Administer Compensation Business Processes
Administer Compensation provides the following business processes:
Defining Compensation Rates and Rules-Driven Component Defaulting.
Set up flexible defaulting rules that automatically update an employee's compensation package based on field values other than job code and salary step code.
Using wage progression.
Define salary plans with wage progression rules.
Administering Seniority Pay.
Add and update seniority rate codes in employees' compensation pages. Seniority rate codes enable you to pay a premium for seniority.
Refreshing Employee Compensation Information.
Update employee compensation packages based on current values in the system, replacing manual changes with new default values.
Using Market Pay.
Capture market pay data to represent the conclusion of a job valuation or market pricing business processes.
Implementing Total Rewards statements.
Set up and generate total rewards statements to show the total value of employee’s compensation (both salary and benefits) in one central place.
We discuss these business processes in the business process topics in this product documentation.