HR - Compensation Tab Overview
When hiring, rehiring, transferring or changing an employee's pay rate, the compensation tab should include a sequence of seven (7) steps, in the following order.
- Click the Default Pay Components button. This will default the Rate Code and the bottom Frequency, when the employee is initially hired. For monthly employees, this also calculates the top compensation rate correctly based on FTE.
- Verify the Rate Code is appropriate for the employee's pay basis (reference HR - Comp Rate Frequency Overview ).
- Enter the Comp Rate.
- Verify that the bottom Frequency populated correctly (reference HR - Comp Rate Frequency Overview ).
- Verify or edit the top Frequency. The top Frequency will populate correctly for employees with a Rate Code of NAHRLY, however all employees with a Rate Code of NAANNL will need to be changed to either 9M or M based upon the employee's pay basis. (reference HR - Comp Rate Frequency Overview ).
- Click the Calculate Compensation button.
- Verify the Compensation Rate (in the top Compensation section) is correct.