Setup and maintain

You need administrator-level access to setup and maintain Compensation Planning.

Compensation Planning is supplied as a separate package, supported by dedicated Permission Sets for HR Administrator, HR Manager, and Team Member. After installation and checking some basic data requirements you can change default field labels to conform to the needs of your organization. Distribution of salary and bonus awards is controlled by formulas - you can set up formulas to define:

  • How an award is calculated.

  • Who is eligible to receive an award.

  • Who you want to exclude from a plan.

  • How the bonusable salary is derived for calculating bonus awards.

You can have multiple versions of the formulas stored on the Employment Record object, linking all or a sub-set to Compensation Planning. You can then choose from the linked formulas when defining an individual plan.

Defining a Plan involves:

  • Providing some basic information: a name for the Plan, start and end dates, and the Plan type - salary, bonus, or both.

  • Deciding if you need to display additional fields to provide more information for your Planners, and adding them to the Plan.

  • Choosing the formulas you want to use for the Plan, from those you have linked.

  • Choosing the Planners who are going to contribute to the Plan and the person who is to submit the final, completed Plan.

  • Making the Plan available to your Planners through the self-service WX portal.

Note

Fields on the Policy page in the Compensation Plan section apply to the WX salary and bonus planning feature which has now been superseded by Compensation Planning. Compensation Plan policy fields have no effect on Compensation Planning.

Compensation Planning includes tools to help you monitor and maintain your implementation:

  • Add Tabs and Related Lists to HR Manager portal pages to give HR Managers access to Plan data for their Team Members.

  • Monitor the status of all Plans beyond draft stage with the Plan Summary page. See View the Plan Summary page

  • View changes made to a Plan once it has been made available to Planners with the Change History page. See View Plan history.

  • Clone Plans to simplify and accelerate Plan creation. See Clone a Plan.

  • Refresh Plans in progress with updated information - typically to reflect changes made to Team Member records, or to formulas. See Refresh a Plan.

  • Delete unwanted, uncommitted Plans direct from the Compensation Planning home page. See Delete a Plan.

  • Approve and commit Plans so that salary and bonus records can be created.