Options in an Individual Compensation Plan Configuration

Each individual compensation plan needs at least one option. You can set up a nonmonetary option, such as grant stock shares, or a monetary option. Link a payroll element, and optionally select a budget pool and request or require attachments.

When you create the option, you need to select the appropriate payroll element. You can select one element per legislative data group. So you can link an option to multiple elements only when the element legislative data groups are different. Proposers see the input values configured for the element when they select the option while allocating compensation or contribution. The monetary amounts that they propose are in the currency of the element. On pages that include the currency switcher, people viewing the proposed amounts can see them in their preferred currency.

Caution: Make sure that salary bases don't use the element selected for the option. Using the same element across compensation objects can lead to payroll conflicts. It can also lead to unexpected deletions of salary or individual compensation.

You can optionally select a budget pool to let managers track off-cycle and on-cycle awards.

You can also request or require that proposers attach a specific document type to help approvers decide whether to approve or reject proposed plan allocations. For example, set up a vehicle allowance option to require a vehicle details document. The documents get retained in people's document records for future reference.

The document settings affect all flows except Offer flows. Currently people can't add attachments in the Offer flows, so the flows ignore any option document settings configured for the individual compensation plan.