This is the first step of the “New Salary Review Plan” assistant. This activity is used to identify the company and salary review plan basic information when generating a salary review plan.
Company and Plan Details
Company
Select the company you wish to create a
salary review plan. This list of values will list all the companies you have
access to (the logged in user). However, if you do not have access to all
the employees of the company, the solution will give a warning toast.
Review Period
The Review Periods are defined at the
basic data page “Salary Review Periods”. Depending on the organization
requirement this period can be defined to specify the timeline of the salary
review or the timeline the suggested salaries will be in effect. This is
simply an indication and not used as a validation anywhere.
Review Plan Name
This is the name of the Salary
Review Plan you are creating. The Solution auto suggests a name when you
enter the company and the review period. However, you can edit this record.
If there is an existing salary review plan with the same name as the
auto suggested name, the solution will then add a versioning towards the end
of the name. (Example ABC Company 2022 V1)
Salary Plan Snapshot Date
The Snapshot date Is used
to select the correct compensation records of employees from the employee
file.
Example – If an employee has many Base salary records with
different amounts that was paid over a period, the base salary record valid
for the snapshot date will be considered for the salary review.
Further,
it is used to get the currency conversion rates to convert any salary record
recorded in a currency other than the company currency.
Salary Period
Employee salaries (Compensation Types)
can be recorded considering different Salary periods. Some salaries are
recorded based on the annual salary, some based on the monthly while some
get paid based on a daily wage. When generating a salary review plan, it is
required to bring all the values to a common salary period. Using this
field, you can select the salary period used to generate the salary review
plan.
Exclude List
The Exclude List Criteria defined using
the Exclude list criteria basic data page can be picked using this list of
values. Based on the exclude criteria you select, the employees considered
for the created salary review plan will generate.
Effective Date
Once the increments are proposed and
new salaries are finalized, the solution will use this date as the start
date of the new salaries of employees.
The Effective can be changed
employee wise during the salary review planning and the salary review
processes.
In order to perform this activity:
N/A