Variable Pay program is configured during the initial implementation. To prepare for the next cycle, the administrator first copies the previous period’s planning template and renames it to the current period. Then he or she updates the source data including rating sources, business goals, bonus plans, eligibility rules, budgets and guidelines. Most important, he or she should import employees’ history data.
Creating a new plan ensures that review functions will contain data specific to the cycle and keeps historical data from prior years intact.
Note
It is best practice to create the Variable Pay plan in your test instance so you can complete a full end-to-end testing cycle to ensure your changes are working as expected. Start with the final Variable Pay plan from the previous cycle.
Copying the Plan
To copy a plan, click on the copy icon located in the Plan list. Provide the necessary changes such as new plan name, new program dates, and data files.
Compensation worksheet eligibility (form eligibility), Performance Rating Source for Individual and/or Team Performance can be copied during the cloning process but can be modified in the Set Bonus Calculation section.
When copying a plan admins can also update lookup table references, if any.