The Bonus Calculator Form Template from WPForms helps calculate bonuses based on multiple factors like tenure, performance, and company profitability. It’s an excellent tool for HR departments, managers, and businesses to get automated calculations of bonus payouts.
How Does the Bonus Calculator Form Template?
The Bonus Calculator Form Template uses the Lead Forms Addon to break the form into multiple sections and the Calculations Addon to calculate bonuses, both of which require the WPForms Pro license. The fields you’ll find inside the template are listed below:
- Name: This field captures the employee’s name, personalizing their experience with the bonus calculator.
- Email: Employees can enter their email address to receive a detailed summary of their bonus calculation or further HR communications.
- Tenure at Company: Using a number slider, employees can specify their tenure in years. Tenure is often a key factor in determining bonus eligibility and amount.
- Base Salary: Employees input their annual base salary. This figure is crucial as the bonus is typically a percentage of this amount.
- Performance Rating: Through a dropdown menu, employees select their latest performance rating. Options include Excellent, Good, Satisfactory, and Needs Improvement. This rating significantly influences the bonus calculation.
- Company Profitability: Employees enter the company’s annual profit figure. Higher profitability often correlates with higher bonuses.
- Bonus Percentage Scale: This user-defined field allows input of the company’s scale or policy for bonus percentages, providing a reference point for calculations.
- Bonus Percentage: Auto-calculated based on the entered performance rating and tenure, this field displays the percentage of the bonus the employee is eligible for.
- Total Bonus: Another auto-calculated field, it shows the total bonus amount, combining the base salary and the calculated bonus percentage.
The Bonus Calculator Form Template is a valuable asset for any organization. It streamlines the process of calculating bonuses, making it transparent and fair. Sign up with WPForms today to access it, along with a huge list of other pre-made templates!
