What is the Compensation Management product?
The Compensation Management module enables clients to create a Compensation Cycle, enter Budget Data, allow managers to model and propose increases for their employees using the Budget data, use Workflows to route and approve the increases, and create Job Change and Base Compensation History records when the cycle is finalized.
How does it work?
Compensation Management features a user-friendly worksheet that allows managers to input and submit salary increases or bonuses for each employee participating in the compensation cycle. This tool is particularly effective when integrated with performance management, as it provides easy access to each employee's performance review scores. This information empowers managers to make informed decisions regarding compensation adjustments and bonus distributions.
How do client's signup?
Client will work with sales to have a demo of Compensation Management. Sales will work with client to obtain a signed pricing sheet to add the module. The implementation team will setup the compensation module and train the client.
What resources are available to our clients?
UKG Online Documentation: Compensation Management User Guide