Performance Evaluation

Lyquix success is tied to the performance of its employees. For that reason, Lyquix has established this employee performance evaluation and incentive bonus policy to reward employee's individual contributions and make them participate in the overall company success.

Every calendar year, no later than January 31, the employee's supervisor will prepare the objectives for the employee using the Lyquix Goals and Evaluation template. The annual evaluation should be completed no later than January 31 of the following calendar year.

The goals and evaluation are broken down into three parts:

1. Quantitative Goals: a set of up to 5 SMART goals that define the most important tasks and achievements expected from the employee. The measurable result of these goals form the employee's individual performance score.
2. Lyquix Values: several attitudes and soft skills that Lyquix employees are expected to show during their employment. These are evaluated as "on target" or "needs improvement". While these don't affect the employee's individual performance score, consistent failure to meet Lyquix values is unacceptable.
3. Continuous Learning: every employee is expected to continuously expand and improve their knowledge and skills. This section list specific areas of knowledge that need to be improved and the method to be used (self-learning, on-the-job learning, workshop, or classroom training). These are evaluated as "completed" or "not completed". While these don't affect the employee's individual performance score, consistent failure to meet Lyquix values is unacceptable.

Individual Performance Score

• The score is a number that ranges from 0 to 1.5 (or 0% to 150%), and the score for an employee performing as expected is 1 (or 100%)
• The total score is the weighted sum of the scores of individual SMART goals
• There should be a minimum of 3 and a maximum of 5 goals on every evaluation.
• For each goal 3 measurement levels must be determined:
  • Target level, which gives a score of 100%
  • Maximum level, which gives a score of 150%
  • Minimum level, which gives a score of 0%
• Any intermediate results between minimum and target, or target and maximum will be calculated via simple proportion