Understanding Salary Package Modelling
Salary package modelling enables you to explore different package scenarios to find satisfactory solutions and alternatives for employee salary packages. You can save and report on any number of package variations during the modelling process.
Modelling occurs at the employee level and is an employee-specific process. If you're modelling packages for employees, use the Employee Salary Package pages. If you're using PeopleSoft Talent Acquisition Manager, you can also model salary packages for applicants using the Applicant Model pages.
After you decide on one model that works best for both employer and employee, confirm and enrol that package.
Note: You cannot begin modelling with Administer Salary Packaging until you have defined all of the different base components and additional components that support your remuneration offerings. Before you start the modelling process, review your components and additional components on the Employee Salary Packaging component to understand the different calculations that occur during the modelling process.
Field or Control |
Description |
|---|---|
Total Employment Cost (TEC) |
Displays the value of salary packages at two different levels. This level represents the cost to the employer. |
Total Package Value (TPV) |
Displays the value of salary packages at two different levels. This level represents the value to the employee. |
Model Number |
Enables you to model several packages and package scenarios that share the same effective date. Set a unique increment for the model number to number each package modelled with the same effective date. When you use the same effective date, the model number automatically increments. |
Package Status |
Indicates whether you are working with a salary package that is proposed (planned), current (existing), or history (finalized). When you first begin modelling a package for an employee, the system automatically sets the status to proposed. After you've confirmed and enrolled a package for an employee, the system changes the status to current. When the status is history, you're looking at an employee package that has been confirmed and enrolled, but is no longer in effect. |