In this article, we will be reviewing the best practices for pool creation. Pools can be found under the account management section.
Overview
Pools are set up at the admin level to give incentive form managers boundaries on bonus distributions. These pools are usually set up to represent different divisions or teams within your organization. Pools can be used in every incentive form type except for metrics- Team Member, salary-based bonus and elective.
Creating Pools
Pools can be created in one of two places, the Pools tab or when creating an Incentive Template. To create a pool within the pools tab, select Account Management > Pools > Add Pool as shown in the image below.
Create a pool name that represents the team members that will be eligible for the pool. Some example pool names are Leadership, Management, Business Development, etc. When selecting team members that are eligible for the pool, only select those whom you want to be able to receive a bonus from that pool.
Adding Roles & Default Percentages
Within a pool, each role can be assigned a default role percent. When a default role percent is assigned, the role and percent will automatically populate within a comp form. The default role percent can also be locked by selecting the lock icon highlighted in the image below. This means that an incentive form manager will not be allowed to change the incentive percent assigned to that role.
Creating Pools in an Incentive Template
When a pool is created within an incentive template, it follows a similar process as above. To create a pool within an incentive template, go to Account Management > Incentive Templates > Add Incentive Template > select the Add Pool button highlighted in the image below.
Select the pool dropdown menu, scroll to the bottom and select "Create New Pool" as shown in the image below.
The process is now the same as creating a pool from the pools tab. Refer to the "Adding Roles & Default Percentages" section above.