Compensation Planning Functions & Features

Planning for base salary, bonus, and award programs includes development of guidelines, eligibility rules, award ranges, market reference points, etc.. Compensation Planning Functions & Features are an important module of the comprehensive HCM RFP Template.

The HCM RFP template with Compensation Planning Functions & Features for HCM is a Microsoft Excel spreadsheet (.xlsx) featuring a total of 1430 decision criteria. The HCM RFP template allows you to quickly and easily prepare the business, functional, and technical requirements sections of the solicitation package you'll send to HCM software vendors. It ensures for:

complete response from each HCM software vendor
deep and accurate evaluation of submitted HCM proposals
impartial side-by-side comparison of HCM solutions evaluated
rational and documented selection of the best matching HCM system

The HCM software comparison report can save you up to 90% of the time you would have otherwise spent comparing all the HCM solutions from scratch.

Download Now!

The Compensation Planning Functions & Features comprise the following elements:

Manage multiple plan models or eligible groups
Compensation plans for base salary, bonus or incentive are managed. Different employee or geographic groups can be assigned to any compensation plans. Manage multiple plan models or eligible groups, Compensation Planning Functions & Features
Set filters for planning against subsets of the total employee population
Company-defined criteria for filters can include such things as department, job, grade, eligibility or performance. Set filters for planning against subsets of the total employee population, Compensation Planning Functions & Features
Store and update base salary, bonus, and award ranges by pay grade(s), or employee group
Defined ranges are stored for application in the compensation award process. Ranges may be updated by factors across the board or individually to reflect market conditions. Store and update base salary, bonus, and award ranges by pay grade(s), or employee group, Compensation Planning Functions & Features
Eligibility rules may be defined for multiple plans
Align eligible groups to designated plans; establish rules for individual employee eligibility (i.e. length of service) Eligibility rules may be defined for multiple plans, Compensation Planning Functions & Features
Set compensation plan effective period or time parameters
A discrete performance cycle limits the participation of an employee to a specific performance period. It is not connected to past or forthcoming performance periods. Set compensation plan effective period or time parameters, Compensation Planning Functions & Features
Planning for exempt employees
Planning for exempt employees, Compensation Planning Functions & Features

TEC Advisor can save you up to 90% of the time you would have otherwise spent figuring out on your own which HCM solution is the best for your needs.

Compare Now!

*Your email will be your user name

I agree to receive TEC newsletters, e-mail alerts and other relevant e-mails from TEC and other firms contributing to and supporting this free information. I can withdraw my consent at any time.

Already have a TEC account? Log in here

Please sign into your TEC account.

New to TEC? Create an account now.

Forgotten password? Send password

Please tell us more about yourself so we can send you the most relevant research from our library directly to your inbox.

Please enter a valid Email Address

Compensation Planning Functions & Features

Manage multiple plan models or eligible groups

Set filters for planning against subsets of the total employee population

Store and update base salary, bonus, and award ranges by pay grade(s), or employee group

Eligibility rules may be defined for multiple plans

Set compensation plan effective period or time parameters

Planning for exempt employees