VARIABLE PAY POLICY
AT WONDERBIZ

VARIABLE PAY POLICY
AT WONDER-BIZ


There's a plethora of reasons why an IT professional would join a company & continue to stay there for a long time. Work culture, Job responsibilities and Learning curve are definitely important reasons. But inarguably Compensation remains to be the most important one, and naturally so, because good work deserves good compensation.

In most companies today, the compensation is divided into a Fixed Pay and a Variable Pay. Variable Pay drives up a Performance-oriented Culture and helps attract and retain talented people as they prefer joining organizations where they will be recognized on the quality of their performance. Indian companies are today progressing on par with the West, and since Performance and Compensation often go hand in hand, Variable Pay provides a win-win situation for both the Employee and the Employer.

So, how does this system work? As a new joinee, is this something to be concerned about? And what are the different aspects of this Variable Pay? Let's answer these questions!

What is Variable Pay?

While Fixed Pay is paid out as your monthly salary, Variable Pay is held back & disbursed once, twice or quarterly every year. Variable Pay is linked to your own Performance. Prospective candidates often think that the Variable Pay is only included to inflate the package offered and doesn’t help in the long run. But that’s not true at all. The main motive behind Variable Pay is to let the Employee influence how much they earn!

You perform superb and you get a whopping Variable Pay! After all there should be no limit to rewarding extraordinary work. Why should a passionate employee work 2x as much as the other guy and get paid the same? Variable Pay eliminates any room for complacency. The IT Industry cannot function like a 9-to-5 Government job, where work moves like a tortoise and never even wins the race. Product Development especially requires speed and focus, and at WonderBiz team members applying these two qualities are treated like the heroes they are!

What is Variable Pay at WonderBiz based on?

At WonderBiz, we want to foster an entrepreneurial culture, that's filled with exciting challenges containing lucrative rewards. Walking in the footsteps of Silicon Valley start-ups, we encourage people to be ambitious and innovative. And Variable Pay fits in perfectly as the ideal risk-reward mechanism.

In fact, we want all our team members to earn well, grow in their professional career and prosper in life. We truly believe that people make or break Organizations. And if we boost our people's lives, they will in turn boost the Company! It's a win-win situation.

At WonderBiz, we base the Variable Pay purely on your OWN individual performance. Neither the Team's, nor the Company's. If you do achieve your targets, you will get all your Variable Pay (100%). And if you do exceedingly well, you can even get more than 100%. There have been cases where some team members have earned consistently higher than 100% (sometimes way, way higher than 100%) simply because their performance has been outstanding.

Our co-founders have decades of experience, and realize how important meritocracy is. Lot of professionals lose their spirit and fire because of lack of meritocracy at their working places. To counter this wrong phenomenon, we have institutionalized performance-driven culture that gets "results". All of us here subscribe to the "Value World" philosophy, where in the end, all that matters is only the Value that one delivers. Efforts are important, but only as much as they contribute to the Value and the impact of that Value. Consequently, Smart Work rather than pure Hard Work is what one needs to focus on. It might seem too intense for some, but this is the kind of attitude that has carved out innovation leaders like Steve Jobs, Bill Gates, Elon Musk, etc.

When is the Variable Pay at WonderBiz given out?

At WonderBiz, we pay out Variable Pay on a Quarterly basis, which means, once every three months. Performance is measured and a Formal feedback is conducted every Quarter. Plain & simple.

NEVER has it happened that the Variable Pay was missed out or skipped! In our last 10 years of operations (equalling 36 Quarters), we have been particular in handing out the Variable Pay every quarter. Even in the COVID situation, during both the lockdowns, we paid out full Variable Pay. We believe it has to be Win-Win, else it won’t work out.

Should you be concerned at all, if your offer includes a Variable Component

Certainly not! Especially, we have a perfect track record of timely handing out Variable Pay. Also, from your side, if you’re pretty certain about your own ability & performance, you can sit back and continue to enjoy your work. You make a significant impact and your Lead will have no hesitation in recommending even more than 100%. When you punch above your weight or help the team out of tough technical spots, you make a recognition worthy impact. You deliver and earn the right to expect value in return.

This is the reason why many of our Team members, who consistently excel, get back much more in the form of Variable Pay. Frankly speaking, it's a rewarding relationship for the Team Member and the Organization. And this is also why so many of our team members end up staying around for a long time with us.

Key Takeaways:

- Variable Pay gives you the Right to Influence how much you earn.
- It’s an ideal indicator of performance : Perform better, Earn better!
- No need to be concerned, as Variable Pay is your right and you will always get it!
- Variable Pay at WonderBiz is purely based on your own individual performance!
- We pay out Variable Pay on a Quarterly basis. Never has been Variable Pay been skipped or missed out. Even during COVID-19!
- Like all our team members, you can always expect to get at least 100% Variable Pay.
- The more impact that you make, the more Variable Pay you can expect! (even more than 100%)

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