Pro-Rating for Joiners, Leavers and Part-Timers
This lesson is part of the course
In this lesson
You count each employee's days inside the plan year with DAYS, MAX and IF, turn them into a pro-rata factor, apply the FTE % of part-timers and set the bonus to zero for anyone below the minimum service days.
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Lessons in this course
- Rating Distribution vs the Target Curve Locked
- Calibration: Z-Scores Within Each Manager Locked
- Relative Ranking: Percent Ranks and Rating Bands Locked
- Funding the Pool: Threshold, Target and Maximum Locked
- Individual Payouts: Salary × Target × Company Factor × Multiplier Locked
- Pro-Rating for Joiners, Leavers and Part-Timers Locked
- Fitting Payouts to the Budget: Scale, Round, Fix the Residual Locked
- Payout Summary: Cost vs Pool by Department and Fairness by Grade Locked