Activates April 1, 2022, with the first updated salary appraisal being May 1, 2022.
Salary appraisals occur during the team member’s anniversary month AKA join month. For example, Bob joined Axelerant on February 3, 2020; a salary appraisal happens every February.
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L2, with an Aggregated Performance Expectations Score of 93%.
COLA 4% plus L2 7% * ≥90% 100% =
4% + (7*100/100)% =
4% + 7% =
11% salary appraisal adjustment
L4, with an Aggregated Performance Expectations Score of 67%.
COLA 4% plus L4 5% * ≥60% 15% =
4% + (5*15/100)% =
4% + 0.75% =
4.75% salary appraisal adjustment
L6, with an Aggregated Performance Expectations Score of 113%.
COLA 4% plus L6 3% * ≥100% 110% =
4% + (3*110/100)% =
4% + 3.3% =
7.3% salary appraisal adjustment
What happens to appraisals when a team member resigns/or is serving a notice period?
If a team member has resigned from their position with Axelerant and is serving their notice period, they are not eligible for performance appraisals.
However, any performance-linked bonuses due to any team member during their resignation period will be paid out based on their present KPI and agreed-upon payout criteria.
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