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      How do I configure the Bonus Pool settings in Protiv? 💰

      This article will guide you through setting up the Bonus Pool in Protiv, which allows you to strategically manage and distribute bonuses to your team. 🏆

      The Bonus Pool feature in Protiv gives you more flexibility in how you reward your team for their hard work. Instead of paying out all bonuses immediately, you can set aside a portion of the savings from completed jobs into a pool. This pool can then be used for various purposes, such as mid-year bonuses, retention bonuses, or other incentives.


      Accessing Bonus Pool Settings       ⚙️

      1. Log in to your Protiv account.
      2. On the left-hand side of your dashboard, you'll see a navigation pane with various sections like Dashboard, ProPay, Bonuses, etc.
      3. Click on the "Settings" tab. ⚙️
      4. Click on the "General" tab.
      5. Scroll down to the "Bonus Pool" section.


      Configuring Bonus Pool Settings       🔧

      1. Enable Bonus Pool: Toggle the switch to "On" to activate the Bonus Pool feature.
      2. Set Allocation Percentage: Decide how much of the savings from each completed job you want to allocate to the Bonus Pool. You can choose any percentage between 0% and 100%. The remaining percentage will be paid out to workers immediately as their bonus.
      3. Distribute Bonus Pool: When you're ready to distribute the funds from the Bonus Pool, you can do so manually by creating a ProPay and selecting "Bonus Pool" as the funding source.

      Example:

      Let's say you complete a job with $500 in savings. If you have set your Bonus Pool allocation to 25%, $125 will be added to the Bonus Pool, and the remaining $375 will be distributed to the workers as their immediate bonus.


      Understanding the Bonus Pool Toggle       🔄

      The Bonus Pool toggle allows you to:

      • Configure Bonus Pool: Set aside a portion of the savings from each job into a pool for later use.

      • Flexible Allocation: Decide how much of the savings to allocate immediately to workers and how much to hold in the pool.

      • Adjustable Parameters: Adjust the allocation percentages based on your company's needs and goals.

      • Visibility and Transparency: Workers can see the bonuses and understand how they are calculated, fostering trust.


      Implementation Steps:

      1. Enable the Bonus Pool Toggle: Navigate to the settings in Protiv and enable the bonus pool toggle.

      2. Set the Distribution Percentages: Decide on the percentages for immediate payout and for the bonus pool.

      3. Monitor and Adjust: Continuously monitor the performance and adjust the settings as necessary.


      Benefits:

      • Motivation and Retention: The bonus pool system helps motivate employees and improve retention.

      • Strategic Use of Savings: By holding a portion of the savings, companies can use these funds for strategic bonuses, enhancing long-term employee engagement and performance.



      Important Note:       Only Admin users have access to the Settings page. These settings will apply company-wide.

      💪🏼 Pro Tip: Use the Bonus Pool to create a sense of anticipation and excitement among your team. You can announce the upcoming bonus distribution to motivate them to continue their excellent work. 🎉