Retention Bonus
Retention bonus is a payment or reward outside of an employee's regular salary that is offered as an incentive to keep a key employee on the job.
Last updated
Retention bonus is a payment or reward outside of an employee's regular salary that is offered as an incentive to keep a key employee on the job.
Last updated
ActiveBooks allows you to configure Retention Bonus for an Employee for a particular period.
To access Retention Bonus, go to:
Home > Human Resources > Payroll > Retention Bonus
Before creating a Retention Bonus, it is advisable to create the following:
Go to Retention Bonus list, click on New.
Select Employee and Bonus Payment Date.
Enter the Bonus Amount.
Select the Salary Component under which you want to give the bonus.
Save and Submit.
On submit, 'Additional Salary' document of the specified 'Salary Component' is created. This will be fetched while running Payroll Entry.