While performance appraisal and merit pay are related processes, they are separate. Career progression, within or across job families or business units, is a key to the company successfully developing its human resources and being able to meet its business objectives. Variable Pay Variable pay, as was stated earlier, is an important element in Farmland's effort to be competitive in the market place at the level it wishes to be. Most employees are in non-sales variable pay plans which pay out annually if company or unit results are sufficiently high. Many employees occupy sales positions and may receive their variable pay in the form of quarterly or even monthly incentive payments based on mainly individual results.
All eligible employees are in a plan.
The company uses variable pay to manage costs, to share profits with employees, and to encourage employees to behave productively. In high performing years, the company, its owners cooperatives and producers, and its employees will benefit from the results. Job Posting Most open positions to be filled are posted publicly within the company. They detail the title, principal duties and job skill requirements, career band, and hiring range norm. Positions are posted using a standard range of pay opportunity relative to the market rate of the job, and hiring rate will depend upon the applicant's qualifications and the budget expectations of the hiring manager.