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.