Managing Fixed Values

Objective

After completing this lesson, you will be able to create a Fixed Value in SAP SuccessFactors Incentive Management.

Fixed Values

Fixed Values store static period-specific numeric values.

Fixed Values:

Can be effective dated, allowing you to create a new version when values change instead of versioning the entire plan or rule.
Can have a period type that allows you to preset values for different periods in a single record.
Can be referenced in many other objects, including Formulas, Rules, Rate Tables or Lookup Tables.

Let’s look at two examples in which Fixed Values can be used in a plan.

Scenario 1: Quarterly Bonus

Bikes In Motion pays a quarterly bonus of $1000 to all sales reps that meet their quarterly quota. The bonus is the same for each quarter, but it may be adjusted in the future. Storing the bonus in a fixed value allows you to create a new version of the bonus if the amount changes without having to change the compensation plan.

Scenario 2: Quarterly Sales Quota

While the bonus amount is the same for all quarters, sales of bikes are very seasonal, so the sales quota changes with the seasons. The quota is low in the first quarter of the year, when temperatures are cold in the US and Canada. In Q2, the weather is warmer, and bike shops are ordering stock for the Summer months. As a result, the quota will be much higher in Q2 and Q3. In Q4, the holiday gift-giving season may mean a high quota as well.

As a result, our quarterly sales quotas might look like this:

Q1: $175,000
Q2: $650,000
Q3: $850,000
Q4: $500,000

To make a fixed value periodic, set the period type to quarter. This will allow you to enter a separate entry field for each quarter.

ExerciseStart Exercise

Best Practices for Fixed Values

Only use a period specific fixed value if you are certain the Client does not allow that value to change mid-period. If they do, it is better to use a non-period specific Fixed Value, and add a new effective version when it changes.
In period specific fixed values, be sure to populate every period of the current fiscal year with a value (do not leave null) or it will create errors in the pipeline.
Have a process documented to ensure that fixed values are populated each year.

Exercise: Create Fixed Values

Create Fixed Values

In this exercise, you will create Fixed Values to contain the quarterly bonus and quarterly quotas for Sales Representatives.

Steps

Create Fixed Values to contain the quarterly bonus and quarterly quotas for Sales Representatives.
1. Create a Fixed Value to hold a $1000 quarterly bonus for Services sales.
  - Select Compensation Elements → Fixed Values in the Manage Plans tile.
  - Select Create.
  - Accept the Default Effective Dates.
  - Enter FV_Services_Bonus in the Name field.
  - Enter Quarterly Services Bonus in the Description field.
  - Select BikesInMotion for the Business Unit.
  - Leave the Period Type empty.
  - Enter the value $1000 and set the Unit Type to USD.
  - Select Create.
2. Create a Fixed Value to hold the quarterly quota amounts for the Sales Reps.
  - Select the Add icon.
  - Accept the Default Effective Dates.
  - Enter FV_Quarterly_Sales_Quota in the Name field.
  - Enter Quarterly Sales Quota in the Description field.
  - Select BikesInMotion for the Business Unit.
  - Set the Period Type to Quarter.
  - Enter the following values, setting the unit type to USD:
    - Q1: $175,000
    - Q2: $650,000
    - Q3: $850,000
    - Q4: $500,000
  - Select Save.

Summary

Fixed values store static, period-specific numeric values and can be effective dated, saving need for entire plan revision.
Fixed values can be referenced in other objects, significantly Formulas, Rules, Rate Tables or Lookup Tables.
As a best practice, populate all periods in a fixed value.

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