Boulay Incentive Compensation & Retention Plan

Audit Department Specific Details

(June 1 - May 31)

To make the plan relevant to each department and to encourage department collaboration, we have given the Partner in Charge (PIC) of each department the ability to set a goal that, if met, will unlock additional dollars for their department.  We have also given the PIC the ability to choose the most relevant criteria for their department, based on their specific needs.  Knowing that needs change over time, the PIC will be able to set goals and select criteria each plan year.

 

 

DEPARTMENT GOAL


A department goal is established each year by the PIC in collaboration with department leadership.  This goal is intended to inspire the teamwork and specific actions needed to potentially unlock the Above & Beyond component of the Incentive Plan Pool.  The department’s successful completion of their annual goal will unlock 0.5% of the Incentive Plan Pool Floor.   When the Above & Beyond component is achieved, none of those dollars will be contingent upon completion of the department goals.

 


CRITERIA WEIGHTING

 

A team member is rewarded with dollars from the Incentive Plan Pool based on points they earn each year.  Points are earned based on their above and beyond contributions in the criteria selected by their department PIC.  By August of each year, a PIC must choose no less than four of the following seven criteria each plan year for their department.  This allows the PIC to choose the most relevant criteria to the department based on their individual needs.  Total points available will always be 100, and the distribution of points to each criterion will be determined by the PIC and approved by Executive Board each year.  A single selected criteria cannot be weighted less than 10 points or more than 40 points in any given year.

 

 

AUDIT DEPARTMENT GOALS

 

Increase utilization of the Boulay India team by all In-Charges

 

Why/Alignment

Increased utilization of our India team will help with a variety of department metrics (realization, efficiency, etc.) and support "Above and Beyond" attainment.

 

Measurement

Effective utilization of India contractors will be measured by:

  1. 95% utilization of India Contractors, and
  2. utilized by all in-charges

Criteria

Points

Individual Realization

Up to 20

New Project Participation

Up to 20

Staff Development

Up to 20

Billable Hours

Up to 10

Efficiency

Up to 10

Project Difficulty

Up to 10

Talent Acquisition Participation

Up to 10

 

Why (Needs/Alignment)

Less focus on billable hours with a greater focus on individual realization, new project participation (to align with the goal), and staff development to assist with creating better efficiencies with our new staff.

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