If you would like to find out more, or have any questions about the GSTIP which are not covered, including details on eligibility, tax, calculation or payment, please speak to your local contact by clicking here.
GSTIP stands for Global Short Term Incentive Plan and will often be referred to as annual bonus. If you are in a sales role, you are likely to receive commission instead of bonus.
The plan year is the same as our company financial year. It starts on 1 April and ends on 31 March of each year.
Your bonus target amount is based on your band and local market, whilst your framework is based on your local market/function and will normally follow your reporting line.
If you require any clarity on the bonus applicable to you, please speak to your line manager or local market contact.
As long as you are employed on or before 1 March, you will be eligible for the annual bonus. You are entitled to a pro-rata bonus if you have not been employed/eligible for a bonus for the full financial year.
Subject to any local legal requirements to the contrary, if you are employed by Vodafone on the payment day you will receive your bonus, even if you have resigned.
If you have any questions regarding legal requirements in your market, please check with your local contact using the email address above.
Your bonus will be calculated based on your salary at the end of the performance year. For employees promoted within the year where the target bonus has increased in the new promoted role your bonus is prorated to reflect the time spent at each target bonus level.
If you move to a new market or business area during the performance year where your bonus is subject to different performance measures or weightings, these will be applied from the day of the move.
If you change hours during the performance year, your bonus will be calculated on total paid time worked over the year based on annual base salary as at the end of the relevant financial year.
We’ll be able to let you know how the business has performed against its targets after the Vodafone Group financial results have been announced in May following the end of the financial year. Assuming the company has achieved its minimum performance requirements, the GSTIP will be calculated in May and paid in June following the end of the plan year. Any payments will be subject to normal deductions and won’t form part of your pensionable earnings.
Your manager will discuss the outcome of the reward review with you as part of your year-end conversation prior to the bonus payroll date.
Your salary as at 31 March (not including any other fixed payment) will be used to calculate the GSTIP payment. This will be based on the total paid time worked over the plan year. This salary will be used even if you have changed employing entity over the plan year.
You’ll continue to participate in the GSTIP Plan whilst you are on such leave. Any payment will be pro-rated and based on your paid service during the plan year.
You are entitled to a pro-rata bonus if you are eligible for a bonus for only part of the performance year.
If you begin the performance year eligible for the annual bonus and then move to a commissions role, your bonus payout will be based on your non-sales role immediately prior to changing role (i.e. 31 March salary is not used in this situation).
Please review your individual market page to understand how bonuses are calculated (i.e. base salary x target bonus % x business multiplier of 0%-200% x individual impact). The percentage used in your bonus calculation is a percentage of target outcome (0%-200%). You may also see “% of maximum” in end of year communication and this is to show how we have performed against maximum potential to drive a culture where we aim and measure ourselves against the maximum level that we can achieve.
Grow my Impact includes a minimum performance standard. If you do not meet the standard you will not receive a GSTIP.
To comply with the standard, you must meet two conditions:
- Complete assigned global and, if applicable, local mandatory training.
- Did not receive a final written warning or local equivalent within the financial year.
There will be a potential for a 10% or 25% uplift or reduction depending on the Impact rating you receive.
This is as follows:
- Outstanding - 25% uplift
- Well Done - your manager will have the option to uplift or reduce your bonus by 10%. The default option will be no change.
- More Impact Needed - 25% reduction.
Irrespective of the impact rating received, you will not receive a GSTIP if you have not met the minimum performance standards of your market.
Training assigned to you will appear on your Grow your Learning homepage, you can also see training you have completed in your learning history. If you are overdue on any of the required compliance training at the end of the financial year you will not be eligible for your bonus.
You will also receive email reminders on overdue learning from the Grow platform.
If you would like to find out more, or have any questions about the GSTIP which are not covered above, including details on eligibility, tax, calculation or payment, please reach out to your local contact:
Europe & Americas: