Use this screen to establish your company-wide compensation plans. You can define each plan's overall compensation structure. Establish the actual compensation (salary) structure in the Compensation Plan Salary Ranges screen, based on the parameters set up in this screen. Supported plan types are "Min-Mid-Max," "Quartile," and "Step."
Set up this screen as part of your Costpoint initialization.
Use the fields in this group box to establish a unique identification for your plan(s).
Enter up to 12 alphanumeric characters to uniquely identify this compensation plan. This is a required field.
Enter up to 30 alphanumeric characters as a description for this Compensation Plan Code. This is a required field.
Use this group box to select which type of salary table will be used for setting up each compensation plan. Three types of salary tables are supported: Step, Min-Mid-Max (also referred to as a "Grade" plan) and Quartile. Once you have set up a compensation plan in this screen, you will use the Compensation Plan Salary Ranges screen to define the specifics of the salary table type you have selected here.
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.
Select this radio button if your compensation plan requires that salaries be within grades relative to Min-Mid-Max amounts. If you select this radio button, the Number of Columns field will display "3," and Col 1, Col 2, and Col 3 in the Column Titles group box will display "Min," "Mid," and "Max," respectively. Throughout the documentation, this type of compensation plan will be variously referred to as a "Min-Mid-Max" plan or as a "Grade" plan.
Select this radio button if your compensation plan establishes salaries that are within grades relative to four ranges, represented by five columns. If you select this radio button, the Number of Columns field will display "5," and Col 1, Col 2, Col 3, Col 4, and Col 5 in the Column Titles group box will display "Q1 Start," "Q2 Start," "Q3 Start," "Q4 Start," and "Max," respectively.
Select this radio button if your compensation plan consists of compensation equal to step amounts. If you select this radio button, you will need to enter the number of columns and column titles in the designated fields.
This editable drop-down box holds 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 will default to "3." If you selected Quartile, this field will default to "5." If you selected Step, select the value that represents the number of columns you want to use for the salary table.
You can 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 will default to "Q1 Start," Q2 Start," "Q3 Start," "Q4 Start," and "Max," respectively.
If you selected Step in the Plan Type group box, you can define up to 10 columns, depending on the number of columns you selected in the Number of Columns drop-down box. The descriptions that you enter for these columns will 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 will display here.
Changes to this screen update the COMP_PLAN_SETUP table.