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Understanding Tiers on Employee Attribute - Value in Wages
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The Tiers on Employee Attribute – Value in % Wages compensation basis can be used to build an employee benefit plan tier structure and specify the compensation value as a % of Wages.
Here are the different options available once you select the Value in % Wages compensation basis:
The following are the options available under the Compensation Payment option:
Recurring
This option is used when employees will receive compensation money regularly. The following are different options available:- Every Month: Select this option if employees will receive compensation money on a monthly basis.
- Based on Hire Month: Select this option if employees will receive compensation based on the month they are hired. For example, this can be used when employees are not eligible for certain benefits until they've been employed for 6 months.
- Based on Position Start Month: Select this option when employees will receive compensation based on the month they started working. This is particularly useful when certain benefits become available only after a specific period on the job, such as 6 months, and accommodates delayed start dates.
- Month: Select any of the months within the list as the payment month.
One Time
This option is used for one-time compensation payments. The following are different options available:
- Based on Hire Month: Select this if employees will receive compensation based on the month they are hired. For example, a one-time sign-on bonus.
- Based on Position Start Month: Select this if employees will receive a one-time compensation based on the month they start on the job.
- Based on Position End Month: Select this if employees will receive a one-time compensation based on the month they end the job. For example, perhaps there is a paid time off accrual that is paid out on the ending month for that position.
Once you select the compensation payment, you need to select the following options:
Value Criteria
Select the Fixed option if the compensation basis is fixed or the Varies Annually option if it will change from year to year.
Employee Attributes
Select an employee attribute defined using the Workforce Attributes page.
Compensation Items for Calculating Total Wages
Select the compensation items to include in the calculation of the total wage, which adds up to gross pay.