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How to Make the Bonus Expense Calculation Variable?
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Let's say you need to change bonus expense based on an achievement assumption. So, for example, if bonuses are 70% based on achievement of company goals and you are running ahead of Plan, you can change your bonus expense for this 70% to be 120% of target. Or if you are running behind Plan, set it at 80% of target.
So here's the solution: Load bonus by employee at 100%. Create a new compensation item with basis as % of Wages type. In this compensation item, you will have to map the Bonus compensation item. This new compensation item will help you to increase/decrease the actual bonus (as needed in the example) by -30% to get to 70% based on achievement of company goals. Or say 20% to get 120% of Bonus if you are running ahead of the Plan.
How Changes to Compensation Items Affect Running Scenarios?
Let's say you have a % of wages compensation item and you want to change the percentage value for overtime for all part time salaried employees from 7 % to 8 %. Perform the steps below.
- Access the Compensation Item in Edit mode (as shown below) by navigating to Maintenance > WFP > Workforce Planning Setup > Compensation Item > Edit button.
- Change the Percentage Value to 8.
- Click Settings.
- Select Set as Global Constant.
- Click Save.
Now, process all employees to reflect the changes via Cloud Scheduler.