University of Richmond Staff Bonus Plan
The goal of the University of Richmond Staff Bonus Plan is to provide a one time bonus to staff members who have accomplished extraordinary achievement(s) within the workplace. It is designed to complement the Evaluation Program and provide a financial reward to a select few who have outperformed and exceeded expectations during the year.
All staff (exempt and non-exempt) are eligible. Faculty, student employees, contract staff, and temporary employees are not eligible to participate.
Eligible employees may be considered for a bonus based on the following criteria:
- The staff member performed substantially above and beyond expectations on a specific project or goal; or
- The staff member made a contribution that has a significant impact on university or department objectives; or
- The staff member went above and beyond the normal responsibilities required by his/her position; or the staff member assumed added responsibilities in the short-term to address a situation in which there was a "gap" in the organization.
Departments should have discreet measures, benchmarks and standards of operation to describe positive results. These measures should fall into one of the following categories:
- Operational Excellence: *Productivity *Growth *Quality *Cost Containment
- Customer Service: *Vendor, Student, Faculty, Staff; *Customer Satisfaction of timeliness, courtesy, quality, etc.
- Performance Measures
The performance of the staff member must be extraordinary, above normal expectations, and beyond the basic functions of their job. Everyone is paid to do their job; adequacy of pay is not the issue. Extraordinary achievement may be indicated by a single noteworthy action or a succession of extra efforts accomplished over a period of time. The performance must be measurable and have a beneficial net effect for the University. The written recommendation must be very specific and quantify exactly the effort and the outcome.
A staff member may be nominated by any Richmond staff or faculty member.
- Nominations should be sent to the associate VP for Human Resources.
- HR will forward nominations to the nominee's VP or equivalent and then to the nominee's supervisor for endorsement at each level.
- The committee will make a final decision after considering all comments.
- HR will track all nominations.
The recommendation should be submitted on the form and include a concise statement in three or four sentences presenting the case for bonus qualification. Please give careful consideration and justification to your recommendation/s.
The Staff Bonus Plan Committee is comprised of the provost, vice president for business and finance, and the associate VP for HR.
- Bonuses shall be determined as a percentage of base pay
- Bonuses may be awarded throughout the year based on events/situations.
- An employee may not receive more than one bonus per fiscal year.
The bonus under this plan will not be used in calculating retirement, health or wellness benefits. The bonus is to be considered to be a one time cash award and is not to be added to the base pay of the individual. All bonus earnings are considered taxable income in the year in which they are paid. Appropriate federal and state income taxes will be withheld at the rates in effect at the time of the payout. Participants are responsible for determining the tax consequences of the bonus payments and arranging for appropriate withholding. The University of Richmond will not be responsible for payments, interest, penalties, costs or expenses incurred as a result of an employee's failure to arrange for sufficient withholding of deductions from bonus payments. A staff member must be considered active on the bonus payout date to receive any bonus under this plan. At any point in time, the University of Richmond reserves the right to unilaterally change, modify, and/or terminate any aspect of this plan.