This activity is used to define Compensation Types. You can list the individual Compensation Types that should be included in the list.
You can select from a list of the Compensation Types defined here when
registering and modifying compensation records in the Compensation
tab within the Employee File page or in the Employee
Salary Information page.
Compensation types can be
added, edited, deleted, duplicated, or made active/blocked.
Any
Compensation Types, including Base Salary or any other types such as bonuses
or commissions can be defined here.
A Base Salary Compensation Type must be defined as such by turning on the toggle switch in the ‘Base Salary’ field.There can only be one Base Salary Compensation Type defined. A Base Salary Compensation Type cannot be deleted or Blocked after saved.
Dependent Compensation Types are compensation types that can be
calculated as a percentage of a Base Salary. These can be defined by turning
on the toggle switch in the ‘Calculate from Base Salary’ field.
A default
percentage can be defined for dependent compensation types in the
‘Percentage’ Field.
If you wish to keep the default percentage of a dependent compensation
type editable when saving compensation records in the Compensation tab
within the Employee File or in the Employee Salary Information pages, turn
the toggle switch on in the ‘Change Default Percentage’ field. If you wish
to lock the default percentage to prevent any changes to the percentage of a
dependent compensation in the pages mentioned above, turn off the toggle
switch.
If you wish to include this Compensation Type in the Salary
Increment Budget calculation, turn on the toggle switch in the ‘Include in
Budget’ field.
If you require this Compensation Type to be displayed
in the Salary Review, turn on the toggle switch in the ‘Show in Salary
Review’ field.
There are no prerequisites.
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