STEP Incentive Program

Stronger Together Enhancing Performance (STEP) Incentive Program

The purpose of the STEP Incentive Program is to motivate and celebrate Operations Team Members meeting and exceeding individual, team, and firm goals. It runs annually June 1 - May 31.

Participants

Full-time and Personalized Schedule Arrangement Team Members of Boulay PLLP within the Operations departments are eligible:

• Human Resources
• Information Technology
• Internal Accounting
• Learning & Development
• Marketing
• Office Administration

Pool

Individual Incentive Awards will be based upon:

• Role within the organization. Each role will be provided an average % payment target.
• Individual Team Member performance ratings using the evaluation tool.

Evaluation

• Evaluations will be conducted by each departmental leader.
• Team Members are encouraged to complete and submit a self-evaluation for consideration.

• Detailed explanations of the rating levels can be found in the 'Subjective Criteria' section at the bottom of this page.

Administration

• Department Leaders will present their recommended Incentive Awards to the Managing Partner and Chief Human Resource Officer for final review/approval.
• Incentive Award payment will be calculated on prior fiscal year’s base compensation.
• Annual Incentive Award payments occur on the August 15 pay cycle.
• Plan participants must be actively employed on August 15 to receive their Incentive Award.
• Incentive Award payment principals will be paid over three years in 1/3 installments.
• Incentive balances paid for FY2024 received 20% interest. Effective 6/1/2024, interest of 10% will be paid on year’s two and three Incentive Award balances. (Note, the Firm reserves the right to adjust the interest rate amount as business needs may dictate.)
• If a Team Member departs the Firm with earned Incentive Award installments, those funds will be retained in a pool for future distribution to their department’s Team Members who were employed during the same award periods. Interest will not be paid on the reallotted funds.
• New Team Members hired will have their Incentive Award calculation prorated based upon months employed. Refer to the proration schedule below.
• Team Members who were placed on a Performance Improvement Plan for any portion of the year may have their Incentive Award adjusted.
• If a Team Member retires by attaining early retirement age of 59 and completing 3 years of service with the Firm, or attains normal retirement age of 62, they will receive full payment of their earned Incentive Award at termination.
• Partners, consultants, contractors, seasonal/temporary employees, along with individuals in departments not listed above are excluded from eligibility.

Proration Schedule

To support fairness and equitability in the receiving of points, there will be a prorating of points for mid-year hires:

• If start date is within Q1 (June - Aug) = 100% of points possible
• If start date is within Q2 (Sept - Nov) = 75% of points possible
• If start date is within Q3 (Dec - Feb) = 50% of points possible
• If start date is within Q4 (Mar - May) = not eligible for current year, but will be eligible for 100% of the following year’s points

The adjustment will take place after points have been allocated in the calibration meetings, to help with consistency of ratings during the calibration meetings. This proration is only for an individual’s first year at Boulay.

If the new hire is a returning Boulay team member, they will not receive any reallocated dollars nor will they receive any reinstatement to prior year dollars. Individuals returning to Boulay will return to the Plan in the same fashion as any mid-year hire with the proration of the first year as noted above.

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Team Member’s work was primarily recurring from the prior year.

Team Member’s work included a few new projects for the team member, department, or the firm.

Team Member’s work included several new projects for the team member, department, or the firm.

Team Member’s work included many new projects for the team member, department, or the firm.

Team Member rarely presented initiatives related to continuous improvement.

Team Member presented a sufficient level of initiatives related to continuous improvement.

Team Member frequently presented initiatives related to continuous improvement.

Team Member consistently presented initiatives related to continuous improvement.

sufficiently open to working with others, as well as suggestions, critiques, and ideas from team members toward a shared goal.

Team Member was consistently open to working with others, as well as suggestions, critiques, and ideas from team members toward a shared goal.

Team Member was rarely focused on client needs, experiences, deliverables, satisfaction and/or quality.

Team Member was sufficiently focused on client needs, experiences, deliverables, satisfaction and/or quality.

Team Member was frequently focused on client needs, experiences, deliverables, satisfaction and/or quality.

Team Member was consistently focused on client needs, experiences, deliverables, satisfaction and/or quality.

Team Member's contributions were at times performed, at an efficiency level below expectations for their position.

Team Member's contributions were performed at an efficiency level sufficient for their position.

occasionally at an efficiency level above expectations for their position.

consistently at an efficiency level above expectations for their position.

sufficiently utilized approved systems as per standard operating procedures.