2. This presentationallows you to understand the Variable pay process as it
exists in EmpXtrack with the help of screen shots.
Main sections are:
– Configuration of variable pay rules
– Setup of variable pay time periods, goals, targets
– Creation of sheets and visibility by employees
– Capture of achievements
– Upload of achievements and calculation of variable pay
– View of individual pay
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Purpose and Sections
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• When employees achieve their targets, organizations
meets their objectives
• Variable pay incentivizes target achievement
• Employee achievements can be on multiple
parameters
• Personal
• Team
• Department
• Company
• EmpXtrack variable pay module allows the setup of
• Multiple targets
• Allocation of these to employees
• Capture of achievements
• Automatic calculation of variable pay handouts
Concept
4. Configuration of variable pay
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1. Setup workflow for approval of sheet
2. Setup access rules
3. Setup goal attributes
4. Setup weight rules
5. Setup goals for the plans
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Various options available for configuration
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Configurable
workflow for
approval of the
plan.
Control access
on visibility of
goals and
achievements
Flexibility in
setup of different
attributes.
EmpXtrackallows complete flexibility in managingyourvariable pay process.
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• Setup a time period
• Setup frequency of payments (quarterly, half-yearly, annual)
• Identify the salary variable that will be used for variable pay
calculations. Here the base salary is being used.
• Setup the applicability – i.e which employees will be applicable
to this variable pay.
• Note: you can setup different variable pay plans for different
group of employees.
Setup of variable plan
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In a variable plan, Goals can be of 4 types. This helps in easy
capture of achievements
• Company goals. Achievements captured only once. This could include
goals such Revenue, Growth, Profitability, Certification, Customer
acquisition and so on.
• Department goals. Achievements captured once for each department. All
employees in the specific department will get the goal.
• Team goals. Achievements captured for each manager which is applied
to every subordinate in the managers team
• Individual Goals. Achievements captured for each team member.
Individual goals could include Appraisal score, Goalsheet achievement,
attendance, Productivity, billing, 360 score, reward nominations and other
employee related parameters
Create goals for the variable pay plan
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• Goals can be setup as Individual, department, company
• Setup the achievements and corresponding scores
• Add a description that illustrates the achievements such
that employees can view it.
Setup goals
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• Three goals have been setup here based on the
spreadsheet provided
• Each goal has a separate achievement and
corresponding mechanism to capture inputs
Setup the entire plan and initiate for all employees
10. Initiation of plan and capture results
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• The plans are created for each time period and can allow changes
from the base plan. For instance you may have a more lenient rating
for Q1 and Q2 and stricternorms for later periods
Variable plan can be initiated for each time period
• Initiation automatically picks up the employees
12. • When initiated employees get a message on initiation
• Employees can view their sheets in their performance section
• If workflows were allowed, employees or managers could have edited the sheets too
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Automatically share plan with employees
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• All employees are automatically selected
• Step 1. Download their variable plan sheets
• Step 2. Fill in values and upload the sheets
• Step 3. Calculate the results
• Employees can view values (based on settings)
Capture achievements.A 3 step process
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Step 1,2 : Download sheets for all employees and capture
achievements and upload the data
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• Each employee in the group is assigned 3 goals that were a
part of the variable pay plan
• The achievements could be imported from the appraisal or
input manually (based on modules procured)
• All values are captured and the sheet is uploaded for
calculation of variable pay
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Step 3: On clicking calculate all variable pays are
calculated
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• And employee scorecards can be printed or viewed
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For a demo or more information please
contact us at http://www.empxtrack.com