Compensation overview

Compensation provides a total compensation process that includes:

  • Compensation planning and administration:
    • Modeling and calculating of merit and promotional pools (in form of salary, bonuses, and/or equity)
    • Automating market adjustments to salaries of resources associated with salary structures
    • Automating of the awarding and approval process
    • Automatic updating of employees’ pay rates and lump-sum payments.
  • Support for incentive compensation including:
    • Linking organizational goals and strategies to individual pay for performance
    • Incentive compensation based on both external and internal measurements
    • Multiple pay frequencies and currencies assigned to different pay components
  • Support for complex salary structures, including:
    • Quartile
    • Quintile
    • Geographic differentials
  • Rate Progression rules for step and grade schedules, including rules based on:
    • Length of time
    • Performance rating
    • Hours threshold
    • Waiting period rules
  • Rules-based compensation with effective dating, cap, and threshold setting.
  • A resource can be in multiple compensation programs at the same time, independent of plan start and end dates.
  • A method to collect compensation data for market survey providers.
  • Integration with Performance Management
  • Ability to work with Infor Process Automation, which enables processes that route requests for approval.