variable pay implementation using empxtrack
Post on 10-May-2015
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Detailed process and workflows
EmpXtrack Variable
Pay module
This presentation allows you to understand the Variable pay process as it
exists in EmpXtrack with the help of screen shots.
Main sections are:
– Configuration of variable pay rules
– Setup of variable pay time periods, goals, targets
– Creation of sheets and visibility by employees
– Capture of achievements
– Upload of achievements and calculation of variable pay
– View of individual pay
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Purpose and Sections
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• When employees achieve their targets, organizations meets their objectives
• Variable pay incentivizes target achievement
• Employee achievements can be on multiple parameters • Personal
• Team
• Department
• Company
• EmpXtrack variable pay module allows the setup of • Multiple targets
• Allocation of these to employees
• Capture of achievements
• Automatic calculation of variable pay handouts
Concept
Configuration of variable pay
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1. Setup workflow for approval of sheet
2. Setup access rules
3. Setup goal attributes
4. Setup weight rules
5. Setup goals for the plans
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Various options available for configuration
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Configurable workflow for
approval of the
plan.
Control access on visibility of
goals and
achievements
Flexibility in setup of different
attributes.
EmpXtrack allows complete flexibility in managing your variable pay process.
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• Setup a time period
• Setup frequency of payments (quarterly, half-yearly, annual)
• Identify the salary variable that will be used for variable pay calculations. Here the base salary is being used.
• Setup the applicability – i.e which employees will be applicable to this variable pay.
• Note: you can setup different variable pay plans for different group of employees.
Setup of variable plan
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In a variable plan, Goals can be of 4 types. This helps in easy capture of achievements
• Company goals. Achievements captured only once. This could include
goals such Revenue, Growth, Profitability, Certification, Customer acquisition and so on.
• Department goals. Achievements captured once for each department. All employees in the specific department will get the goal.
• Team goals. Achievements captured for each manager which is applied to every subordinate in the managers team
• Individual Goals. Achievements captured for each team member. Individual goals could include Appraisal score, Goalsheet achievement, attendance, Productivity, billing, 360 score, reward nominations and other employee related parameters
Create goals for the variable pay plan
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• Goals can be setup as Individual, department, company
• Setup the achievements and corresponding scores
• Add a description that illustrates the achievements such that employees can view it.
Setup goals
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• Three goals have been setup here based on the spreadsheet provided
• Each goal has a separate achievement and
corresponding mechanism to capture inputs
Setup the entire plan and initiate for all employees
Initiation of plan and capture results
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• The plans are created for each time period and can allow changes from the base plan. For instance you may have a more lenient rating for Q1 and Q2 and stricter norms for later periods
Variable plan can be initiated for each time period
• Initiation automatically picks up the employees
• When initiated employees get a message on initiation
• Employees can view their sheets in their performance section
• If workflows were allowed, employees or managers could have edited the sheets too
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Automatically share plan with employees
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• All employees are automatically selected
• Step 1. Download their variable plan sheets
• Step 2. Fill in values and upload the sheets
• Step 3. Calculate the results
• Employees can view values (based on settings)
Capture achievements. A 3 step process
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Step 1,2 : Download sheets for all employees and capture
achievements and upload the data
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• Each employee in the group is assigned 3 goals that were a part of the variable pay plan
• The achievements could be imported from the appraisal or input manually (based on modules procured)
• All values are captured and the sheet is uploaded for calculation of variable pay
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Step 3: On clicking calculate all variable pays are
calculated
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• And employee scorecards can be printed or viewed
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For a demo or more information please
contact us at http://www.empxtrack.com
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