Compensation Management allows the user to define any number of Allowances, Earnings, Bonuses, Commissions, Benefits, Deductions, Expenses and even Piecework rules which will be used when defining the Compensation Plan of Employees. By creating a logical link with specific Employee Groups, the user will enable the system to automate assigning of specific Policies based on Employee Groups and/or Organization Units. As a result, new Employees will automatically inherit the correct policies and HR/Payroll staff will only need to worry about exceptions when they setup new Employees for Payroll.
Powerful calculation methods, including an Expression Builder can be used, in addition to Rate Tables and standard features to define the calculation of specific Compensation Policies to achieve maximum automation.
Compensation management is integrated with the Grades and Steps defined under Position Budgeting or can be used in conjunction with the Hay Job Evaluation which will define the correct salary range for Employees based on the Hay Job Evaluation outcome.