IS "VARIABLE PAY" INDEED PAID OUT HERE?

IS "VARIABLE PAY" INDEED PAID OUT HERE?


At WonderBiz, where we foster an entrepreneurial culture, we know that we’re offering you a challenge! There are risks that we want you to take. And we encourage a risk-reward mechanism. Variable Pay is a part of the same philosophy.

Do well, earn well - it’s a win-win!

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, they will in turn boost the Company!

Win for the people --> win for the Company.

What is Variable Pay at WonderBiz based on?

At WonderBiz, we base the Variable Pay purely on your OWN individual performance. Neither the Team Performance, nor the Company Performance. If you do well, you will get all your Variable Pay (100%). If you do exceedingly well, you might 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 super!

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, formal feedback is conducted every Quarter and the Variable Pay has a direct linkage to your Performance. It’s plain & simple. Works purely on the Performance & results you deliver.

NEVER has it happened that the Variable Pay was missed out or skipped! In our last 9 years of operations (& hence 36 Quarters), every Quarter, we have been particular in handing out the Variable Pay. (Even in the COVID situation, we paid out full Variable Pay). We believe it has to be Win-Win, else it won’t work out.

Again, why have you chosen to have Variable Pay?

Like we explained in the Part 1 of this series: Is Variable Pay some kind of a trick?, we want to institutionalize Meritocracy. Meaning Performance-driven culture. And Performance is what matters to produce Results.
Not just “Effort”, but “Results” or “Outcome”. It is important to differentiate between the two:

1. Cost World: Where Effort is everything & things are measured just by Effort or Cost
2. Value World: Where Outcomes are important & things are measured only by Value delivered

All of us here at WonderBiz, 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.

So, the smarter you work, the better you have an impact on the outcome, and better the opportunity you have to increase your own pay!

Key Takeaways

- 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 in COVID.
- Smart Work --> Right Outcomes --> Delivered Value --> Great Performance --> Super Variable Pay
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