- Using Common Features for HCM
- Spot Bonus and Stock Grant Plan Configuration
Spot Bonus and Stock Grant Plan Configuration
Here's how you create a plan to make a onetime spot bonus payment or stock grant.
- Create a payroll element that makes a onetime payment. Configure the element to process
once per payroll period and let managers enter the payment amount or grant
quantity.
Go to My Client Groups > Compensation > Elements.
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Create the plan.
- Go to My Client Groups > Compensation > Individual Compensation Plans.
- Add an option with the payroll element. For stock grants, be sure to set the nonmonetary units to Shares and select the grant type.
- Select a payment or grant start date. If it's present, leave the end date blank to indicate this is a onetime payment.
- Optionally, add an eligibility profile to limit the people that the plan applies to. For example, use derived factors to identify full-time people with a minimum service of 1 year as eligible for the spot bonus. Identify full-time people with a minimum service of 5 years as eligible for the stock grant.
- Restrict access to specific HR actions, such as Hire and Promote. Also add the Manage Individual Compensation action so that managers can award bonuses or grant stock to their people using the Individual Compensation action.
Stock grant records get the stock or trading symbol and grant type from the plan option. They get the grant date and number of shares granted from the element entries.