Overview of Individual Compensation

You can let managers and specialists award compensation outside of the regular compensation cycle. For example, a line manager can give someone a spot bonus or grant stock shares. And a compensation manager can give people education reimbursements.

You can also let people make and change their own contributions to charitable or savings plans. These off-cycle allocations and contributions require appropriate payroll elements and individual compensation plans.

• The payroll element communicates the payment or distribution details to payroll for processing. For example, a company car plan has options with different compensation amounts for various mileage ranges. A spots bonus plan has options with different fixed monetary amounts.
• The plan includes at least one option that links the payroll element to the plan. It also decides when payments start and end, the people eligible for the plan, and when people can access the plan. For example, a car allowance plan has multiple options for monthly payments starting January 1 and ending December 31 according to mileage ranges. People in field sales and service jobs are eligible for the plan, and managers can award compensation when they hire, transfer, and promote people.

You can also let people view nonmonetary awards by adding the relevant plans to compensation history. To let them view their payment and contribution history, add the payroll elements linked to the plans that have recurring payments or contributions.