Overview of Formulas for Compensation Plans

Use compensation formulas in your application when you perform these actions:

• Specify compensation worksheet default values

• Refresh or process specific employees only

• Define how local currency is determined for a plan component

• Create unique hierarchies for compensation

This table introduces the types of formulas that you use within your compensation application.

Formula Type	Description	Example
Compensation Currency Selection	Confirm the currency associated with a workforce compensation component.	Verify the currency of a plan based on a component ID.
Compensation Default and Override	Alter the default values populated in a column for a workforce compensation plan.	Truncate a salary amount so there are four decimals.
Compensation Hierarchy Determination	Locate the hierarchy for an associated workforce compensation plan.	Find the name of an employee's manager using an assignment ID.
Compensation Person Selection	Verify the person selected for an associated workforce compensation plan.	Check if a person is eligible to be paid by a specific legislative data group.
Total Compensation Item Formula	Access compensation information that isn't stored in the other predefined item source types.	Return multiple variables including a person's ID, their start date, and their end date.