Watermark’s Whole Community Bonus Plan is designed to incentivize associates at every level of the community to focus on activities that create profit and boost occupancy. It offers different tiers of quarterly bonuses for hourly and non-leadership salaried associates, department heads, and executive directors.
Before each quarter begins, Watermark works with our partners to determine financial targets and occupancy commitments at which each community will become bonus-eligible. Rather than being a one-size-fits-all formula, every community has targets crafted to its position in the market and the performance improvement that can be expected. Partners have the opportunity to realize the gains before the bonuses are issued, and associates see these rewards as a return on the investment they have put into exceptional financial performance and occupancy.
In order to particularly encourage the participation of hourly associates in this bonus program, Watermark has taken measures to bring immediacy to the sometimes abstract concepts of financial performance and occupancy. Collateral distributed throughout each community encourages associates to remember that “little things” are big things. Simply introducing themselves to prospects, picking up trash, and being in uniform can contribute to occupancy, for instance. All of the exceptional things that associates do every day help to create extraordinary and innovative communities where people thrive. We want them to understand just how much their work matters, and we want to reward them for everything they bring to our communities!
We extend the influence of this program by pairing it with other Watermark offerings. We have found that, in our recruiting programs, the prospect of a quarterly bonus has been a valuable tool. Additionally, hourly associates who achieve top levels of performance in our Partner Program — a program that acknowledges exceptional individual performance and community involvement — receive a larger share of the Whole Community Bonus each quarter. These additional Partner Program funds both reward the truly engaged model associates while encouraging others to emulate those examples.
The associate bonus program offers abundance to all, especially the residents who allow us the honor of serving them. Exceptional fiscal and operational practices result in concrete benefits, and individuals’ contributions are rewarded. We look forward to seeing more benefits — and bonuses — from this program each and every quarter.
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