Bonus Plans

Caroll

[font size="1" color="#FF0000"]LAST EDITED ON 09-20-06 AT 08:31AM (CST)[/font][br][br]I'm looking for a bonus plan for our mortgage banking business. This plan needs to include the administrative staff as well as the loan officers. We understand that it may need to be structured differently for sales and administration, but if it could be simple that would be wonderful. The president of our company has an incentive type plan in mind, but his plan doesn't seem like much of a bonus by cutting everyone's present salary and then compensating them back to what they're presently making if they do their jobs properly and if they exceed his expectations he'll bonus them on top of that (but how much is yet to be determined). Somehow that just doesn't sound legal. Please help me come up with a condusive plan for both the company and the employees so we don't lose everyone in this process. Thanks so much.

Carol HR Director