Defining special incentive pay components

Use this procedure to define a pay component for special incentives.

After you create the pay component, managers can request special incentives for their direct reports from the Compensation Summary area within the Manager Space.

  1. Select Compensation > Set Up > Incentive Compensation.
  2. On the Pay Components tab, select Actions > Create Special Incentive Component.
  3. Specify this information:
    Effective Date

    Specify a date when the pay component can be selected by managers.

    Pay Component

    Type a short and long description for the pay component. For example, Revenue Component or Key Performance Indicators Component.

    Active

    Select this check box to Indicate that the pay component is active.

    Pay Code

    Optionally, select a pay code.

    This field is for information only, and can be interfaced to a payroll application.

    Category

    Optionally, use this field to further categorize or describe the component.

    If this field is specified, it is defaulted on the compensation program pay component. From there it is displayed on the employee compensation program and then displayed on the enrollment summary form for the resource.

  4. Click Save.