Can someone explain profit sharing

[nonunion slug]

With the hourly's new contract, profit sharing has been made clear. Can anyone explain salaried profit sharing? The information booklet is confusing.

Edited December 9, 2011 by nonunion slug

[Marginal Economist]

With the hourly's new contract, profit sharing has been made clear. Can anyone explain salaried profit sharing? The information booklet is confusing.

 

We don't have profit sharing. We have AICP - Annual Incentive Compensation Plan. You should have gotten an email back in March with a target number. There are then 5-6 factors based on glaobal performance and your CBG that determine what % of the target we hit. If we hit 80%, we get a base of 80%. If we hit 120%, we get 120%. This number is then adjusted based on individual performance. Top achievers can get a 30% bump.

 

You'll find out the number in mid March and you'll get the money in mid April.

 

The questions and examples are on HR Online under Pay and then AICP.

[4Real?]

We don't have profit sharing. We have AICP - Annual Incentive Compensation Plan. You should have gotten an email back in March with a target number. There are then 5-6 factors based on glaobal performance and your CBG that determine what % of the target we hit. If we hit 80%, we get a base of 80%. If we hit 120%, we get 120%. This number is then adjusted based on individual performance. Top achievers can get a 30% bump.

 

You'll find out the number in mid March and you'll get the money in mid April.

 

The questions and examples are on HR Online under Pay and then AICP.

 

 

Yep, that sounds real clear.