Payroll General Guidelines:

• The different HR sections are responsible for providing the payroll department with the monthly effect of the employees using the templates/forms set forth by payroll.
• The cut-off date for receiving the monthly payroll effects is 1st of each month.
• The Pay Day for salaries is 25^th of the month or any adjacent workday, if the 25^th is a holiday or non-workday.
• All changes in employment status (e.g., new hires, terminations), wage rates and salary to be properly authorized, approved, and documented.
• Payroll department will run the payroll off-cycle payment executions during the month to pay eligible employees other irregular dues like (medical expenses reimbursements, commission to staff sales, Etc.).
• The payroll team is responsible for addressing all audit inquiries related to salaries, commission, bonuses, and any other cash benefits paid to employees.
• Payroll, containing employees wage details, is a top confidential business aspect. Hence, all necessary measures and safeguards will be taken to ensure its confidentiality is not breached.

Salary Increase:

• The company conducts an annual pay review in April of each year for all eligible staff.
• The overall percentage for the merit increase is determined based on three factors:
• The company’s financial performance.
• The company’s budget for Merit Increases.
• The market trends and inflation.
• The pay review for everyone will take into consideration the following parameters:
• Performance results of the employee.
• Pay level of the employee on the relevant pay band.
• Approved promotion decisions to apply a promotion increase percentage.
• The company management may decide different schemes of merit increase percentages to different departments or teams based on relevant business rationales and merits.

Performance Bonus

Eligibility

• All employees who joined before the 1^st of July of the performance year are eligible for the bonus.
• Employees who joined during the year receive a prorated bonus based on the period spent during the performance year.
• Employees must be actively employed on the bonus payout date to receive the payment.
• The performance bonus doesn’t apply to Real Estate Sales Staff, as they are commission-based.

Payout Date

• Bonuses will be paid annually in March, following the completion of performance reviews and approval of final bonus allocations by management.
• The exact payout date will be communicated each year by the Human Resources department.

Payment Base

• The bonus is calculated according to the performance results based on the weighted average of the basic salary of the performance year.
• Allowances, commissions, overtime, or other variable pay components are not included in the bonus calculation.

Staff:

• “Exceptional” performance is up to 6 months
• “Above Expectations” is up to 4.5 Months
• “Meet Expectations” is up to 3 Months
• “Need Improvement” is up to 1.5 Month
• “Poor” performer is Null.