Setting Up Compensation

Each year, before your compensation cycle begins, you will create a new plan by copying the previous cycle’s compensation plan or uploading a new template. Creating a new plan ensures that review functions will contain data specific to the cycle and keeps historical data from prior years intact.

To copy a plan, select the copy icon to the right of the plan name.

Aside from cloning existing plans, administrators can also import XML templates or use pre-configured templates from SuccessStore. SuccessStore templates are based on configuration leading practices. The templates available in SuccessStore are Salary Planning, LTI (Long Term Incentive) Planning, and Salary Planning with EC Integration.

The configuration tools required for managing compensation are segregated by tabs. The Plan Setup tab includes all the tools and rules needed to design the plan template. The Manage Worksheets tab has the tool to mass launch and update forms while the Complete Compensation Cycle tab refers to end of cycle tools such as launching reward statements.

When you select a plan to manage, the system displays a dashboard providing an overview of the status of that plan. Within Plan Setup you will configure all the elements necessary for compensation planning. The Plan Setup has these major sections: Settings, Design Worksheet, Plan Details, and Manage Users.

• Creating New Plans: Each year, before the compensation cycle begins, create a new plan by copying the previous cycle's plan or uploading a new template, ensuring cycle-specific data and preserving historical data.

• Template Options: Administrators can clone existing plans, import XML templates, or utilize pre-configured templates from SuccessStore, including Salary Planning, LTI Planning, and Salary Planning with EC Integration, based on leading practices.

• Configuration Tools: Management tools are organized into tabs: Plan Setup for designing templates, Manage Worksheets for mass launching and updating forms, and Complete Compensation Cycle for end-of-cycle tasks like launching reward statements.

• Plan Setup Overview: Selecting a plan to manage displays a dashboard overview; the Plan Setup tab includes sections such as Settings, Design Worksheet, Plan Details, and Manage Users, providing comprehensive configuration for compensation planning.