Purpose & Eligibility
Purpose
The purpose of this policy is to outline how Rise Select Management distributes variable pay to employees as a reward for exceptional performance and contributions to the company's success. This policy ensures transparency in determining employee eligibility and calculating variable pay amounts while aligning individual and team efforts with organizational goals.
Scope
Employees may receive variable pay as outlined in their individual offer letter and in accordance with the company's policies. Full-time employees working at a property (whether hourly or salaried) are typically eligible for variable pay. Seasonal employees, interns, and temporary employees with contracts of less than one year, are not eligible for variable pay.
Employee variable pay criteria are determined annually and are governed by Rise Select's employment policies, which may be revised or amended. Any variable pay policy instituted will remain effective for the then-current period (e.g., quarterly: March, June, September, and December). In all cases, the written terms of this variable pay policy will govern variable pay determinations. Only written commitments approved by HR, will be considered valid. Verbal promises made by managers or executives, including members of the C-suite, will not be enforceable unless documented and approved in writing.
Variable Pay Structure
Incentive Structure Overview
Rise Select's variable pay structure is designed to incentivize employees to contribute toward achieving the company's annual financial and operational goals. Eligible employees may receive variable pay of up to 10% of their base salary, subject to performance criteria and weightings.
Performance Criteria Weightings
| Performance Criteria | Weight (%) |
|---|---|
| Rental Occupancy Increase | 30% |
| Budget Adherence | 25% |
| Maintenance Request Resolution Times | 25% |
| Social Media / Events | 15% |
| Online Reviews, Resident Surveys | 5% |
Lease Commission & Milestone Bonus Structure
Leasing Incentives
In addition to the variable pay structure outlined above, leasing team members may receive commissions for securing longer-term lease commitments and supporting resident retention. Eligibility for variable pay related to leasing will be governed by the employee's individual offer letter and company policies, and typically is extended to team members whose primary roles involve leasing (e.g., Community Assistant, Leasing Manager, Leasing Consultant).
New Lease Commission
A leasing commission of $25 per lease will be paid for each new lease with a lease term of 10 months or longer.
Renewal Commission
A leasing commission of $10 per lease will be paid for each renewal lease with a lease term of 10 months or longer.
General Commission Policies
- Only fully executed lease or renewal agreements are eligible.
- Lease or renewal terms shorter than 10 months do not qualify.
- Transfers, cancellations, or leases that are not ultimately executed are not eligible for commission.
- Commission is earned based on the executed lease or renewal term.
Milestone Bonuses
Leasing team members are eligible for bonuses based on pre-leasing for the upcoming school year. Specific pre-lease milestones and bonus amounts are determined at the property level by the Director of Marketing and are subject to change based on employee start date and role, in accordance with company variable policies.
Enforcement & Dispute Resolution
Dispute Resolution Process
Any disputes regarding eligibility for variable pay or amounts will be resolved in accordance with company policy. Employees are encouraged to raise concerns with their managers or HR for clarification.