Formal plan: The most popular kind of bonus plan, which 70% of biotech companies use, is the formal plan, in which a company establishes a matrix to fund the plan at the beginning of the year, says John Radford, senior vice president of Radford Surveys and Consulting. This establishes criteria including: who participates in the plan, how company and individual performances are weighted, how much money goes into bonuses if all goals are met, and individual target goals.
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How bonuses are calculated: Three models
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