Assign both Merit and Bonus to an employee in the same compensation plan

Summary

As our annual performance time enhancement, we are trying to combine a merit and bonus plan together. The issue is that they are managed under two different budget and based on different ratings.

Content

As an enhancement to this year's Annual performance review, we are looking to combine the merit and bonus plan together.

It has been cumbersome for managers to update bonus in one plan and merit in the other so we want them to be able to just go to one plan to assign both.

One concern with this is that there are two different budgets given to the managers: Bonus budget and Merit Budget. Also Bonus uses the Goal rating but Merit uses combined calculated rating between Goal and competency.