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Process for Creating Stand-Alone Plan Elements
The following section describes the process an administrator might follow to create the stand-alone elements of a compensation plan. Your company may follow a different process according to its business requirements.
Administrator Process
The administrator performs the following procedures when defining stand-alone elements.
- Creates a Plan. The administrator creates the compensation plan record. For more information, see Creating a Compensation Plan.
- Creates a Cap. The administrator defines the cap the company will use to limit the amount of compensation that employees can earn in a given period. For more information, see Creating a Cap.
- Creates a Filter. The administrator creates a filter to restrict calculations to those that meet a specified criterion based on account, revenue type, or other objects configured using Siebel Tools. Incentive compensation filters can be inclusive or exclusive. For more information, see Creating a Filter.
- Creates a Hurdle. The administrator defines the hurdles, which identify the criteria that must be attained before payout is made. For more information, see Creating a Hurdle.
- Creates Rules. The administrator creates rules which define variable compensation such as commission, bonus, and nonmonetary compensation. For more information, see Incentive Compensation Measures and Rules and Creating a Rule.
- Defines the Plan Rule. The administrator creates a plan rule by associating rules with a plan. For more information, see Creating a Plan Rule.
- Creates a Stand-Alone Rule Rate Table. The administrator creates a rule rate table and rate table definition for each rule. For more information, see Creating a Stand-Alone Rule Rate Table.
- Creates a Quota. The administrator defines the quota targets (expected sales) for the sales representative or sales team. For more information, see Creating a Stand-Alone Quota.
- Creates Compensation Groups and add members. The administrator creates groups with participants for a compensation plan. For more information, see Creating a Compensation Group and Adding Members.
- Creates recognition awards. The administrator creates recognition awards for sales representatives for sales results or cumulative achievement over a longer time. The rewards are usually noncash items such as trips, merchandise awards based on points earned, plaques, pins, and other prizes. For more information, see Creating a Recognition Award.
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Siebel Incentive Compensation Administration Guide Published: 18 April 2003 |