Overview of Creating a Total Compensation Statement
Configure the design, content, and delivery of a total compensation statement that includes pay such as base pay, variable compensation, fringe benefits, cost of benefits, and paid time off.
The following figure shows the construction of a total compensation statement and how it displays items and categories.
To construct a total compensation statement, application implementors and compensation administrators:
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Define compensation items that map to sources of estimated or actual amounts paid to workers or costs incurred by the company.
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Arrange compensation items into categories such as cash compensation, base pay, benefits, or company stock.
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Assemble categories into statement definitions.
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Top-level categories in the statement definition appear in the optional summary page and as separate pages in the statement.
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Display category details on a single page or enable recipients to drill to details in the statement.
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Configure optional graphical displays of data, worker instructions, and supplemental information such as compensation policies or benefit plan details.
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Define periods for which statement data is valid and add an optional welcome message for each period.
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Configure settings that control statement availability and the default stock price and currency used for estimated values.
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Generate statements by selected population filters, including manager hierarchy, for review by compensation manager.
- Monitor process logs.
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Make statements available for workers to view.
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Purge unneeded statements and monitor processes with summary and detailed online reports.
To define total compensation statements, use the Total Compensation Statements task list in the Compensation work area.