When the Salary Review Plan is generated and approved,
a suggested increment amount per employee will be auto generated.
Salary Setting Manager can use the insights that are provided
and explained in the previous activities.
The Employees Performance History details are to adjust
or enter increments per employee.
The Increment Amount and Increment % are editable fields.
It is auto-calculated according to what you enter. If Increment Amount is entered,
then Increment % but if Increment % is entered then Increment Amount. This Increment
Amount will include potions of both Base Salary and Variable Salary amounts
that is included in the Budget.
When the increment amount is entered, it will be used to
calculate the New Base Salary, New Variable Salary and New Salary of the Employee.
Based on these new amounts the New Compa-ratio and New Range Penetration will
get calculated.
If the entered Increment amount is not within the allocated
budget of the company, then in the budget information section there will be
a warning message as “Budget Exceeds” and will view the remaining budget
in minus figures.
If any of the employees has a Fixed Increment set in the
Salary Review Plan, the user will not be able to enter a new increment amount
for that employee in Salary Review.
If any employee is set for a Minimum Increment in the Salary
Review Plan, then the user can only change the increment to any higher value
than the Minimum Increment.
In the Employee section, all the responsible employees
will be visible to the Salary Setting Manager regardless of whether they are
included or not in the salary review. But the manager can only give an increment
amount for the employees who are set as In Salary Review to “Yes”. If
Salary Setting Manager needs to include an employee who is excluded from the
Salary Review Plan, then use the “Include to Salary Review” option to include
that employee in the salary review.
To perform this task a Salary Review
Plan needs to be generated for the company.
By performing this activity there will be New Salary Amount
and New Variable Salary Amounts recommended for the employee.