Create and Track a Bonus

Set a goal, put cash behind it, and let your team follow the progress. This article covers creating a bonus plan, adding stakeholders, and posting progress updates.

Before you start

Bonus plans are available on Team and Pro in the US, and Growth and Pro elsewhere.

Create a bonus plan

1. Go to Bonus → Bonus plans and click Add.

2. Under Name of bonus, enter a name your team will recognise, for example Company Christmas bonus.

3. Under Name of goal, enter the number you're tracking, for example Number of monthly active users or Growth MRR, then set the Unit of measurement.

4. Set the Start date and End date.

5. Under Target metrics, enter the Baseline value. This is the starting figure on the progress chart.

6. Add your Tiers. Each tier is a target and what it pays: at [target] pays [reward]. Use one tier or many, so hitting the first target isn't the end of the effort.

7. Choose whether each reward is a Fixed $ amount or a % of salary.

8. Under Stakeholders, use Select stakeholder to add the people taking part, or Add new stakeholder if they aren't in Cake yet.

9. Save the bonus.

Note: A bonus starts as Draft. Turn it on to move it to Ongoing, which is when your team can see it. Completed bonuses show as Finished.

Add a salary for percentage-based bonuses

A % of salary reward needs a salary recorded against each person taking part. Add one before you add them to the bonus:

1. Go to People → All and find the person.

2. Open their actions menu and choose Salary.

3. Enter the Amount, choose the Currency and Frequency, and set Effective from.

4. Save, then return to your bonus plan and add them under Stakeholders.

Note: Salaries apply to individual people. Companies, trusts and joint holders don't carry a salary, so use a Fixed $ reward for those stakeholders instead of a percentage.

Post a progress update

1. Go to Bonus → Bonus plans and click Update progress on an ongoing bonus.

2. Enter the Progress value and the As at date.

3. Leave Send update ticked to email the team and move the number on their bonus card. It's on by default, untick it for a silent correction.

4. Click Save progress.

What happens next

Everyone on the bonus sees the updated figure on their bonus card in Cake, on desktop or mobile, along with how far they are from the next tier. Cake keeps the record of who is owed what and when. No money moves through Cake, you pay the bonus in your normal payroll run.

Still need help?

Contact our support team via the chat and we'll help you out.