SAP SuccessFactors Compensation is a form-based system. For every compensation cycle, a Compensation Plan Template is created. The template combines all the elements necessary for compensation planning, such as functional currency, exchange rates, benchmarks, rating sources, eligibility rules, guidelines, and budgets.
The template is given a name that quickly identifies it. For example, you might call a template 20xx Compensation Plan. This template is then used to generate the compensation planning forms.
When a form is launched, it is routed to the person responsible for planning the compensation for a specific group of people. The form contains compensation data and links to SAP SuccessFactors Employee Profile or Employee Central data only for that group. The form is named for the person responsible for the planning. For example, 20xx Compensation Plan for Carla Grant (cgrant).
To maintain data integrity, it is essential that a new template is created for each new compensation cycle. In SAP SuccessFactors, this template may be cloned from a previous template. Cloning maintains all the earlier configuration decisions and simplifies the process. Other supporting items, such as currency conversion rates, lookup tables, and pay ranges, may need to be copied and modified.
Once a compensation form is completed, it is approved according to a process configured in the system through the route map.