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Wednesday, March 26, 2008

My Bonus Saga Continues...

So my bonus saga continues. Actually this happened a few days a go and I have been too upset to even write about it.

During my business trip my Boss called my to say that he was going to hand out bonus checks that day and people were going to be upset as since they were all tied to the overall company OI (Operating Income). Tough year, no money. Mine was tied to this as well buy with a slight twist.

I also manage the ad sales portion of our business. You know when you get a magazine or catalog a page says "Advertisement" or "Advertorial?" Yep that stuff. We had a great year with that part of the business and over achieved plan by more then 10%. This would meant that I should have still earned 25% of my bonus + 10% more of that money for aver achieving.

Anyway, he is telling me that I need to not be too happy acting around the others as it would put salt in their wounds...I know this as I have managed people for years, but great, thanks for the heads-up.

About an hour later he calls to tells me that i did NOT make that number, in fact it was well under plan...HUH???

I have my tracking on this and I always know my numbers to the penny...Finance was just wrong. I again give my Boss the numbers and he insists we will get it fixed. I send him the spreadsheet for him to show we made it...comfortably.

Well our crack finance department wrote off over $1 Million worth of advertising! As they say the paperwork wasn't filled out right! I had a size 17 cow...

This is a year later, if there was an issue you would think before writing the amount off, they would...I don't know...check with someone? First my Guys ,so they could fix it, or me, so I could make it happen, or my Boss, the EVP of the company?

Nope the payroll clerk and the Account Receivable person made the call to write it off.

So now my team has to go back after every sale and collect for them...

The real moral of the story is...always know your numbers better that you need to. This is true for your job, budget, bank account etc.. Mistakes can be made and if you know them backwards and forwards you will be able to find out quickly and hopefully remedy the situation! Keep the personal in personal Finance!


Sharon said...

Ugh. I'm not sure how marketing/sales works, but it has to be so frustrating when your bonus is based on not only your numbers but the competency of other departments. Something smells fishy here, though. I would look further into it.

Fiscal Musings said...

The situation sounds really frustrating. I can see why you're upset.

SavingDiva said...

I'm sorry to hear that your company is so unorganized! I'm glad to hear that you kept good records. I hope everything is sorted out soon.

Heidi at BankerGirl said...

Wow - any manager should know that you don't mess with someone's bonus like that. I couldn't work at a place that was so unorganized. Even if the write-off was appropriate, they should have communicated with you once the decision was made.

Good luck getting it fixed.

RacerX said...

@Sharon - Not fishy with my Boss, as he was as surprised as me. It is strictly incompetency. But I get to clean it up and, at best, delay my check!

@Fiscal - *Breathes* Thanks Fiscal!

@Saving Diva - Not disorganized...incompetent :) subtle difference! Thanks for the support!

@Heidi - *Nail gets hit directly on head* I don't want to be coddled, but when you do everything that you believe is right...it is an issue. I wish I knew they had either a real issue, or a process issue, and we could have resolved it way earlier.

I can't thank you all enough for the support! Hey my review is today as well so...;(

Mrs. Micah said...

This will be something to bring up at your exit interview....

I mean, I don't know if you have the option of looking right away, but writing off $1 million is unbelievable.

Chief Family Officer said...

Yikes! I'm sorry you had to deal with such a frustrating situation. But I'm glad that eventually you will be able to get that bonus check!

RacerX said...

@Mrs M - I just had my review today and I brought up how silly this all is. Now I have to go back and collect year-old debt. It won't be hard but it is totally annoying!

@CFO - Thanks! It will work out...but it will take weeks I am sure!

Thanks again all for the support!

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