Compensation

Question 1

Compensation Rule

Answer 1

Guidelines for determining which workers are eligible for which
components of compensation

Question 2

Compensation Grade Profile

Answer 2

A breakdown of a compensation grade by functional task, geographical region, or other categorization your business requires. A profile allows you to assign more granular compensation ranges to worke

Question 3

Compensation Setup

Answer 3

A specific monetary amount within a grade or grade profile

Question 4

Compensation Grade

Answer 4

A compensation grade provides guidance in terms of what the pay for the position should be. A salary should fall within a range but the system allows you to go below or above it

Question 5

Compensation Plan

Answer 5

A component of pay that you use to assign monetary amounts to a worker’s pay. For example, a salary, an allowance, or a bonus

Question 6

Compensation Package

Answer 6

A grouping of compensation guidelines (grades, grade profiles, and their associated steps) and plans that you can assign to workers as a set. Packages provide a quick view the eligible plans for a particular job or group of employees