Costpoint Online Help

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Contents of the Manage Compensation Plans Screen

Use the fields and options to configure the Manage Compensation Plans screen.

Identification

Use the fields in this group box to establish a unique identification for your plans.

Field Description
Compensation Plan Code

Enter a unique code to identify this compensation plan.

Description

Enter a description for the compensation plan code.

Plan Details

Field Description
Plan Type

From the drop-down list, Select which type of salary table to use for setting up each compensation plan. Valid options are:

  • Min-Mid-Max: Select this option if your compensation plan requires that salaries be within grades relative to Min-Mid-Max amounts. If you select this option, the Number of Columns field displays 3, and Col 1, Col 2 , and Col 3 in the Column Titles group box display Min, Mid, and Max, respectively. Throughout the documentation, this type of compensation plan is variously referred to as a Min-Mid-Max plan or as a Grade plan.
  • Quartile: Select this option if your compensation plan establishes salaries that are within grades relative to four ranges, represented by five columns. If you select this option, the Number of Columns field displays 5, and Col 1, Col 2, Col 3, Col 4 , and Col 5 in the Column Titles group box display Q1 Start, Q2 Start, Q3 Start, Q4 Start, and Max, respectively.
  • Step: Select this option if your compensation plan consists of compensation equal to step amounts. If you select this option, you must enter the number of columns and column titles in the designated fields.

After you have set up a compensation plan, use the Manage Compensation Plan Salary Ranges screen to define the specifics of the salary table type selected in this screen.

A Step table defines compensation as equal to the specific "step" amount. A Min-Mid-Max salary table (or Grade plan table) is used to define compensation that is within specified "minimum/maximum" amounts. You can set this up as "grades" with associated Min-Mid-Max columns. A Quartile salary table defines compensation with four ranges, represented by five columns.

Number of Columns

This drop-down list displays numeric values of 1 through 10, to determine how many columns are needed to build the salary table for this compensation plan. If you selected Min-Mid-Max as your Plan Type, this field defaults to 3. If you selected Quartile, this field defaults to 5. If you selected Step, select the value that represents the number of columns you want to use for the salary table.

Column Titles

Use this group box to enter the column titles for this compensation plan. If you selected Min-Mid-Max for your Plan Type, the first three fields will default to Min, Mid, and Max, respectively. If you selected Quartile for your Plan Type, the first five columns default to Q1 Start, Q2 Start, Q3 Start, Q4 Start, and Max, respectively.

Field Description
Column 1 - 10

If you selected Step in the Plan Type group box, you can define a maximum of 10 columns, depending on the number of columns you selected in the Number of Columns drop-down list. The descriptions that you enter for these columns appear throughout this module whenever this compensation plan is being used.

If you selected Min-Mid-Max or Quartile in the Plan Type group box, see the information under Column Titles for the default values that display here.