based on the much higher budget targets, the only fair thing to do was base it on site performance, up to 100%. Above that, there wasn't an objective way to infer through analysis of earlier goals that had Q3 goals had been set, they would have resulted in more than 100%. - The same analysis and approach is currently being undertaken for October - timeline for payment will be forthcoming. We appreciate your patience and support with this process. -- *Emily Russell* SVP Human Resources | *TheKey* --000000000000f2349c0627dd4f9a Content-Type: text/html; charset="UTF-8" Content-Transfer-Encoding: quoted-printable Following up on=C2=A0the RDO conversation with D= erek earlier today, see attached for your personal Q3 true up amount as wel= l as those for your team.=C2=A0=C2=A0 Please do= not share out until after the Monday Dec 2nd call regarding communications= . =C2=A0 Until then, please review the files and if you have any questio= ns please reach out to myself, Melissa or Derek and we are happy to discuss= . As a quick refresh, the true up consists of the = gap between the &quot;bridge payout&quot; given to all staff during the qua= rter and the additional earned above that amount by the staff who achieved = / surpassed their=C2=A0reforecasted targets. What = the payouts reflect / consist of is as follows: For employees on incentive plans based entirely on site, regio= n, or division metrics, performance was assessed based on actual results co= mpared to the reforecast.=C2=A0 Those plans will pay out as expected to 100= % and above if performance dictated. For employees with individual goal gates, achievement was capped at 1= 00%.=C2=A0 Since individual goals were not set for Q3 and earlier goals wer= e based on the much higher budget targets, the onl

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