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Can employees receive a Performance Pay Increase if their pay is at the top of the band?

April 26, 2017band employees increase pay PERFORMANCE

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Can employees receive a Performance Pay Increase if their pay is at the top of the band?

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Employees rated at the FME level who are eligible for an increase that exceeds the top level of the pay band, will receive a cash payout for the amount that exceeds the top of the pay band. This is called a conversion bonus. The payout is in addition to any other performance awards the employee may be eligible to receive. Employees who are rated at the SEE level and are at the top of the pay band may receive a pay increase that exceeds the top level of the pay band by 5%. This amount is added to the base salary and becomes the employees base pay. If the performance pay increase exceeds the 5% extension of the pay band, the employee will receive a conversion bonus for the portion that exceeds the 5% extension of the pay band.