Understanding Matrix Types

This section discusses the three types of matrices you can create using the configurable matrices feature.

• Market pay matrix

  This matrix captures market pay information for a given job. The market pay matrix can then be associated with specific job codes by using the Associate Mkt Pay to Job Codes page (Set Up HCM, and then Product Related, and then Compensation, and then Market Pay, and then Associate Mkt Pay to Job Codes). You can also associate the matrix directly on the Market Pay Match page of the Job Code Table component (Set Up HCM, and then Foundation Tables, and then Job Attributes, and then Job Code Table, and then Market Pay Match).

• Rate matrix

  This matrix is used to store compensation rates based on multiple criteria. You can then associate a rate matrix to a rate code defined on the Comp Rate Code Table page (Set Up HCM, and then Foundation Tables, and then Compensation Rules, and then Comp Rate Code Table). The rate matrix can return compensation rates that are directly listed in the matrix or derived using formula-based result IDs.

• Salary increase matrix

  This matrix is used to store the salary increase guidelines, as percentages of base salary. These guidelines are usually based on the worker's performance ratings and ratios, such as Compa-Ratio and Percent-In-Range. You can attach this matrix to specific rate codes in a group budget (Compensation, and then Base Compensation, and then Group Budgets, and then Create/Approve Group Budget, and then Budget Components). When calculating the budget, the system applies the appropriate increases to workers based on the criteria in the matrix.

  Note:

  Depending upon the page, you can only associate a specific type of matrix to that page. For example, the system will only retrieve rate matrices when searching on a rate code definition page. Similarly, you can only associate market pay matrices to a job code.

Important:

You cannot associate configurable matrices to seniority pay rate codes.

See PeopleSoft Human Resources Administer Compensation: Comp Rate Code Table Page.

See Understanding the Base Compensation Budgeting and Planning Business Process.